Synthetix, formerly Havven, is a cryptoasset-backed network that enables the creation of on-chain synthetic assets. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc.), synthetic commodities such as gold (sXAU), as well as more complex assets such as equity indices.
The Founders of Synthetix and Chainlink on DeFi, Derivatives and 25 New Decentralized Price Feeds
The evolution and goals of Synthetix, a novel type of derivatives exchange where users can interact with any asset with a price feed.
Sophisticated Trading Bot Exploits Synthetix Oracle, Funds Recovered
When Ethereum-based synthetic asset issuance platform Synthetix, which allows users to mint and trade synthetic currencies in a peer-to-peer fashion, lost track of more than 37 million synthetic Ether on June 24, the company stopped all trading on its platform.
Synthetix Reverses Oracle Error-Caused Misplaced sETH in Exchange for a Bug Bounty
Following a recent oracle issue, asset issuance platform Synthetix will reverse the misplaced 37 million synthetic ether in exchange for a bug bounty, Synthetix founder Kain Warwick stated on June 25.
Ethereum-Based Synthetic Asset Platform Loses Over 37M Tokens in Oracle Attack
The Ethereum-based synthetic asset issuance platform Synthetix has lost over 37 million synthetic ETH in an oracle attack, according to a report by The Block on June 24.While the amount of sETH in question is known to be over 37 million, the price of this loss in U.S. dollars is reportedly unknown due to its relative illiquidity on secondary markets.