Synthetix facilitates the issuance of synthetic ‘real-world’ assets on the Ethereum blockchain.
What is Synthetix?
Orginially founded by Kain Warwick in 2017, Synthetix is an innovative platform that gives DeFi users exposure to traditional assets like Gold and Silver on-chain. Synthetix uses oracles to regulate the price of synthetic assets with their ‘real-world’ counterparts, allowing crypto users to leverage traditional assets with blockchain technology and functions. Synthetics has since expanded to the Optimism L2 network, and boasts over 50% of all recorded Synthetic asset TVL.
