Synthetix facilitates the issuance of synthetic ‘real-world’ assets on the Ethereum blockchain.
Orginially founded by Kain Warwick in 2017, Synthetix is an innovative platform that gives DeFi users exposure to traditional assets like Gold and Silver on-chain. Synthetix uses oracles to regulate the price of synthetic assets with their ‘real-world’ counterparts, allowing crypto users to leverage traditional assets with blockchain technology and functions. Synthetics has since expanded to the Optimism L2 network, and boasts over 50% of all recorded Synthetic asset TVL.
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