Synthetify Market Cap
24h Trade Volume
All-Time-High (ATH) Price
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.
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
Synthetify Quarterly Returns ($)
Synthetify Closing Price (USD) - Quarterly
Synthetify Monthly Returns ($)
Synthetify USD (SNY - USD) Price Change
|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
|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 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.
- 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.
- 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.
- 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.