Derivatives liquidity protocol
Synthetix, originally founded as Havven is a decentralized synthetic asset issuance protocol where users can mint, hold and trade a range of derivatives including fiat currencies, stocks, cryptocurrencies, and more. Users can gain both long and short exposure to all assets on the platform.
Synthetix has its own synthetic assets called Synths, which are collateralized by the Synthetix Network Token (SNX) to drive value and liquidity. In addition to that, it also offers binary options trading. Synthetix is a well-known DeFi platform in the market, and the company was able to raise more than $30M in early 2018 through an initial coin offering.