What is Synthetix (SNX)? | Synthetix Network Explained In Under 60 Seconds #shorts
Synthetix network is a decentralized infastructure for derivatives trading in DeFi on Ethereum. It is powered by the Synthetix Network Token (SNX). With the creation of Synths (synthetic assets), traders can access a range of assets, such as commodities, fiat currencies and cryptocurrency.
▶ Search the Largest Crypto Token Video Database https://cryptodefirevolution.com/
----
Staking is the process that converts the SNX token into pooled collateral for the network. This enables the creation of synthetic assets (Synths) by staking in SNX.
Synths have properties of ERC-20 tokens, and can be traded using Synthetix smart contracts. The derivatives liquidity enabled by Synthetix is already being used by many platforms & projects.
In 2021, Synthetix V3 will be launched which will represent a complete restructure of the Synthetix contracts. Synthetix V3 will solve the problem of removing legacy code & contracts through token holder migration.
-
1:29
Crypto DeFi Revolution
2 years agoApeCoin APE | For The Web3 Economy
1171 -
0:59
Crypto DeFi Revolution
3 years agoWhat is Celer Network (CELR)? | CELR Coin Explained in Under 60 Seconds
30 -
0:59
Crypto DeFi Revolution
3 years agoWhat is DENT Wireless (DENT)? | DENT Explained in Under 60 Seconds #Shorts
37 -
11:48
Alabama Arsenal
1 day agoGenesis Gen 12 Deep Dive | Unleash The Power
1621 -
38:57
PMG
15 hours agoHannah Faulkner and Brandon Tatum | BREAKING THE CHAINS: Exposing the Left’s Manipulation
2552 -
46:26
State of the Second Podcast
15 hours agoATF tries to Silence FREE SPEECH? (ft. AmmoLand)
731 -
12:53
BIG NEM
11 hours agoI Became a Virginity Expert. The Numbers Will SHOCK You.
66 -
7:51
PerpetualHealthCo
19 hours agoW.H.O's In Charge?
149 -
1:09:34
PMG
14 hours agoDoomsday Clock Moves Toward Midnight!!! Is The End Coming Sooner Than We Thought?!
343 -
3:03:51
FreshandFit
9 hours agoShe BRAGGED About Her ABORTIONS?!
77.3K95