Synthetify Price Today (Official) | Live SNY Price Chart in USD | CryptoRank.io
Currencies
10066
Market Cap
$ 2.67T
+1.66%
24h Spot Volume
$ 47.15B
-0.31%
BTC Dominance
43.04%
-1.78%
ETH Gas
52 Gwei

Synthetify [SNY]

 
On 7 watchlists
Rank: 787
Token:
Solana
USD 4.46
-1.96
BTC 0.000073
-1.97
ETH 0.00108
-5.05

Synthetify is a simple, decentralized protocol for synthetic assets built on Solana

Synthetify Market Cap

$ 25,330,172 
Ƀ 415
FDMC: $ 445,561,506 
ATH: $ 42,288,491 

24h Trade Volume

$ 98,989 
Ƀ 1.62
SNY 22,217

Supply

Circulating:
SNY 5,685,000(5.68%)
Total:
SNY 100,000,000
Max:
SNY 100,000,000

All-Time-High (ATH) Price

$ 7.44 (09 Sep 2021)
Ƀ 0.000159 (12 Sep 2021)
ETH 0.00217 (12 Sep 2021)
From ATH: -40.1%
To ATH: +66.9%

Synthetify's current price is $ 4.46, it has dropped -1.96% over the past 24 hours.

Synthetify's All Time High (ATH) of $ 7.44 was reached on 9 Sep 2021, and is currently -40.1% down.

The maximum supply of Synthetify that will ever be issued is 100.00 Millions tokens, and the current supply of SNY in circulation is 5.69 Millions tokens.

Synthetify’s 24 hour trading volume is $ 98.99 Thousands.

Synthetify's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 25.33 Millions.

You can find more details about Synthetify on its official website and on the block explorer.

Synthetify Price

Synthetify price Index provides the latest SNY price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

The Synthetify to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

SNY to USD Converter

SNY

Synthetify Quarterly Returns ($)

YearQ1Q2Q3Q4
2021+96%-12.2%

Synthetify Closing Price (USD) - Quarterly

YearQ1Q2Q3Q4
2021$ 5.08

Synthetify Monthly Returns ($)

YearJanFebMarAprMayJuneJulyAugSeptOctNovDec
2021+37.5%+42.5%-12.2%
Average+37.5%+42.5%-12.2%
Median+37.5%+42.5%-12.2%

Synthetify USD (SNY - USD) Price Change

PeriodChangeChange (%)HighLow
24H-$ 0.0889-1.96%$ 4.56$ 4.41
7D$ 0.166+3.87%$ 5.23$ 4.27
14D-$ 1.05-19.1%$ 5.52$ 4.27
1M-$ 0.955-17.7%$ 6.00$ 4.27

Synthetify Annual Price

YearUSDHighLow
2021+72%$ 7.43$ 2.59

What is Synthetify

Synthetify is an upcoming synthetic assets platform, fully built on the Solana blockchain.

The platform aims to provide a bridge between cryptocurrencies, stocks, fiat currencies, and other financial instruments directly from one decentralized exchange.

Synthetify solves critical problems seen on other Synthetic assets platforms like: high fees, long confirmation times and losses caused by arbitrage during sharp market moves.

Synthetify will introduce it's own token that will act as collateral for synthetic assets, reduce fees on Synthetify and hold voting power during governance decisions

The 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. Participants of the debt pool earn pro-rata exchange fees for acting as counter-parties during trades. Debt pool participants need to constantly hold sufficient collateral in Synthetify tokens (SNY to ensure platform stability.

Synthetic Assets

  • Synthetic assets created on Synthetify exchange will strictly track the price of underlying assets provided by decentralized oracles. All synthetic assets are SPL-token based and will act just like all other Solana based tokens. This will enable further usage on other platforms like AMMs with almost frictionless integration. Debt pool participants need to burn synthetic assets to improve their collateralization ratio or to free up collateral.

Staking

  • Users who lock their SNY tokens and mint synthetic assets incurring exchange debt are called Stakers. Stakers benefit from trading on Synthetify Exchange thanks to accruing pro-rata exchange fees from each transaction. All Stakers need to maintain a sufficient collateral ratio or part of their collateral can be liquidated to ensure network safety. Collateral is dependent on the price of SNY token and debt is calculated based on their share of debt of the entire platform.

Trading

  • Traders use Synthetify to swap between different synthetic assets. Traders do not need SNY tokens to perform trades but holding SNY reduces fees charged on asset swaps. Only swaps between synthetic assets are permitted on Synthetify based on current prices provided by the oracle. Some assets have a limited supply that can be minted.

Liquidation

  • To ensure platform stability, undercollateralized Stakers can be liquidated, and part of their collateral will be transferred to Liquidators in exchange for paying back part of the Staker debt. Liquidation includes penalties of 80% that is transferred to Liquidators and 20% to an Exchange owned account to improve platform stability.