An analysis of Synthetix's binary options offering

DeFi ProtocolsJuly 23, 2020, 5:51PM EDT
UPDATED: March 10, 2022, 3:23PM EST
An analysis of Synthetix's binary options offering
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A discussion of the growth of decentralized finance apps in 2020 is not complete without mention of the leading DeFi derivatives platform Synthetix.

Synthetix currently offers a wide variety of crypto-backed synthetic assets — or Synths — which directly and inversely track the price of various cryptocurrencies, commodities and equities with the help of private oracles. They have over $500 million in Total Value Locked (TVL) according to defipulse.com.

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