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Synthetix (COINBASE:SNX-GBP)

SNXGBP
GTIN: 1385280860.7650294

About Synthetix (COINBASE:SNX-GBP)

Synthetix (SNX) is a rebranding of Havven.io (HAV).Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties.This mechanism is designed to solve the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX.How SNX backs SynthsAll Synths are backed by SNX tokens. Synths are minted when SNX holders stake their SNX as collateral using Mintr, a decentralised application for interacting with the Synthetix contracts. Synths are currently backed by a 750% collateralisation ratio, although this may be raised or lowered in the future through community governance mechanisms. SNX stakers incur debt when they mint Synths, and to exit the system (i.e. unlock their SNX) they must pay back this debt by burning Synths.Synthetix is also currently trialling Ether as an alternative form of collateral. This means traders can borrow Synths against their ETH and begin trading immediately, rather than needing to sell their ETH. Staking ETH requires a collateralisation ratio of 150% and creates a debt denominated in ETH, so ETH stakers mint sETH rather than sUSD and do not participate in the ‘pooled debt’ aspect of the system. In this model, ETH stakers do not receive fees or rewards as they take no risk for the debt pool. Discord | GitHub | RedditLitepaper

Total Supply:328193104.0887736 Circulating Supply: 304921032.7871684
Testimonial
  • Andrew Byers - Verified Inerva User


    Author

    I am voluntarily separating from my job to pursue trading full-time. When I met the owners of Inerva I knew I was in the right place at the right time. Ryan and his wife’s leadership along with manually trading the Inerva indicator has given me the opportunity to able to not have to worry about getting a 9-5 job but to have a 4 hour work week and spend the other 36 hours with my family. 

    I utilized the Inerva indicator on forex and found that it provides the strongest entries I have used. I am going to be starting Futures trading and look forward to utilizing Inerva to launch a successful trading career.

  • Howard - Verified EcNomi Customer


    Author

    The Ecnomi trading platform has elevated my trading to a whole new level. As a funded trader, my win rate has improved substantially since learning the strategies through the online University and utilising the customised indicators provided.

    The way Ryan and Miyah teach and use the Supply and Demand strategy is POWERFUL. It is a game changer and has turned me into a more profitable and consistent Trader. I am now finding quality setups and following where Smart Money is, which has substantially improved my directional bias and win rate.

    Their Keyzone indicator, combined with the training has enabled me to find high probability setups and gives me greater confidence with the trades I take throughout the day. But regardless of what level you are at, you will never be on your own.

    I feel fully supported through this whole process with an active Telegram group and three live trading sessions per week. These sessions are conducted personally by Ryan and Miyah where they go through technical setups and answer all your questions. Ryan and Miyah are passionate about what they do and have a strong desire to help others. They are both knowledgeable and accomplished traders. It is what has drawn me to them, along with their strong vision to create and deliver innovative products that will bring financial education and benefit to all.

  • Mir Taha Hassan


    Author

    My experience with Ryan and Miyah has been seamless. They are amazing. There customer service is unparalleled. They are the sweetest, hard working couple I've been blessed with to call them my friends and family. No one and I mean no one in the history of indicators has come close to what they have built in there arsenal of indicators for me. Key zones indicator with the inerva arrows activated is what I use and I'm in love. Once you join you will not only enjoy the benefits of EcNomi but also the fact that they uphold a certain standard for all members and you will taken in as family!!! Long live INERVA!!

  • Ibrahim Hassan - Verified Onyx Member


    Author

    From the live trading rooms, to the daily trade breakdowns, to studying top-down analysis and critical zones from Inerva and Inerva Dashboard, Ryan and Miyah provide us with immeasurable value. I'm in complete awe. When the material is difficult for you to understand, there are two viewpoints that are eager to help you until you grasp the subject and the idea. I'm excited to embark on this journey and would strongly advise anyone to not hesitate and take action. You truly can't fail with them on your side, and they are always willing to reach out and reply to any difficulties I have.