Synthetix empowers the Ethereum blockchain to enable the creation of synthetic assets representing real-world assets.
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Synthetix, established by Kain Warwick in 2017, is a pioneering platform that enables users in the decentralized finance (DeFi) space to access traditional assets such as Gold and Silver on the blockchain.
By utilizing oracles, Synthetix ensures that the prices of synthetic assets are aligned with their real-world counterparts. This integration of blockchain technology allows crypto users to leverage traditional assets in a secure and efficient manner. Notably, Synthetix has expanded its operations to the Optimism L2 network and currently holds over 50% of the total value locked (TVL) in recorded Synthetic assets.
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