Review on Synthetix Network Token by Fanuel PORPORTY
Synthetix Network - Decentralized trading
Synthetix Network is a decentralized network which allows you to trade differents values such as cryptocurrencies, long bets, shots bets, forex but also commodity such as gold, silver, oil and other. We can also trade the stock market (the platform has just added an indicator on the Tokyo and London stock markets). In other words we can directly, from Synthetix Network without third party, without broker, trade London stock exchange.
Synthetix Network has the peculiarity to be a rare decentralized finance project. To operate, it uses 3 differents dApps : MINTR which is the gateway to the network, Synthethix exchange which is the exchange platform and Synthetix dashboard which gives an overview of the network. Unlike the DAO maker, the Synthethix Network represents in my opinion an application and sure demonstration of the power of decentralized finance.
Pros
- No liquidity problem. we can exchange a large amount of cryptocurrencies without lowering the price
- The MINTR stacking platform which allows you to block your SNX tokens to gain interest. (50% interest)
- The transaction costs are distributed between the stakers because it is they maintain the network
Cons
- Very little communication around the project
