Synthetix Research Hub | SNX information, history and analysis
Synthetix is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. Synthetix gives users access to a wide range of crypto and non-crypto assets. Specifically, this protocol provides users with access to highly liquid synthetic assets. It helps users track and profit from those assets without requiring the user to hold that property.
The Synthetix platform has helped expand the crypto space by introducing non-blockchain assets that access a more robust financial market.
SNX is a token that works within the Synthetix platform and is used as collateral to make it easier for users to buy/own other synthetic assets available on Synthetix. In addition, SNX is also used for the following purposes:
- Stake: Users can participate in staking assets and receive rewards paid in SNX.
- Shared transaction fees are generated on some operations of the Synthetix platform.
- Used to lock up as collateral to issue synthetic assets to the market.
- Used to pay transaction fees on the Synthetix DEX exchange.
Solana leads 2025 DEX market with 48% volume due to low fees and fast transactions. Ethereum attempts to maintain relevance through upgrades. Asia eclipses North America as the hub of DEX innovation, influenced by regulatory flexibility and institutional interest.
Liquidity remains a significant challenge for DEX platforms, impacting growth. The report forecasts that successful DEXs will balance interests of all stakeholders and attract liquidity providers to enhance trading experiences.
Synthetix has moved its perps markets on Arbitrum to a close-only mode due to strategic consolidation on Coinbase’s Base network. Arbitrum’s USDx, key for trading, will now be managed by Synthetix Treasury, which is purchasing USDx to ensure liquidity and stability for trading activities.
Synthetix recorded a monthly trading volume of 274 million USD on Base, overshadowing Arbitrum’s 86.2 million USD. The transition involves integrating ecosystem projects into a native trading platform, aligning with its new product strategy to enhance operations beyond being just a platform.
Mobile app enhances DeFi trading access: Mass and Synthetix’s new app combines decentralized finance with user-friendly features typical of centralized exchanges, letting users trade perpetual futures with significant leverage, enhancing participation for a wider audience beyond the crypto-native community.
User-friendly features improve trading experience: The app provides easy onboarding via Apple and Google logins, integrated payment options, and global availability aimed at regions like the United States and Europe, making it accessible and appealing to new markets.
Synthetix’s governance overhaul boosts efficiency: Following a governance revamp in October, aimed at improving operational efficiency, Synthetix has made strategic acquisitions like Kwenta and TLX to strengthen its product offerings and enhance its market presence.
Synthetix’s bullish momentum: Synthetix has recently broken free from a three-year price constraint, reaching highs of 3.67 USD. Currently trading at 2.80 USD, it shows potential for a 32% increase, with strong support at 2.43 USD.
Terra Classic’s recovery indicators: Terra Classic also exhibits strong recovery signs after bouncing off its support level of 0.0001150 USD. Trading now at 0.0001277 USD, it could retest its peak, indicating an upside potential of 41%.
DeFi protocol Synthetix is working on introducing its app chain, SNAXchain, on Optimism’s Superchain infrastructure.
The team announced that SNAXchain aims to serve as a neutral hub for governance and protocol decisions as Synthetix expands to more chains and Layer 2 solutions.
According to Odaily, Synthetix has introduced a new stablecoin named USDx.
Users can deposit ARB, USDC, USDe, or ETH as collateral to mint and borrow USDx at a 0% interest rate.
Synthetix announces Andromeda release featuring Core V3 and Perps V3 deployment
Synthetix has announced the release of its Andromeda version, which introduces Core V3 and Perps V3 deployment, adds USDC as new collateral, and expands to the Base chain.
A key feature of this release is the implementation of a buyback and burn mechanism for SNX tokens.
Synthetix to end SNX token inflation, shift focus to buybacks and burns
The community members at derivatives protocol Synthetix have approved a governance proposal SIP-2043, aimed at terminating SNX token inflation.
The cessation of inflation, including token buybacks and burns, set to be implemented in the protocol’s forthcoming Andromeda software release.
Synthetix founder proposes ending SNX inflation
According to proposal SIP-2043, Synthetix suggests reducing the weekly SNX inflation rate to zero.
Voting will end on December 18. Currently, 100% of the votes support this proposal.
Synthetix launches decentralized perpetual contract trading platform Infinex, SNX rises 19.61%
Synthetix announced the launch of Infinex, a decentralized perpetual contract trading platform. Infinex aims to compete directly with centralized exchanges (CEXs) and enhance the user experience in DeFi.
As a result of the above news, SNX has surged by 19.61% in the last 24 hours, reaching the highest in 3 months.