Now available: Account customization features. Never miss an update about the topics you care about most with our new notifications, event reminders and newsletter management features. Customize your settings now.
Synthetic asset issuance protocol, Synthetix, continues to draw attention, with Total Value Locked surpassing $630m and SNX commanding a $900m market cap.
Synthetix Exchange (SE) volume, however, continues to lag: as of July 27 SE had just 2.28% market share among non-custodial exchange protocols.
Without some form of funding rate, Synthetix may find itself cannibalized by secondary markets.
Footnotes
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.
