Synthetix (SNX) Synthetix is a decentralized synthetic asset | Crypto Great | Bitcoin | DeFi

Synthetix (SNX)

Synthetix is a decentralized synthetic asset issuance protocol on Ethereum. Its exchange enables anyone in the world to trade any type of asset such as forex, commodities,cryptocurrencies, and indexes.

Synthetix staking is now live on layer 2 Optimistic Ethereum (OE). OE is an Ethereum scaling solution that improves transaction speeds and reduces costs. It’s a major breakthrough in Ethereum development, since it’s fully compatible with existing smart contracts without needing to rewrite them.

Next month, Synthetix will enter the next phase of its layer 2 migration, which will allow users to exchange synthetic assets at a cheaper and faster rate. This will lead to more trading volume and more profits for SNX token holders.

Layer 2 will also bring greater possibilities to the platform, like synthetic futures and synthetic equities. This will allow it to compete against centralized exchanges like Binance and enable users to trade them around the clock, even when the stock market is closed.

2021 will be an exciting year for Synthetix as it continues launching innovative new products to attract more users to its platform. Combined with the integration of layer 2 scaling, we believe Synthetix is just getting started. So today, we’re raising the buy-up-to price to $21.