Synthetix Network Token

Synthetix Network Token SNX

$5.08
Market Cap $ 515.895 MM (#44)
24h Volume $ 81.437 MM
Chg. 24h: 2.07%
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Synthetix Network Token project purpose and description

Synthetix Network Token clarity of purpose

Synthetix Network Token purpose and aspects

Synthetix, formerly Havven, is a cryptoasset-backed network that enables the creation of on-chain synthetic assets. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc.), synthetic commodities such as gold (sXAU), as well as more complex assets such as equity indices.

Synthetix Network Token categories

NetworkingPaymentsDigital currency

Short description

Synthetix, formerly Havven, is a cryptoasset-backed network that enables the creation of on-chain synthetic assets. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc.), synthetic commodities such as gold (sXAU), as well as more complex assets such as equity indices.

Abstract

Havven is a decentralized payment network designed to enable everyday cryptocurrency purchases. The network uses a dual token system to reduce price volatility. The fees from transactions within the system are used to collateralize the network which is secured by the blockchain enabling the creation of a new asset-backed stable coin, common tokens.

Link to Roadmap: n/a
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