Cryptopedia - Synthetix
## What Is Synthetix (SNX)? Synthetix is a decentralized perpetual futures protocol built on Ethereum Mainnet. Synthetix Exchange uses a hybrid design — 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. Traders get CEX-like performance with on-chain security and composability. Synthetix is powered by SNX stakers (who secure the protocol and govern it), SLP depositors (who supply capital to the SLP community market making vault), and a broader community of builders. The protocol evolved from its early “synths” model (v2) to Perps and a modular v3 architecture that supports cross-margining and multiple collateral types, with the primary focus now back on Ethereum Mainnet.
Kain Warwick
Jordan Momtazi