Synthetix is a decentralized finance (DeFi) platform that enables the creation and trading of synthetic assets on the Ethereum and Optimism blockchains. The platform leverages Proof of Stake (PoS) as its consensus mechanism on the Ethereum blockchain to ensure security and scalability. Synthetix allows users to create “Synths,” which are digital representations of real-world assets, such as currencies, commodities, and stocks. By leveraging smart contracts, Synthetix removes the need for intermediaries and provides an open and accessible financial system for users globally. Additionally, the platform offers unlimited liquidity and supports a wide range of markets, making it a key player in the DeFi ecosystem.

If you choose to hold this asset in Safello's wallet, the holding is solely for investment purposes. You cannot use features linked to the asset's network or protocol – such as governance voting rights or staking rewards – through Safello's platform.