Review on Synthetix Network Token by RODRIGO REIS
A project to be closely monitored
Synthetix is a protocol created on Ethereum network that allows generate and trade synthetic assets. In Synthetix platform there is a great variety of assets, fiat currencies and commodities
SNX holders can stake this token. And They can rewarded for supporting the Synthetix system.
Synthetix is a interesting project with good features. But, it is still a project in development. Therefore, It`s important to pay attention on possibles risks A project to be closely monitored
Pros
- Synthetix Network token is a decentralized payment system in which users can trade and make payments
- In Synthetix Network you can create synthetic assets in the Ethereum protocol. These assets are collateralized at 800% by the token SNX
- Users that create synthetic assets earn a percentage of the SNX token.
- Token SNX has a good value. It can trade in a large number of exchanges
- Token has nice market cap and trading volume. At the moment, the token SNX is on top 50 cryptomarket rank
Cons
- This is a new project in development. The platform Synthetix is improving
- Oracles will define some prices, It can conduce on doubt or create a bad judgment by network users
