#Synthetix News

SEBA lists DeFi tokens - UNI, SNX, and YFI

Crypto-Friendly Bank SEBA Adds DeFi Blue Chips UNI, SNX, and YFI

May 3, 2021 by Anthonia Isichei at DeFi

Swiss crypto-friendly bank SEBA has expanded its crypto footprint by adding support for prominent decentralized finance (DeFi) tokens. DeFi continues to experience tremendous growth with the emerging market segment now existing across multiple blockchain networks including Ethereum (ETH) and the Binance Smart Chain network (BSC). SEBA goes DeFi In a...

Beyond Finance Introduces Decentralized Exchange for Synthetic Asset Trading

April 7, 2021 by Dalmas Ngetich at Altcoins

Beyond Finance is introducing a novel DEX that allows for the exchange of synthetic financial products. Previously, this was mainly available on centralized exchanges, but Beyond Finance is bringing these financial tools to the forefront of the decentralized finance economy. To realize this, Beyond Finance just closed its private round...

Vitalik Confirms Solution to Scale Ethereum ‘100X’ is Coming Soon

Vitalik Buterin Confirms Solution to Scale Ethereum 100x is Coming Soon

March 10, 2021 by Wayne Jones at Ethereum

Ethereum's co-founder, Vitalik Buterin, sees the Ethereum network scaling by a 100 factor and predicts the release of Optimism's layer-two solution in the next few weeks. Buterin noted that Eth2 development projects concentrate on developing the chain melting with Ethereum on the Tim Ferriss podcast and are adamant that layer-two...

Grayscale Exploring “New Investment Products” Based on DOT, LINK, ADA, AAVE, Others

February 27, 2021 by Aisshwarya Tiwari at Altcoins

The crypto asset management behemoth is exploring a swathe of altcoins for new investment products. Grayscale Exploring 23 Tokens for New Investment Products Grayscale, a New York-headquartered digital asset management firm with assets worth over billions of dollars under management recently announced it is exploring the option to launch “new...

Synthetix Raises $12 Million from 3 VCs, Focus on V3 and China

February 14, 2021 by Dalmas Ngetich at DeFi

Synthetix--a DeFi protocol enabling trustless derivatives trading, has raised $12 million in a round of funding spearheaded by three venture capitals, a confirmation on Feb 14 reveals. Direct Investment from Crypto-Focused VCs The three VCs are Paradigm, Coinbase Ventures, and IOSG. They purchased SNX tokens directly from the protocols Decentralized...

Synthetix (SNX) to Activate Layer-2 Staking

January 13, 2021 by Dalmas Ngetich at DeFi

In less than 24 hours, Synthetix, a DeFi protocol that allows trustless trading of derivatives called synths, will activate Castor and Layer-2 staking after trialing on the Goerli testnet since September 2020, a press release on Jan 13 reads. Castor Follows Shaula For Layer-2 Staking The activation is less than...

Synthetix (SNX) Leads Ethereum DeFi Protocols in Adopting Layer-2 Solutions

September 24, 2020 by Dalmas Ngetich at DeFi

Admittedly, Ethereum has a fee problem. Because of its inability to scale, the average transaction costs fee remains prohibitive. As a result, leading DeFi protocols like Synthetix, Aave, and Uniswap--the largest decentralized exchange, plan to implement off-chain solutions to scale their service and vent the mainnet. The Synthetix Upgrade Today...

Synthetix (SNX) Launches Decentralized Asset Management Protocol on Ethereum Ropsten Testnet

July 20, 2020 by Ogwu Osaemezu Emmanuel at Altcoins

Synthetix (SNX), a derivatives liquidity protocol that facilitates the issuance and trading of synthetic assets, has announced the launch of dHedge, a decentralized asset management protocol. The team says dHedge will offer users non-custodial mimetic trading for assets on the Synthetix network, according to a blog post on July 20,...

DeFi Roundup Part 1: The Best Developments of 2019

December 27, 2019 by Ashwath Balakrishnan at Altcoins, Blockchain

As we approach the end of 2019, it's fair to say a lot of fundamental development that occurred on-chain for public ledgers revolved around open financial protocols, or as the cool kids call it, "DeFi". DeFi, which stands for decentralized finance has been an extensive movement that truly found its...

Governance and Anti-Fragility are Key to Robust Decentralized Systems, and Synthetix Intends to Stand Out

December 19, 2019 by Ashwath Balakrishnan at Altcoins

A prolonged debate in the space is that of whether decentralization is a spectrum or an absolute state. That is, can a system have different degrees of decentralization or is it simply just a binary function of ‘yes’ or ‘no’. Synthetix, one of the largest dApps on Ethereum, believes that...

How Synthetix Bootstrapped Liquidity and Built a Community in Under a Year

December 3, 2019 by Ashwath Balakrishnan at Ethereum

Synthetix is currently one of the most valuable products in Ethereum's open finance stack and ranks 2nd in terms of total value locked in the protocol with a whopping $175 million. From just under $2 million locked at the beginning of March 2019, when the staking yield kicked in, to...

Synthetix Network Receives Institutional Investment as Open Finance Adoption Grows

October 30, 2019 by Ashwath Balakrishnan at Altcoins

Synthetix Network, a financial dApp that allows users to invest in synthetic assets, has raised capital from Framework Ventures and a number of other undisclosed investors. With DeFi surging, many institutions are finally seeing a potential paradigm shift and investing in these protocols. Not long ago, Andreessen Horowitz bought $15...

Numerai Deploys Erasure Protocols to Ethereum Mainnet

August 28, 2019 by Ashwath Balakrishnan at Ethereum

Numerai has been making strides since they first launched their outsourced analysis contest. Now, they've announced their deployment on the Ethereum blockchain, August 27, 2019. Numerai allows participants to make price predictions for stocks in the Russell 3000 index on a daily basis and be rewarded if they have a...

The Legitimate Advantages of Ethereum Above Other Smart Contract Platforms

August 28, 2019 by Ashwath Balakrishnan at Ethereum

Kain Warwick, founder of decentralized investment platform Synthetix, has succinctly organized his views on why Synthetix chose Ethereum over EOS, and what advantages Ethereum has accrued in the last 5 years of its existence, August 27, 2019. Ethereum's Monopolistic Advantages Synthetix initially looked into EOS as a way to deploy...

Synthetix getting hacked by evil hands red

Synthetix Asset Issuance Platform Lose 37 Million sETH to Hackers

June 25, 2019 by Ogwu Osaemezu Emmanuel at Exchange, News

Synthetix, an Ethereum-powered synthetic asset issuance platform that claims to provide on-chain exposure to real-world assets like currencies, commodities, stocks and more, has suffered a massive oracle attack that has resulted in a loss of 37 million synthetic ether (sETH) tokens, according to The Block on June 24, 2019. Synthetix...

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