Synthetix Price - SNX/AUD : $0.7202
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What is Synthetix (SNX)?
Synthetix (SNX) is a liquidity protocol for derivatives on Ethereum that enables both the issuance and trading of synthetic assets. Each synthetic asset, otherwise known as a Synth, is an ERC20 token that tracks the price of the asset it is based on using an oracle. As an example, sUSD which is a Synth of a US Dollar will track the price of the US dollar.
There are a wide variety of Synths that exist which are built on the Synthetix protocol including cryptocurrencies, fiat currencies, commodities and indexes.
Frequently asked questions
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Trending cryptocurrencies
- XRP (XRP)Aud 3 .28588−2.94%
- Bitcoin (BTC)Aud 160,841 .87−1.26%
- Ethereum (ETH)Aud 3,692 .58−2.1%
- USD Coin (USDC)Aud 1 .52032−0.12%
- Dogecoin (DOGE)Aud 0 .24109−4.42%
- Tether USD (USDT)Aud 1 .52271+0.03%
- Solana (SOL)Aud 224 .6297−3.91%
- Cardano (ADA)Aud 0 .82819−4.8%
How we treat client assets
No commingling of customer funds: we keep client assets completely separate from our own.
1:1 reserves
We maintain a full 1:1 reserve of all client fiat and crypto assets.
We hold the vast majority of crypto assets in secure offline cold storage, protected in underground vaults with maximum security.
Audited
Our books are balanced and we carry no debt on our balance sheet. We engage external auditors to undertake an annual audit of our financial statements in accordance with Australian Accounting Standards. This includes verification of all fiat and crypto balances held in custody on behalf of clients.
Segregated funds
We do not commingle customer funds. We maintain complete segregation of all client assets to ensure that when you need to make a withdrawal you can.
We keep your assets safe. That is our promise.
Sole custodian
Independent Reserve is the sole custodian of all crypto assets held on our platform. Custody is managed in Australia and we do not use any third party custodians.
We adhere to industry best practices and never lend or trade your assets.