What is Synthetix (SNX)

1. Project Introduction
Synthetix is a decentralized protocol for issuing and trading synthetic assets (Synths), which track the value of real-world assets like fiat currencies, commodities, stocks, and indices.
These Synths are backed by SNX tokens locked in smart contracts, allowing P2C (peer-to-contract) trading on the Synthetix Exchange with no liquidity constraints.
The protocol provides liquidity to other DeFi protocols and DEXs such as Kwenta, Lyra, Polynomial, 1inch, and Curve.
SNX is the core token used for collateralizing and minting synthetic assets.
Summary:
Synthetix is a synthetic asset issuance protocol that enables on-chain exposure to real-world assets and serves as a critical liquidity layer for DeFi applications.
2. Team & Investment Info
Founded: 2017 (originally as Havven)
Founders:
Kain Warwick – also CEO of Blueshyft (a retail payments network with 1,200+ outlets)
Justin Moses – CTO of Synthetix; partner at ARB Industries; former Director of Engineering at MongoDB
Key Contributor: Jordan Momtazi – Co-founder of Block Earner and partner at Bodhi Ventures
Funding:
$32M raised via OTC rounds in Feb 2021 and Mar 2023
Backers: Coinbase Ventures, Paradigm, IOSG Ventures, DWF Labs
March 2018: $30M raised via ICO
3. Social Media URLs
X: https:/x.com/synthetix_io
Discord: https://discord.com/invite/KVeCZe6ahW
4. Token Info
Token Symbol: SNX
Total Supply: 328,193,104
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f
Token Distribution:
Staking: 49.91%
Private Sale: 19.2%
Team: 18.49%
Public Sale: 3.05%
Foundation: 4.62%
Advisors: 0.77%
Presale: 0.87%
Bounties & Airdrops: 1.16%
5. Related Links
Official Website: https://www.synthetix.io/
GitHub: https://github.com/synthetixio
LinkedIn: https://www.linkedin.com/company/synthetix/
Other Info: https://dune.com/synthetix_community/synthetix-stats