What is Synthetix?

Synthetix is a decentralized DeFi protocol for minting derivatives called Synths. Synths can be created from any asset provided it has a reliable and trusted price feed via a decentralized oracle. Using Synths, a user gets exposure to an asset without necessarily owning it. It is why Synthetix is considered a crucial protocol in decentralized derivatives trading. The launch of the protocol unbridled innovation, subsequently aiding in the building of DeFi Indices. Synthetix has also deployed on Optimism, a layer-2 Rollups solution on Ethereum.

Why Trade SNX

DeFi is here to stay, a reason why SNX is attracting capital from investors and traders. For its role in decentralized derivatives trading, deployment on Layer-2, and launch on Ethereum, SNX remains a solid protocol. Traders can now profit from the token's volatility on CryptoAltum while accessing high leverage on a familiar MT5 trading platform.

SNX is just one of over 70 cryptocurrency pairs offered by CryptoAltum. New users are welcome to register a free demo account and try the platform risk free for an unlimited amount of time.