About Synthetix

Synthetix is a decentralized protocol that facilitates perpetual futures trading on the Ethereum Mainnet. It employs a hybrid architecture that combines off-chain order matching through a centralized limit order book (CLOB) with on-chain settlement processes. This design approach aims to provide traders with low latency and deep liquidity, while also ensuring that transactions are resistant to miner extractable value (MEV) issues. By maintaining custody and finality on the Ethereum blockchain, Synthetix offers a trading experience that mirrors the efficiency of centralized exchanges while leveraging the security and composability inherent in decentralized finance. The liquidity within the Synthetix ecosystem is primarily supported by the Synthetix Liquidity Provider (SLP) vault, which is underpinned by staked SNX collateral. This collateralization not only facilitates the issuance of the sUSD stablecoin but also ensures the overall solvency of the SLP vault. As a result, traders can engage in synthetic asset trading with a level of assurance regarding the stability and liquidity of the assets involved, making Synthetix a notable player in the decentralized trading landscape.