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    • Creating Accounts
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      • Liquidity Pools
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    • Base LP Guide
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    • Creating and Configuring Pools and Vaults
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Synthetix Overview

Synthetix, the derivatives liquidity protocol

PreviousOrientationNextDevelopment Progress

Last updated 5 months ago

  • Some v3 functions are yet to be enabled, see Development Progress

  • If you were looking for V2, visit the V2 documentation .

Synthetix is an , decentralized finance (DeFi) protocol written in Solidity, which can be deployed on EVM-compatible blockchains. The protocol is , including the Spartan Council which votes on . See the current deployments' .

The protocol allows liquidity providers (LPs) to delegate collateral to liquidity pools. LPs can then take out a loan of snxUSD stablecoins. This mechanism is similar to other DeFi protocols which implement collateralized debt positions, such as .

Unique to Synthetix is the ability for liquidity pool managers to configure these pools to extend credit to derivatives markets. These markets generally rely on decentralized oracle networks (such as and ) to retrieve the price of off-chain assets and issue on-chain derivatives of these assets. Analogous to , in exchange for extending credit to markets (allowing them to always fill orders for traders), markets can collect and deposit fees. This creates an incentive for liquidity providers by reducing the debt of their positions.

Anyone can interact with the and the Synthetix V3 .

here
open source
governed by DAOs
upgrades and configuration changes (SIP/SCCPs)
Addresses + ABIs
Liquity
Chainlink
Pyth
Uniswap
Synthetix V3 core system
market implementations