Synthetix (SNX)

Synthetix is a decentralized protocol built on Ethereum. It enables users to deal in synthetic assets, which are tokenized derivatives of their underlying assets. In other words, users can trade and hold synths without directly holding any of the underlying assets. What makes Synthetix unique in the crypto ecosystem is its offering of non-blockchain assets, like gold and silver synths. Its native token is SNX, which is used to pay out fees to holders who contribute to the network.