About

Synthetix is a decentralized finance platform offering liquidity for various derivatives such as perpetual futures, options, and parimutuel markets across Ethereum Virtual Machine (EVM) chains. It supports a range of DeFi applications, facilitating trading with low slippage and competitive fees. Synthetix also includes a staking mechanism, allowing users to contribute collateral to enhance market robustness and earn rewards.

History

Synthetix USD was previously known as nUSD on the Havven protocol, and is a dollar-pegged stablecoin issued as one of the physical assets digitized on the Synthetix Network. sUSD, like other Synthetix assets, are called Synths and issued via the native SNX token on the Ethereum blockchain.