{"id":565,"date":"2021-06-01T10:46:28","date_gmt":"2021-06-01T10:46:28","guid":{"rendered":"https:\/\/deficoins.io\/?page_id=565"},"modified":"2021-06-01T10:46:28","modified_gmt":"2021-06-01T10:46:28","slug":"synthetix-review","status":"publish","type":"page","link":"https:\/\/deficoins.io\/review\/synthetix","title":{"rendered":"Synthetix Review: All You Need to Know About SNX"},"content":{"rendered":"

Synthetix is a decentralized digital platform that enables users to trade assets. It includes trading stocks, commodities, fiat currencies, and even cryptocurrencies such as BTC and MKR. Transactions are carried out without the interference of third parties such as central banks in traditional financing.<\/p>\n

Synthetix was coined from the word “Synthetics”. It refers to assets created to emulate real-world assets in a market. You can operate it and make profits from it – and the user can do so without owning these assets. There are two major types of tokens available in Synthetix:<\/p>\n

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  1. SNX: This is the primary token accepted in Synthetix and is used to create synthetic assets. It uses the symbol SNX<\/strong>.<\/li>\n
  2. Synths: assets in Synthetix are called synths and are used as collaterals for generating value for the fundamental assets.<\/li>\n<\/ol>\n

    Synthetix has appeared to be a very profitable DeFi protocol. It enables users to access real-life assets, mint, and trade with them in a decentralized way.<\/p>\n

    It also allows users to predict fixed outcomes of a position, if their prediction results are correct, the user wins a reward, but if not, the user loses the staked amount of cash.<\/p>\n

    Synthetix is a relatively new cryptocurrency and maybe new to you if you are new to the DeFi market. This Synthetix review will give you a clear understanding of it. So, let’s proceed to some fundamental knowledge of Synthetix.<\/p>\n

    Contents<\/p>