New Listing: Synthetix (SNX) Token

What is Synthetix?

Synthetix is a decentralized exchange (DEX) built on the Ethereum blockchain through a series of smart contracts. Nonetheless, Synthetix does not offer trading between crypto assets like tokens and stablecoins, but rather between synthetic assets or “Synths.”

One of the special features of Synthetix is the ability to create and trade Synth tokens that track the price of assets inversely (iUSD, iETH, iXAU, etc). This makes Synths one of the only ways to short an asset in a purely decentralized manner.

What are the use cases of SNX?

Synths can be used to keep track of the price of virtual tokens that are basically traditional assets that investors are already familiar with. Commodities and traditional stocks may be traded via the Synthetix DEX. For instance, it’s possible to trade major fiat currencies, in the form of sUSD (synthetic US dollar) or sEUR (synthetic Euro).

Where can you buy SNX?

SNX, a “decentralized” asset management protocol that offers non-custodial mimetic trading, is now available for instant purchase via trading or on Liquid Buy and Swap, where Visa cards are accepted globally. Currently available trading pairs are SNX/BTC, SNX/USDT.

Learn more about Synthetix at  https://www.synthetix.io/