Review on Synthetix Network Token by Ceren Taskiran
What works and downsides of Synthetix Network Token
It is a stable cryptocurrency. Its price is neither decreasing nor increasing.
It has a good payment network and price stability was excellent.
I knew how much I would pay when investing because the price was fixed. The only downside is that it will not be done to make money.
independent investment also seemed pretty good to me.
The double tier collateral system allowed me to exchange directly between Synths via smart contracts, eliminating the need for a 3rd party. This both worked for me and seems to have worked for other users.
seems to be keeping up with the needs of the present. I think it is because stable coins work for investors like me.
very easy to use, reliable, and the support team works well. I have some complaints but it can be ignored.
Frankly, I am pleased that SNX is working on ethereum because it has met my needs.
SNX also offered me a decentralized exchange and I was very satisfied.
I have also reached more than 20 different synths. This is a huge advantage.
I completed my transactions quickly, easily and reliably, thanks to the p2c algorithm.
On the other hand, the pool of token holders like me is responsible for the collateral and stability thanks to the distributed collateral pool.
what more could you want
?
I contributed to synthetix and as I learned, I got an award from the prize pool. I really like how the platform rewards me in this way.
I earned snx against staking and got a discount on transaction fees.
Pros
- It offers decentralized exchange.
- easy, fast and reliable transactions.
- Developers and participants who contribute to Synthetix Network are rewarded by the platform.
- There is endless liquidity advantage in the stock market offered by the platform.
Cons
- It is very difficult to make money just because it has a fixed price.
