|All Time High:|
|Market Cap: |
|The price of #SNY today is $0.15 USD.|
The lowest SNY price for this period was $0, the highest was $0.152, and the exact current price of one SNY crypto coin is $0.15228.
The all-time high SNY coin price was $4.87.
Use our custom price calculator to see the hypothetical price of SNY with market cap of BTC or other crypto coins.
|The code for Synthetify Token crypto currency is #SNY. |
Synthetify Token is a newer coin by our records, at least 11.1 months in age.
|The current market capitalization for Synthetify Token is $1,760,338.|
Synthetify Token is ranking upwards to #803 out of all coins, by market cap (and other factors).
|The trading volume is modest today for #SNY.|
Today's 24-hour trading volume across all exchanges for Synthetify Token is $19,309.
|The circulating supply of SNY is 11,560,000 coins, which is 12% of the maximum coin supply.|
Note the limited supply of Synthetify Token coins which adds to rarity of this cryptocurrency and increases perceived market value.
Introducing multi collateral on Synthetify platform
Synthetify platform was intended to use its native token — SNY as a single collateral for minting and burning synthetic assets. Now we’ve decided to improve on our idea and introduce a multi collateral solution. Here’s a short explanation of what it is and why we think it’s a step in the right direction.. — — How did a single collateral with SNY work?. — Synthetify platform uses its native token SNY and enables:CreationBurningExchange of synthetic assets. SNY can be locked by a user in a smart contract in order to create synthetic USD (xUSD). This action is called Staking and it entitles users to a share of fees generated on Synthetify exchange. Later xUSD can be exchanged on Synthetify exchange for other synthetic assets listed on platform. To unlock their SNY, Stakers need to burn synthetic assets equal to the value of their debt. Each user needs to maintain a sufficient collateral ratio — meaning the ratio of the amount of locked tokens to the value of minted synthetic assets. If the user becomes undercollateralized their collateral will be liquidated, meaning burning their synthetic assets and transferring part of their collateral to a Liquidator for paying back the Staker’s debt.Platform will use multiple assets such us SOL, BTC or ETH along with SNY as a collateral for xUSD creation. — What is multi collateral?. — Multi collateral means using not a single but many typ...
Synthetic assets — where to get started?
Synthetic assets — where to get started? In recent years the world of finance and assets as we know it is being turned upside down. Nowadays we have a new stream of ideas coming from crypto finance and the openness of blockchain systems. Decentralized finance platforms (DeFi) are offering more ‘traditional’ concepts like exchanges and lending but also something completely novel — synthetic assets.So what are synthetic assets? Synthetic assets are blockchain-based cryptocurrency derivatives — that means that they derive their value from an underlying asset or index. A synthetic asset is simply a tokenized derivative which means that the relationship between derivative and underlying asset is tokenized rather than created by using a contract. By doing so, users can get exposure to different assets within one cryptocurrency ecosystem and without the need to hold the underlying asset. Crypto synthetic assets also offer the benefits of decentralization. On synthetic assets exchanges such as Synthetify platform synthetic assets closely track the price of specific assets assigned to them e.g. xBTC will have the same price as BTC on centralized exchanges.Photo by Markus Winkler on UnsplashDecentralized platforms for synthetic assets Synthetify is a Solana-based DeFi platform that can be used to mint (create), exchange and burn synthetic assets. The app consists of Synthetify exchange where users can exchange sy...
Synthetify’s new solution for managing your assets
Here at Synthetify we’re creating a new platform that will help to manage your synthetic assets. Synthetify protocol enables creation, exchange and burn of synthetic assets based on prices provided by a decentralized system of oracles. On Synthetify exchange trading is executed against the public debt pool that allows for almost infinite liquidity and zero slippage even during big trades.Minting synthetic assets Synthetify protocol is a Solana blockchain based platform that enables creation and burn of synthetic assets by participating in a debt pool. All that can be done by becoming a Staker and locking one’s collateral SNY tokens inside a smart contract and using it to create synthetic USD (xUSD) that can be later exchanged for other types of synthetic assets listed on the Synthetify exchange. To unlock SNY tokens Stakers need to burn their synthetic tokens equal to the value of their debt. Collateral is dependent on the price of SNY token and debt is calculated based on Staker’s share of debt of the entire platform. Prices of all synthetic assets are provided by decentralized oracles build on top of Solana blockchain. Only synthetic USD (xUSD) has a static predefined value that is 1 USD.Synthetic assets exchange Synthetify exchange allows users to engage in trading activity without the need of a direct counterparty. The platform allows users to exchange synthetic assets listed on the platform even for users who do ...