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Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimism, enabling the creation and trading of synthetic assets and derivatives without traditional counterparties.
Synthetix is a DeFi protocol that allows users to create and trade synthetic assets called synths, which track the value of real-world assets without requiring ownership of the underlying asset.
The system is collateralized by stakers who lock up SNX tokens and mint Synthetix's sUSD stablecoin, enabling trading with excellent liquidity and no slippage between Synths. This pooled collateral model solves liquidity issues faced by traditional DEXs and provides the foundation for various derivative products.
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