Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX. (Source : https://www.synthetix.io/uploads/synthetix_litepaper.pdf)
Synthetix offers a variety of synths varies from crypto (BTC, ETH, ADA…) AND commodities (gold, silver…) and forex synths (USD, GBP…) index synths (TSLA, AAPL…) and inverses ( of all assets)
The Synthetix Network Token (SNX) contract address which when locked in the contract enables the issuance of synthetic assets (Synths)
You can get the Ethereum contract address for any asset, a whole list asset provided here.
Here you can find a whole list of available markets
First you have to connect your wallet in order to interface with the desired Ethereum contract as you can see there a whole list of wallets provided from (metamask,trezor,ledger,coinbase and WalletConnect).
You can overview both the biggest gainers and the biggest losers from this page and chose which market you are trade in
By clicking on the trade button next to your favorite market you transferred to the correspondent exchange page
By clicking on the trade button next to your favorite market you transferred to the correspondent exchange page