Derivative liquidity provider SNX ranks #46 in the CoinMarketCap. SNX is an Ethereum-powered crypto token that maintains the synthetix protocol through the collateralisation. When SNX is locked, a contract enables the issuance of synthetic assets called Synths. The pooled collateral model allows platform users to convert between Synths direct with a smart contract. This further offsets reliance on counterparties.
Synthetix was founded in 2017 by Kain Warwick, co-founder and CEO of Blueshift (another Australian company with over 1,250 locations across the country). Blueshift has become the largest crypto payment gateway in Australia, processing tens of millions of dollars in transaction volume. Buy Synthetix Network Token by creating a free trading account with Swyftx.
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