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Synthetix(SNX)

Total Value Locked$898,491

TVL by Chain

Ethereum$898,491

Base$0

Arbitrum$0

Key Metrics

Fees 30d$9,176
Fees 30d by chain

Ethereum$9,176

Arbitrum$0

Base$0

OP Mainnet$0

Fees 7d$1,340

Ethereum$1,340

OP Mainnet$0

Fees 24h$309

Ethereum$309

OP Mainnet$0

Cumulative Fees$83.88m

OP Mainnet$54.22m

Ethereum$27.14m

Base$2.42m

Arbitrum$95,937

Revenue 30d$9,176
Revenue 30d by chain

Ethereum$9,176

Arbitrum$0

Base$0

OP Mainnet$0

Revenue 7d$1,340

Ethereum$1,340

OP Mainnet$0

Revenue 24h$309

Ethereum$309

OP Mainnet$0

Cumulative Revenue$82.08m

OP Mainnet$54.22m

Ethereum$27.14m

Base$716,791

Arbitrum$6,981

Holders Revenue 30d$0
Holders Revenue 30d by chain

Arbitrum$0

Base$0

Ethereum$0

OP Mainnet$0

Holders Revenue 7d$0

Ethereum$0

OP Mainnet$0

Holders Revenue 24h$0

Ethereum$0

OP Mainnet$0

Cumulative Holders Revenue$82.06m

OP Mainnet$54.22m

Ethereum$27.12m

Base$716,791

Arbitrum$6,981

Incentives 1y$0

$0

$0

$0

$0

Earnings (Annualized)$28,985

$9,176

$1,340

$309

$82.08m

Perp Volume 30d$91.71m
Perp Volume 30d by chain

Ethereum$91.71m

Arbitrum$0

Base$0

OP Mainnet$0

Perp Volume 7d$16.41m

Ethereum$16.41m

OP Mainnet$0

Perp Volume 24h$2.82m

Ethereum$2.82m

OP Mainnet$0

Cumulative Perp Volume$63.675b

OP Mainnet$55.775b

Base$6.746b

Ethereum$938.65m

Arbitrum$216.13m

$402,148

Market Cap$136.48m

$SNX Price$0.23

All Time High$28.53

All Time Low$0.035

View $SNX token page

$136.58m

$136.69m

$SNX Volume 24h$6.33m

CEX Volume$3.87m

DEX Volume$2.23m(35.24% of total)

Treasury$8.87m

$31,221

Stablecoins$516,097

Own Tokens$7.76m

Others$569,799

Total Raised$46.05m

Sep 29, 2017$250,000Round: SeedInvestors: George Burke

Mar 1, 2018$30mRound: ICOInvestors: Buck Stash, George Burke, Infinite Capital

Oct 29, 2019$3.8mRound: Investors: Framework Ventures

Dec 15, 2020$12mRound: Investors: Coinbase Ventures, Paradigm, IOSG Ventures

Protocol Information

Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi.

WebsiteGitHubX/Twitter
Category:Derivatives
Products:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Synthetix v1+v2 - Fees generated on each synthetic asset exchange, between 0.1% and 1% (usually 0.3%)View code on GitHubSynthetix V3 - Fees generated from tradesView code on GitHubSynthetix V4 - Trading fees paid by users on Synthetix v4 perpetual futures trades.View code on GitHub

Revenue:

Synthetix v1+v2 - Fees paid by users and awarded to SNX stakersView code on GitHubSynthetix V3 - Fees paid by users and awarded to LPsView code on GitHubSynthetix V4 - Trading fees retained by the protocol.View code on GitHub

Holders Revenue:

Synthetix v1+v2 - Fees are granted proportionally to SNX stakers by automatically burning outstanding debt (note: rewards not included here can also be claimed by SNX stakers)View code on GitHubSynthetix V3 - Fees are granted proportionally to LPs by tracking the profit and loss of the positions backed by Synthetix V3View code on GitHubSynthetix V4 - Fees going to governance token holdersView code on GitHub

Perp Volume: Notional volume of all trades including leverage on the perp exchange

Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.

Earnings: Revenue of the protocol minus the incentives distributed to users

Hacks

Date: Jun 25, 2019

Protocol: Synthetix v1+v2

Classification: Oracle Manipulation

Technique: Oracle Misconfiguration

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Competitors

Aevo Perps ($15.23m)Contango V2 ($12.38m)Derive V2 ($483,929)Vest Markets ($269,473)Lynx ($155,716)Apex Omni ($31.09m)ApeX Pro ($1.43m)IPOR Derivatives ($497,682)Mummy Finance ($58,299)UniDex Perp ($28,174)

Frequently Asked Questions

What is Synthetix's TVL?

Synthetix currently has $898,491 in total value locked. TVL has increased 5.7% over the past 30 days.

What chains does Synthetix operate on?

Synthetix operates on 4 chains: OP Mainnet, Ethereum, Base, and Arbitrum. Ethereum holds the largest share at 100%.

How much has Synthetix generated in fees and revenue?

Over the past 30 days, Synthetix generated $9,176 in fees. Of that, $9,176 was protocol revenue. Based on the trailing year, the annualized rate is $28,985 in fees and $28,985 in revenue.

What is the SNX token price and valuation?

SNX is currently trading at $0.23. Its circulating market capitalization is $136.15m, ranking it #339. Its fully diluted valuation is $136.25m. Supply currently stands at 580.98m circulating, 581.4m total supply.

How has SNX performed recently?

SNX is down 6.6% over the past 7 days and up 7.5% over the past 30 days. Its all-time high is $28.53, reached on Feb 13, 2021. The token is currently 99.2% below that level.

How does Synthetix's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Synthetix ranks #55 by TVL. The category holds $2.025b across 419 protocols, and Synthetix accounts for <0.1% of that total. Other leading protocols include Aevo Perps, Contango V2, Derive V2, Vest Markets, Lynx, Apex Omni, ApeX Pro, IPOR Derivatives, Mummy Finance, and UniDex Perp.

How much perpetual futures volume does Synthetix process?

Synthetix processed $91.71m in perpetual futures volume over the past 30 days.

Does Synthetix have a treasury?

Synthetix has a tracked treasury currently valued at $8.87m. Its holdings include $516,097 in stablecoins, $31,221 in major assets, $7.76m in its own tokens, $569,799 in other assets.

Has Synthetix ever been exploited?

Synthetix has 1 recorded security incident. The most recent incident occurred on Jun 25, 2019. It was classified as Oracle Manipulation.