|Total Value Locked||24H|
|in ETH||232.6K ETH||-6.3%|
|in BTC||5K BTC||-2.3%|
|SNX Locked||106.6M SNX||+2.1M SNX|
|% Supply Locked||75.97%|
Synthetix is a decentralized platform on Ethereum for the creation of Synths: on-chain synthetic assets that track the value of real-world assets. Born as stablecoin project Havven, Synthetix rebranded and expanded its scope prior to launching on mainnet in February 2019. As of May 2019, the Synthetix platform supports over 20 Synths representing fiat currencies, commodities (e.g., gold), and cryptoassets. Stocks, indices, and other derivatives are expected to be added soon. Synthetix has a native token called SNX. Holders can lock SNX as collateral to mint Synths, which are freely tradeable ERC20 tokens. Transaction fees from Synths exchanged on Synthetix’s non-custodial DEX (Synthetix.Exchange) go to SNX holders/Synth minters, incentivizing Synth creation and giving value to the underlying collateral (i.e., the SNX token).