Synthetic (SNX)

Synthetic (SNX) is a decentralized protocol on the Ethereum blockchain that allows for the creation of synthetic assets. These synthetic assets represent the value of real-world assets such as stocks, commodities, and currencies. SNX users can create and trade these synthetic assets without actually owning the underlying asset. Instead, the synthetic asset is backed by SNX tokens, which act as collateral for the creation of the synthetic asset. The primary motivation behind creating SNX was to enable anyone to gain exposure to real-world assets without needing to go through traditional financial institutions. This allows for greater financial inclusivity and democratizes access to investments that would typically only be available to a select few. The SNX token also serves as the governance token for the protocol, giving holders a say in the decision-making process for future developments and changes to the protocol.