Synthetix Docs
  • User Docs
  • Synthetix Exchange
  • Leveraged Tokens
  • For Developers
  • Orientation
  • Synthetix Overview
  • Development Progress
  • V3 FAQ
  • For Developers
    • Technical Architecture
    • Quick Start
      • Base Quickstart
    • Smart Contracts
    • Data Platform
    • Data Dictionary
    • Addresses + ABIs
    • Deployment Info
      • Mainnet
      • Sepolia
      • Sepolia Carina
      • Optimism Mainnet
      • Base Mainnet Andromeda
      • Base Sepolia Andromeda
      • Arbitrum Mainnet
      • Arbitrum Sepolia
    • Smart Contract Audits
    • Perps Market
    • Spot Market
    • Developer FAQ
  • For Perp Integrators
    • 101
    • Perps V3
    • L1 Perp (BFP)
    • Base Andromeda
    • Perps Python SDK
    • Perps V3 Keepers
  • For Liquidity Integrators
    • Creating Accounts
    • Delegating Collateral
      • Liquidity Pools
    • Liquidity Positions
      • Minting and Burning snxUSD
      • Position Liquidations
    • Base LP Guide
  • For Liquidity Pool Managers
    • Creating and Configuring Pools and Vaults
    • Collateral Vaults
      • Vault Liquidations
    • Rewards Distributors
    • Credit and Debt Distribution
  • For Derivatives Market Builders
    • Build on v3
    • Market Development Guide
    • Build on v3 FAQ
    • Operating a Market
    • Registering a Market
  • For Governance Participants
    • Synthetix Governance
    • Elections
  • For Designers
    • Design Resources
Powered by GitBook
On this page

Synthetix Overview

Synthetix, the derivatives liquidity protocol

PreviousOrientationNextDevelopment Progress

Last updated 6 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