
Synthetix alternatives
Synthetix is a decentralized asset management and insurance protocol that is built on the Ethereum blockchain. The platform can be used to deposit and secure your digital assets and have them insured. The synthetic assets are collateralized by SNX, which enables asset insurance. Synthetic assets provide exposure to an asset without holding the underlying resource. This has a range of advantages, including reducing the friction when switching between different assets, for example, from Apple shares to synthetic gold, expanding the accessibility of certain assets, and censorship resistance.
Trading on Synthetix provides many advantages over other centralized exchanges. The lack of an order book means all trades are executed against peer-to-contract trading. Assets are assigned an exchange rate through price feeds supplied by an oracle and can be converted using the Synthetix app. This provides infinite liquidity up to the total amount of collateral in the system, zero slippage, and permissionless on-chain trading.






























