Synthetix Network T

Synthetix is an Ethereum-based decentralized protocol used for minting synthetic representations of assets as tokens. These tokens track the value of those assets in a 1:1 ratio. These assets can be cryptocurrencies like Bitcoin and Bitcoin, commodities like gold and silver, fiat currencies and more. Users put up the tokens as collateral for the synthetic assets they hold. It's important to note that if you hold any of these synthetic assets or synths, you don't actually own those assets, you're just speculating on their price.

SNX-BUSD Performance At-A-Glance