Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.04% | 1.63% | 7.38% | 8.57% | 14.46% | 29.65% |
Revenue & Burn
Protocol income
$2.04KBuyback funds
$0Burn funds
--Buyback ratio
0.0%Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $2.04K | $0 | -- | 0.0% |
| Sep 2026 | $10.76K | $0 | -- | 0.0% |
| Aug 2026 | $1.73K | $0 | -- | 0.0% |
| Jul 2026 | $0 | $0 | -- | -- |
| Jun 2026 | $0 | $0 | -- | -- |
| May 2026 | $5.92K | $0 | -- | 0.0% |
Comparison
Investment
Sub Organizations
Tokenomics
Unlock Progress
On-chain Holding
| Holding Token | Price | Amount | Total Value |
|---|---|---|---|
| No Data | |||
Top Holders
| Address | Token | Quantity | 7d | Percentage | Value |
|---|---|---|---|---|---|
| 0x3265...cf6d |   SNX | 236,464,356 | -- | 40.67% | $52.66M |
| 0xb75e...54a3 | SNX | 68,509,515.65 | -- | 11.78% | $15.25M |
| Synthetix Treasury Council (4a92) | SNX | 33,714,881.81 | -- | 5.8% | $7.5M |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | OOKXCEX | SNX/USDT | $0.4154 | $26,710 | $49,176 | $2,720,030 | 61.97% |
| 2 | HHTXCEX | SNX/USDT | $0.4202 | $255 | $3,067 | $2,298,240 | 52.36% |
| 3 | SNX/USD | $0.416 | $49,907 | $64,887 | $1,033,008 | 23.54% | |
| 4 | BBybitCEX | SNX/USDT | $0.4159 | $30,941 | $53,678 | $816,537 | 18.60% |
| 5 | PPhemexCEX | SNX/USDT | $0.4157 | $2,805 | $3,232 | $808,458 | 18.42% |
| 6 | BBithumbCEX | SNX/KRW | $0.4227 | $4,820 | $10,323 | $479,874 | 10.93% |
| 7 | BBingXCEX | SNX/USDT | $0.4157 | $67,933 | $65,116 | $318,759 | 7.26% |
| 8 | KKrakenCEX | SNX/USD | $0.416 | $58,119 | $77,173 | $183,238 | 4.17% |
| 9 | KKrakenCEX | SNX/EUR | $0.4165 | $22,138 | $26,482 | $72,523 | 1.65% |
| 10 | BBitgetCEX | SNX/USDT | $0.4159 | $14,231 | $8,339 | $63,446 | 1.45% |
Follow Updates
Follow Lists
People
About Synthetix
Synthetix is a decentralized synthetic asset protocol. Users mint synthetic assets such as sUSD by staking SNX and can trade them on its perpetual futures market. Its core mechanism is over-collateralization and oracles, simulating real-world asset prices in a decentralized manner.
Market pain point: Traditional derivatives rely on centralized intermediaries, incurring credit risk and access barriers. Synthetix uses smart contracts for automated collateralization, liquidation, and settlement, allowing users to trade synthetic assets without trusting a third party.
Recent six months (March to September 2026): Synthetix underwent major changes. In June, the community passed SIP-423, deciding to phase out the native stablecoin sUSD. Prior to this, sUSD had severely depegged, trading around $0.25. In August, SIP-423 was implemented: sUSD was frozen, and holders could exchange 1 sUSD for 4 SNX, with a one-year lock-up and one-year linear vesting. The SNX staking mechanism was also reformed, removing the previous sUSD collateral ratio requirement and migrating remaining debt to a new staking model, with participants allowed to exit early by fully repaying debt. This reset increased SNX total supply from approximately 344 million to 581 million. The protocol stated the goal is to eliminate endogenous dependencies and lay a foundation for expanding its perpetual futures business on Ethereum mainnet.
Synthetix, a decentralized synthetic asset protocol, has undergone a strategic transformation. Its founder announced a return to the Ethereum mainnet and adoption of an off-chain order book model, marking a shift from its previous multi-chain AMM approach. The protocol subsequently launched a perpetual contract DEX on Ethereum mainnet, introducing an incentive program in Q1 of the following year. A significant governance milestone was the SIP-423 proposal, which deprecated sUSD and reformed the SNX staking mechanism, compensating holders with locked SNX at face value. The 2026 roadmap focuses on six key areas, including stock buybacks and multi-collateral transactions, aiming to restore sUSD's peg and drive protocol growth. These developments represent critical long-term pivots in Synthetix's evolution.
Positive: March 2026 roadmap directs 100% of trading revenue to SNX/sUSD buybacks and burns (50/50), shifting fully to SNX after sUSD peg restoration; multi-collateral perps launched, accepting ETH/cbBTC as margin and unlocking idle mainnet assets; SLP vault public launch with ~20%-45% APY; over 50% of circulating SNX staked with no team or VC unlocks.
Negative: SIP-423 passed and executed in June, deprecating sUSD and minting 236M new SNX, lifting total supply from 344.9M to 581.4M tokens and causing severe dilution; SNX remains ~99% below its all-time high; redirecting fees to buybacks compresses staking rewards.
Kain Warwick is the founder of Synthetix. He previously founded Blueshyft, an Australian cash payment gateway, and later established Infinex. His background in traditional finance and technology shaped Synthetix's design.
Jordan Momtazi is a core contributor at Synthetix, serving as co-founder of Block Earner and former head of partnerships. He has experience in sales and business development at PayPal, focusing on blockchain and digital payments.