SNX
Synthetix
SNX

Synthetix price

in USD
$0.6935
-$0.0028 (-0.41%)
USD
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Market cap
$237.37M #112
Circulating supply
343.47M / 343.89M
All-time high
$28.99
24h volume
$17.07M
4.0 / 5
SNXSNX
USDUSD

About Synthetix

SNX (Synthetix) is a decentralized finance (DeFi) protocol that enables users to trade synthetic assets, which are digital versions of real-world assets like stocks, commodities, and cryptocurrencies. Built on Ethereum, Synthetix allows traders to gain exposure to these assets without owning them directly. The SNX token is used to collateralize the system, stake for rewards, and participate in governance. Key features include privacy-focused perpetual contracts (perps) and the ability to earn yield on collateral while trading. Synthetix is known for its innovative approach to decentralized derivatives, offering capital efficiency and security on Ethereum's mainnet. It’s a cornerstone of DeFi, appealing to traders seeking advanced tools with reduced risk of front-running or liquidation attacks.
AI-generated
RWA
DeFi
Layer 2
Official website
White Paper
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CertiK
Last audit: 3 June 2021, (UTC+8)

Synthetix’s price performance

Past year
-53.30%
$1.49
3 months
+27.41%
$0.54
30 days
+5.50%
$0.66
7 days
-1.58%
$0.70

Synthetix on socials

ChainCatcher
ChainCatcher
Investment research report of Avantis, a synthetic asset derivatives protocol
1. Project overview Avantis is an oracle-based synthetic derivatives protocol that allows users to trade cryptocurrencies, real-world assets (RWAs), and multiple financial assets with leverage. The project was launched on the mainnet on the Base chain in February 2024 and is one of the largest derivatives trading platforms in the Base ecosystem. 1.1 Project positioning and core functions Core features: Provide high-leverage trading (up to 500x leverage), synthetic asset trading, liquidity mining, market maker incentives, etc. Supported assets: cryptocurrencies, forex, commodities, US stock indices, real world assets (RWA), etc. Technical architecture: Provide price data based on oracles (such as Pyth, Chainlink), using synthetic leverage, liquidity pools, risk layering models, etc. 1.2 Technology and architecture Synthetic Leverage Mechanism: Pair traders with USDC vaults through the "Universal Leverage Layer" architecture, providing deep liquidity. Risk control: LPs can choose different risk exposures (such as 65% and 35% loss risks) and support time-lock mechanisms. Governance and Incentives: Issuance of the governance token $AVNT for staking, community rewards, and governance decisions. 2. Market performance and financial data 2.1 Users and Transaction Volume User Size: As of September 2025, the platform serves more than 41,000 traders, with a cumulative trading volume of over $22 billion and a TVL of $16.75 million. Market Expansion: Supports over 80 markets, including 22 RWA assets. 2.2 Financing Total Financing: A total of US$12 million has been raised, with investment institutions including Pantera Capital, Founders Fund, Base Ecosystem Fund, etc. Tokenomics: The total supply is 1 billion, with 50.1% allocated to the community and the rest allocated to the team, investors, foundation, and liquidity reserves. 2.3 Token Performance AVNT Token: The price doubled after its launch, with a 24-hour trading volume of $169 million. 3. Industry trend and competition analysis 3.1 Industry trends Synthetic Assets and Perpetual Contracts: With regulatory clarity, RWA on-chain, and synthetic assets maturing, the perpetual contract market is undergoing a paradigm shift and becoming a key engine for DeFi growth. Base Ecosystem Development: As a Layer2 solution, Base is promoting on-chain financial sovereignty, with Avantis as one of its core projects. 3.2 Competitive landscape Key competitors: traditional exchanges (e.g., Binance, Coinbase) and DeFi derivatives platforms (e.g., Synthetix, dYdX). Advantages: High leverage, low fees, multi-asset support, decentralized governance, etc. 4. Risks and challenges 4.1 Technical risks Oracle Dependence: The accuracy of price data relies on oracles, posing a risk of attack. Smart Contract Vulnerabilities: Complex contracts may cause vulnerabilities and require continuous auditing and upgrades. 4.2 Market risk Regulatory Uncertainty: Global regulatory policies may impact project development. Increased Competition: New entrants may seize market share. 5. Future prospects 5.1 Technology Upgrades Technical Optimization: Upgrade to EVM-compatible chains to improve transaction efficiency, optimize position opening delay, stop loss function, etc. Product Expansion: Launched v2 version to support more asset classes, options trading, and more. 5.2 Ecological construction Community Governance: Enhance community engagement and promote the governance function of the governance token $AVNT. Ecological cooperation: Collaborate with more projects to expand the ecological network.
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NFT66
NFT66
Perpetual contracts have always been a potential path to big profits. Perpetual contracts, or perpetual derivatives trading, can be simply understood as making real money through contracts. Historically, there have been projects like SNX, YFX, DYDX, GMX, AEVO, JLP, HYPE, etc. Currently, there are hot projects like aster, myx, and the still viable standx. This is a track that must be followed historically, and it's essential to pay attention to the price when tokens are released. A simple logic is to analyze the level of support from their backers, then consider the cost-effectiveness and market conditions. I haven't tweeted in a while, and I'm writing this not as investment advice, but just to help myself organize my learning and solidify my thoughts. Experts can feel free to give me pointers. $aster $myx $standx
8.35K
0
Crypto Koryo
Crypto Koryo
perps are now the 2nd biggest sector by mindshare. aster, lighter and avantis are all competing to gain market share from hl. in terms of fdv, all alt hype perps combined don't even make up to half of hl's fdv. a similar pattern when looking at volume/oi/fees. when considering the whole sector, there are many more protocols, some still pre-tge like gte, with good funding. hyperliquid will probably continue to dominate in terms of on-chain metrics in the short-term but the market is forward looking. for any liquid investor, the main question is will $hype continue to outperform like it did in q1? $hype fdv is at $55b already. for reference, only btc, eth, xrp, sol and bnb have a higher fdv. eth is at $550b. on the other hand, aster/jup/avantis/drift are all below $5b fdv. obviously hl is battle tested, is a fast growing l1 while all the others are relatively small new perp protocols. but i like to look at this from a mean reversion angle. my conclusion is that if you are looking for a 10x from here, then hype is probably not your best bet. however, if your goal is to outperform the market by holding one asset and you want to sleep well, then hype is probably your best bet.
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Synthetix FAQ

Synthetix (SNX) is a decentralized protocol on the Ethereum blockchain that facilitates the creation of synthetic assets, known as "synths." These synths mimic the value of real-world assets like cryptocurrencies, commodities, and fiat currencies. By leveraging smart contracts, oracles, and the SNX token, Synthetix enables users to access various assets without owning them directly. This opens up a new horizon of financial opportunities within the decentralized finance (DeFi) space.

The SNX token plays a crucial role within the Synthetix ecosystem, serving multiple functions. Primarily, it acts as collateral to back the value of issued synths. Holders can lock their tokens as collateral and mint synths, earning a proportionate share of fees generated by the Synthetix protocol. Additionally, SNX token holders can participate in the protocol's governance, giving them a voice in decision-making processes.

Easily buy SNX tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include SNX/USDT and SNX/USDC. You can also swap your existing cryptocurrencies, including Bitcoin (BTC),Cardano (ADA), Tether (USDT), and USD Coin (USDC), for SNX with zero fees and no price slippage by using OKX Convert.

Currently, one Synthetix is worth $0.6935. For answers and insight into Synthetix's price action, you're in the right place. Explore the latest Synthetix charts and trade responsibly with OKX.
Cryptocurrencies, such as Synthetix, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Synthetix have been created as well.
Check out our Synthetix price prediction page to forecast future prices and determine your price targets.

Dive deeper into Synthetix

Amidst the Ethereum network's scalability issues and growing congestion, Synthetix has emerged as an innovative solution to these challenges. With its native token SNX, Synthetix provides a robust platform for synthetic assets in the decentralized finance (DeFi) arena. This platform goes beyond the typical DeFi offerings, presenting a distinctive approach to tokenization and asset management that unlocks numerous opportunities within the cryptocurrency space.

What is Synthetix?

Synthetix is a DeFi protocol operating on the Ethereum network, enabling the creation of synthetic assets. These assets, referred to as Synths, replicate the value of various other assets, including fiat currencies, cryptocurrencies, commodities, and stocks. The primary purpose of Synths is to offer users exposure to these assets without needing to possess them physically. The Synthetix Network Token (SNX) is the protocol's native token and is used as collateral for issuing Synths.

The Synthetix team

The Synthetix team, led by Kain Warwick, is a dedicated group of experienced developers and entrepreneurs. Some notable team members include Dustin Fontaine, the CTO; Justin Moses, the senior software engineer; Clint Ennis, the senior architect; and Sunny Vempati, the front-end architect. Additionally, the team is complemented by Andrew Porter, a non-executive director, Marcelo D., a partner at Cluster Capital, and Brian O'Farrell, the co-founder of Furthr. 

How does Synthetix work?

Synthetix operates by utilizing decentralized oracles, which are smart contract-based price discovery protocols, to monitor the prices of specific assets. By doing so, the value of Synths becomes tied to the underlying assets, enabling users to gain exposure to these assets without holding them directly.

Users can lock up their SNX tokens as collateral to mint new Synths. These newly minted Synths can be traded on the Synthetix Exchange without experiencing slippage. This is achieved through a mechanism that burns the Synths being sold and mints new ones, ensuring the overall supply remains balanced.

SNX tokenomics

SNX tokens play a vital role in the Synthetix ecosystem as they serve as collateral for the creation of synths. When SNX holders stake their tokens within the protocol, they gain access to rewards and the ability to participate in the Synth exchange. Notably, the value of SNX tokens is directly tied to the value of the synths they are used to collateralize, establishing a crucial connection between the token and the underlying assets within the system.

Synthetix use cases

Synthetix offers various use cases that revolve around synthetic assets. Through Synths, users can gain exposure to a wide range of assets without needing to directly own them, as the Synths are tied to the value of the underlying assets.

The platform enables users to trade Synths directly on the Synthetix DEX without the involvement of intermediaries. Additionally, being built on the Ethereum blockchain, users can deposit Synths on select DeFi protocols, providing liquidity and earning interest.

SNX token holders can stake their tokens and earn Synths as rewards, further enhancing their participation within the ecosystem.

SNX distribution

The total supply of SNX tokens is capped at 259,562,746. The distribution is allocated as follows:

  • Sixty percent through the initial coin offering (ICO).
  • Three percent for bounties and marketing incentives.
  • Five percent for partnerships.
  • Twelve percent for the foundation.
  • Twenty percent for the team and advisors. 

The road ahead of Synthetix

Synthetix's future roadmap involves the expansion of its synthetic asset offerings to include traditional assets such as stocks and bonds. This strategic move aims to bridge the gap between the traditional financial realm and the blockchain space, enabling users to access a broader range of investment opportunities.

Furthermore, the Synthetix team is committed to improving the user experience by enhancing the platform's accessibility and usability, catering to both seasoned and new users alike.

Disclaimer

The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.

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Market cap
$237.37M #112
Circulating supply
343.47M / 343.89M
All-time high
$28.99
24h volume
$17.07M
4.0 / 5
SNXSNX
USDUSD
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