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  1. Home
  2. /Glossary
  3. /Synthetix
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defi

Synthetix

A protocol that creates synthetic assets (called Synths) tracking the price of real-world assets, crypto, forex, and commodities.

Definition

A protocol that creates synthetic assets (called Synths) tracking the price of real-world assets, crypto, forex, and commodities. SNX stakers provide collateral for the system and earn fees from synthetic asset trading. It runs on Ethereum and Optimism.

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Related Terms

Synthetic Asset

A tokenized derivative that mimics the price of a real-world asset without requiring you to own it.

Staking

Locking up tokens to help secure a proof-of-stake network and earn rewards.

Derivatives

Financial contracts whose value is based on an underlying asset.

1inch

A DEX aggregator that splits trades across multiple decentralized exchanges to find the best overall price.

Aave

One of the biggest lending and borrowing protocols in DeFi.

Across Protocol

A cross-chain bridge that uses an optimistic verification system and a network of relayers to move tokens between chains quickly.

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