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$1,495.92

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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...

Ethereum-Based “Synthetic Bitcoin” Offers Non-Custodial BTC Exposure

February 28, 2019 by Aisshwarya Tiwari at Altcoins, Bitcoin, Ethereum, News, Tech

Synthetix, a decentralized synthetic asset platform, has launched the first of its kind synthetic Bitcoin on the Ethereum blockchain. This crypto (sBTC) will benefit Ethereum users by giving them non-custodial exposure to bitcoin. This according to a press release published on February 25, 2019. Gain Control of Trustless Bitcoin Satoshi...

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