Synthetix : DeFi Wallet & Exchange 1.0.0 APKs
- Version: 1.0.0
- File size: 15.51MB
- Requires: Android 4.1+
- Package Name: com.synthetixex.mobile
- Developer: Synthetix PROTOCOL , Inc.
- Updated: March 16, 2021
- Price: Free
- Rate 4.80 stars – based on 19 reviews
Here we provide Synthetix : DeFi Wallet & Exchange 1.0.0 APKs file for Android 4.0+ and above. Synthetix : DeFi Wallet & Exchange game is listed in the Finance category of the app store. This is the latest and greatest version of Synthetix : DeFi Wallet & Exchange (com.synthetixex.mobile). It's easy to download and install to your mobile phone. Download the app using your favorite browser and click install to install it, don't forget to allow installation of apps from unknown sources. We provide direct download links with high download speed. Please note that we only share the original, free and pure apk installer for YouTube APK 17.33.42 without any modification.
All apps and games here are for home or personal use only. If any apk download violates your copyright please contact us. Synthetix : DeFi Wallet & Exchange is the property and trademark of the developer Synthetix PROTOCOL , Inc.. You can visit Synthetix PROTOCOL , Inc. website to know more about the company/developer who developed this game.
All versions of this game apk are available with us: 1.0.0. You can also download Synthetix : DeFi Wallet & Exchange apk and run it using popular android emulators.
THE DERIVATIVES LIQUIDITY PROTOCOL
Synthetix is the backbone for derivatives trading in DeFi, allowing anyone, anywhere to gain on-chain exposure to a vast range of assets.
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 solves 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.
What Is Synthetix Network Token (SNX)?
Synthetix Network Token is a decentralized finance (DeFi) protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol is based on the Ethereum (ETH) blockchain and offers users access to highly liquid synthetic assets (synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset.
The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.
Why SNX holders stake
SNX holders are incentivised to stake their tokens and mint Synths in several ways. Firstly, there are exchange rewards. These are generated whenever someone exchanges one Synth to another (i.e. on Synthetix Exchange). Each trade generates an exchange fee that is sent to a fee pool, available for SNX stakers to claim their proportion each week. This fee is between 10-100 bps (0.1% - 1%, though typically 0.3%), and will be displayed during any trade on Synthetix.Exchange. The other incentive for SNX holders to stake/mint is SNX staking rewards, which comes from the protocol’s inflationary monetary policy. From March 2019 to August 2023, the total SNX supply will increase from 100,000,000 to 260,263,816, with a weekly decay rate of 1.25% (from December 2019). From September 2023, there will be an annual 2.5% terminal inflation for perpetuity. These SNX tokens are distributed to SNX stakers weekly on a pro-rata basis provided their collateralisation ratio does not fall below the target threshold.