Synthetic is a protocol for issuing and trading synthetic assets based on Ethereum. Synthetic assets, synthetic tokens or synth are RC20 tokens that track the price of an external assets. It consists of smart contracts and a set of incentives, the value of the network token also acts as collateral, for the production of a synthetic asset, a lock of the proportional value of SNX is required, which allows you to instantly convert between synthetic assets without the problems with liquidity and slippage that other decentralized exchanges. The resulting token network supports a wide range of use cases, including trading, loans, payments, money transfers, e-commerce, and more.

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Synthetix is a protocol for the release of synthetic assets on the Ethereum blockchain. The project supports the idea of stablecoins by adding the ability to create a digital copy of any asset. The sUSD is a digital copy of the US dollar.

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Synthetix's Andromeda Release: Embracing Buyback and Burn

With the Andromeda Release on @base , 40% of Perps V3 fees will be allocated to buying back and burning $SNX tokens using @yearnfi -inspired contracts.     

This strategy is designed to effectively distribute fees in…

Synthetix's Andromeda Release: Embracing Buyback and Burn.