Dapp store Ethereum DeFi dapps Decentralized synthetics

Synthetix

Alchemy CustomerDecentralized synthetics

Synthetix

Synthetix is a decentralized perpetual futures and synthetics protocol on Ethereum offering onchain custody with offchain performance.

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What is Synthetix?

Synthetix is a decentralized perpetual futures and synthetics protocol on Ethereum Mainnet, originally founded by Kain Warwick in 2017. The platform offers perpetual futures with onchain custody and an offchain order book for low-latency matching. Users can trade with multicollateral margin using ETH, wstETH, cbBTC, or sUSDe. The Synthetix Liquidity Provider (SLP) pool lets anyone deposit sUSD to earn market-making returns from spreads, fees, and liquidations. Synthetix also features the 420 Pool for SNX staking with no liquidation risk. Synthetix has expanded beyond its original synthetic asset issuance to become a full perpetual futures platform, combining the security of Ethereum Mainnet settlement with competitive trading performance.

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Synthetix alternatives

Explore web3 competitors and apps like Synthetix.

Ethena

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Ethena issues USDe, a crypto-native synthetic dollar backed by delta-hedged ETH and BTC, with sUSDe earning yield from staking and basis-trade returns.

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Dinari is a tokenized securities platform that issues 1:1 backed dShare tokens representing US stocks, ETFs, and more.

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A synthetic dollar protocol on Avalanche that issues UTY, a market-neutral stablecoin paired with yUTY as its yield-bearing variant.

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Metronome Synth enables users to generate a variety of synthetics using crypto assets as collateral.

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App store listings are independently reviewed and written by Alchemy using a combination of inbound submissions, editorial research, public project sources, and third-party directories, including ecosystem data from The Grid under the Open Database License, DefiLlama, DappRadar, Reown, and chain ecosystem pages.

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