Synthetix (SNX) explained in 6 easy steps

Synthetix is a decentralized finance (DeFi) protocol created with an aim to expand the cryptocurrency ecosystem. The name and symbol of the governance token of the protocol are called SNX.

1. When was it founded and by whom?

Launched into the market under the name Havven (HAV) by Kain Warwick in September 2017, the project was renamed as Synthetix as of 2018.

2. SNX’s infrastructure

SNX runs on Ethereum blockchain .

3. What does it offer to users?

Synthetix aims at expanding the boundaries of cryptocurrencies and creating a powerful financial system. It offers users to trade and exchange synthetic assets (i.e., synths) without need for any underlying asset.

4. Can SNX be mined?

SNX is not a type of token that allows mining activities.

5. All-time low, all-time high (ATH), and total supply

SNX’s all-time low price was $0.03258 on January 5th, 2019 while all-time high price was $28.77 on February 14th, 2021. Total supply of the cryptocurrency is 215,258,834 SNX and the circulating supply is 114,841,533 SNX.

6. How to trade SNX on Paribu?

By clicking on the link, you can easily trade SNX.