Decentralised synthetic assets

Synthetix.Exchange Overview

Synthetix.Exchange Overview

Next week we'll be launching Synthetix.Exchange out of its beta phase. We're extremely excited about the wide range of features we'll continue to add to it this year, and this post provides a quick overview of what it is, how it works, and what its upcoming features will enable users to do for the first time on Ethereum.

What is Synthetix.Exchange?

Synthetix.Exchange is a platform that allows anyone to access crypto-backed synthetic assets (Synths) without a counterparty. It provides an interface for converting between Synths seamlessly without liquidity restrictions. The Synthetix network's distributed collateral pool (provided by SNX holders) allows unbanked and crypto-native users to gain exposure to different assets that they might not otherwise have access to.

How does Synthetix.Exchange work?

Trading is as simple as choosing a Synth you are currently holding and choosing a Synth to convert into. Once the transaction has been processed on the blockchain, you’re done! All conversions are on-chain, and currently generate a 0.30% fee that are distributed to locked SNX holders.

Synthetix.Exchange currently supports several fiat currencies and commodities, and next week we'll be launching an even wider range of Synths, including sBTC. These will all be available to trade on the platform. It is currently compatible with MetaMask, Ledger, and Trezor wallets.

What's coming up for Synthetix.Exchange?

As per our roadmap, we're planning to launch many exciting new features on Synthetix.Exchange in 2019. These features are part of the new derivatives trading functionality, which will include the following:

  • Short/long positions
  • Leveraged trading
  • Equities & indices
  • Options & futures
  • Borrowing sUSD with ETH and DAI
  • Triggered orders

Our distributed collateral pool allows for a range of new possibilities in derivatives trading, as Synthetix.Exchange can offer more options than other platforms because its positions are not reliant on counterparties.

All feedback is welcome

We would love it if you gave Synthetix.Exchange a try and let us know any feedback you have. Any UI/UX improvements we can make are welcomed, as our aim is to ensure that anyone in the world can gain exposure to synthetic assets!

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