Synthetix Network Token snx

Synthetix is an Ethereum-based decentralized application(Dapp) that allows users to obtain exposure to assets (cryptocurrencies, gold, and equities) without holding the underlying item. Synthetic assets (Synths) are backed by Synthetix Network Token (SNX), the platform's cryptocurrency. SNX can be staked as collateral to create incentives

The network was launched in September 2017 by Kain Warwick under the name Havven. (HAV). The company's name was changed to Synthetix after a year. Before founding Synthetix, Warwick worked on several other cryptocurrency projects. Peter McKean, the project's CEO, has over two decades of experience in software development. He formerly worked at ICL Fujitsu as a programmer

The main reasons to invest in Synthetix include: - The protocol is built so that users can access the underlying assets through synthesizers without holding the underlying asset themselves. - It is helpful for customers who do not have access to overseas equities such as Tesla. Synthetix allows users to obtain exposure to such assets. - On the Synthetix Exchange, holders can stake their SNX tokens in exchange for a part of transaction fees