Synthetix Network Token current price is $14.390.


Synthetix Network Token current price is $14.390 with a marketcap of $2.04 B. Its price is 1.44% up in last 24 hours.


Buy / Sell Havven
  • havven
    Synthetix Network Token (SNX)
  • Live Price
    $14.390
  • 24h %
    1.44%
  • Market Cap
    $2.04 B
  • Volume
    $216.04 M
  • Available Supply
    141.98 M SNX
  • Rank
    20

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Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was rebranded from Havven on November 30, 2018. Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.” This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.

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Twitter News Feed

🎱 $ASSY will be gradually rolling out starting from today (within 24 hours): https://medium.com/powerpool/welcome-assy-the-launch-roadmap-e7775ac519b3
🎱 Stay tuned for announcement and the legit contract address
🎱 Launch roadmap👇

While migrating to the new escrow contract in last week's Castor release, the end of the fee period epoch was brought forward to 4am UTC, Wednesday Jan 20. This means that there is just under four hours remaining to claim any staking rewards for this epoch. 1/2

And I’m back!

It was f*ing hard not to tweet during our release. We deployed @synthetix_io to @optimismPBC mainnet L2. It was the culmination of months of extreme hard work, and an astonishing team and inter-team effort. I can’t believe that this milestone is now in our past. https://twitter.com/the_ethernaut/status/1349528617634721793

TheOptimisticΞthernaut *。¨@the_ethernaut

I too will not be tweeting again until $ETH hits all time high.

Re-send it. https://twitter.com/sassal0x/status/1347021895187668993

Strong first couple of days of @synthetix_io cross-asset swaps on @CurveFinance with over $3m in volume consistently having the best prices from high five figures and up on ETH/BTC/USD/EUR pairs.

Image for the Tweet beginning: Strong first couple of days
Image for the Tweet beginning: Strong first couple of days
Image for the Tweet beginning: Strong first couple of days
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