Synthetix

Synthetic Exchange Declares Independence with Own Token

Kwenta, an exchange interface for Synthetix’s derivatives, has declared itself an “independent project operating outside of the Synthetix core contributors,” according to an announcement post. The project will also issue a token, KWENTA, that will be used to participate in governance and to “bootstrap the community and fuel an early development team.” It’s a sign …

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Liquidations Whack Synthetix

In a sign of volatility in the blockchain-derivatives market, liquidations on the Synthetix platform skyrocketed to $19.4M, on June 11, a 30-fold jump from the next highest level on May 13, according to data from The Graph. . As worrisome as that spike might be, the liquidations were right in line with how the system …

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Synthetix to Add Tokens Linked to FAANG Stocks

Synthetix users will soon be able to trade proxies of the most popular US tech stocks. Synthetix, the synthetic derivatives protocol, will launch its Alnilam update tomorrow which includes three Synthetix Improvement Proposals (SIPs) and adds support for eight new assets, including tokens tracking prices for FAANG stocks –– Facebook, Amazon, Apple, Netflix and Google …

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DeFi Stocks Trading Climbs After Robinhood Fail

Synthetic assets trading in decentralized finance is picking up after stock buyers were locked out of traditional markets last week. Platforms like Mirror, FTX, and Synthetix, which are live, and others still in the works like Injective Protocol, allow investors to gain access to traditional stocks and assets via tokens which replicate their price.  Daily …

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Synthetix Introduces Layer 2 Staking on Optimism

Things are hopefully about to speed up and get cheaper in Ethereum land, as Synthetix, the synthetic asset issuance protocol, deployed its staking code from Ethereum to Optimism, a Layer 2 scaling solution on Jan. 15.  Now, users can migrate their Synthetix Network Tokens (SNX), used to mint the protocol’s synthetic assets, to Optimistic Ethereum’s …

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