Synthetix

About Synthetix

Synthetix is a decentralized perpetual futures protocol built on Ethereum Mainnet. It uses a hybrid design combining off-chain order matching on a high-performance CLOB with on-chain settlement to deliver low latency, deep liquidity, and MEV-resistant execution while keeping custody and finality on Ethereum. The protocol's liquidity is provided by the Synthetix Liquidity Provider (SLP) vault and backstopped by staked SNX collateral, which underwrites the issuance of the sUSD stablecoin and the solvency of the SLP vault.

• Synthetix uses a hybrid design with off-chain order matching and on-chain settlement.
• The protocol's liquidity is backstopped by staked SNX collateral.
• SNX collateral underwrites the issuance of the sUSD stablecoin.
• Synthetix is built on Ethereum Mainnet and supports multiple ecosystems including Avalanche, Polygon, and Optimism.
• The protocol is categorized under Decentralized Exchange (DEX), Derivatives, and Synthetic Issuer.