Home Coins Synthetix Network Token (SNX)

Synthetix Network Token (SNX)

Synthetix was originally known as Havven and held its ICO around February 2018 for its ERC-20 token, HAV. Price of 1 HAV equals to 0.67 USD. The goal at the time of launch was to be a decentralized payment network which uses a dual token system to issue stablecoins (nUSD) backed by HAV as collateral. HAV holders were then rewarded with a % of fees generated from all nUSD transactions as result of keeping nUSD stable.

Going forward, the team realized that they can do so much more than just creating a stablecoin. The major rebranding to Synthetix was announced on 30th Nov 2018 and HAV became SNX.

Stretching the full potential of the Synthetix platform, it now enables the creation of on-chain synthetic assets which an oracle is used to track the price movement of the same assets in the real world. This has opened up a wide variety of synthetic assets that any user can mint such as stable coins that are pegged to the price of fiat currencies or dollars pegged to mental/indices/commodities, provided it is offered on the exchange. Synthetic assets allows exposure to the price action of the asset without holding the underlying asset. If you do not want the hassle of dealing with KYC on the exchanges and is bullish on the price of Bitcoin in the future, you can buy sBTC to gain exposure to the value of BTC.

For people who are on the other side of the trend (bearish), there are inverse synthetic assets to short the price and gain profit when the price of the asset decreases. (iBTC) More synthetic assets of other popular asset classes and cryptocurrencies will soon be introduced as the exchange gains traction and demand for a certain asset from the community arises.

The Vega Launch

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At this time we're deploying a brand new system improve to...

sUSD is now listed on Kyber!

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We're happy to announce that sUSD is now listed on KyberSwap,...

Introducing sDEFI, sLINK, sLTC, sXRP, and their Inverses!

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In right now's Arcturus launch, which is now stay, we launched...
Community Governance Call 6

Be a part of us on November 18/19 for the subsequent group governance name!

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The subsequent Synthetix group governance name is scheduled for November 18/19...

The Arcturus Launch

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Subsequent Thursday (November 21, AEDT), we'll be deploying a brand new...

Mintr and the litepaper are literally on the market in Mandarin!

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Because of the diligent work from our neighborhood translators, we now...

Mintr v2 is now dwell!

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As a part of the Rigil launch, the brand new model...

specific your views on the proposed new SNX financial coverage!

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Over the previous few months, Synthetix has been shifting to a...

specific your views on the proposed new SNX financial coverage!

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Over the previous couple of months, Synthetix has been shifting to...

The Rigil Launch

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Subsequent Thursday (November 7, AEDT), we'll be deploying a brand new...

Framework Ventures backs Synthetix

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Synthetix is extraordinarily excited to announce that Framework Ventures has backed...

Come assist us translate Mintr!

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We're excited to announce that as a part of the Mintr...
mintr v2 beta

The Mintr v2 beta is now stay!

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We’re excited to announce that the beta model of Mintr v2...
Community Governance Call 5

Be part of us for the subsequent neighborhood governance name on October 24/25!

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The subsequent Synthetix neighborhood governance name is scheduled for October 24/25...
release announcement

The Canopus Release

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As we speak we're deploying a brand new system improve to...
mintr v2 alpha

Try out the alpha version of Mintr v2!

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We have been engaged on a complete overhaul of Mintr, our...
release announcement 1

The Sirius Release is scheduled for Thursday, September 26 (AEST)

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This Thursday (AEST), we'll be deploying a brand new system improve...
migration

how to migrate sETH liquidity on Uniswap

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Final week we introduced that because of a contract improve, sETH...
Reddit

Addressing Claims of Deleted Balances

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A response to the Reddit publish: “The Synthetix "dApp" deleted my...
sETH LP announcement 2

sETH liquidity providers must migrate from September 18-25!

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We're deploying an up to date proxy structure to make sure...
Virtual Hackathon2

Join Kyber’s DeFi Virtual Hackathon!

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Synthetix is happy to be co-sponsoring Kyber's digital hackathon, specializing in...
community governance

Join us in the next community governance call on September 11/12!

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The following Synthetix group governance name is scheduled for September 11/12...
arb contract 1

Our new ETH-SNX arb contract is now live!

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We're excited to announce the launch of our new SNX arbitrage...
Compound vote 2

Vote for sUSD in Compound community vote and you could win 1000 SNX!

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Compound's group vote has been underway for every week, and sUSD...
sips.synthetix.io

Our new SIPs website is now live!

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We just lately started an initiative a la Ethereum EIPS, introducing...
Compound vote

Why you should vote for sUSD in the upcoming Compound community vote

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sUSD has been included within the upcoming group vote by Compound,...
cross chain infrastructure 1

Cross-Chain Infrastructure Revisited

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I first wrote about cross-chain infrastructure in a put up printed...
Screen Shot 2019 08 19 at 11.53.31 pm

Introducing our first index tokens sCEX and iCEX!

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We're very excited to launch a brand new class of Synth,...
Kyber

SNX liquidity has been added to KyberSwap!

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We're happy to announce that SNX liquidity will likely be dwell...
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