Synthetix DAO has announced a $12 million dollar fundraise led by venture capital firms Paradigm, Coinbase Ventures, and IOSG. It has been reported that the funds purchased SNX tokens directly from the DAO treasury, and “will contribute where possible by providing liquidity in the form of SNX collateral, and also participate in its rapidly evolving community governance system.” Arjun Balaji, the Investment Partner of Paradigm, said: “We’re excited about supporting the synthet
Global DeFi Alliance, Huobi’s decentralized finance (DeFi) consortium, has welcomed 10 new members, bringing its total membership to 15 that include Curve Finance, Aave, Synthetix, Balancer Labs, Loopring, Zapper, Zerion, Bitpie, Mykey, and CoinGecko. It has been reported that they join founding members Maker Foundation, Compound, NEST Community, dYdX, and Huobi DeFi Labs to explore “cross-border collaboration opportunities” and promote the development of the DeFi ecosystem.
Synthetix (SNX) has reached the $1 billion in value locked milestone, following other DeFi protocols like Compound and Aave, as Synthetix has been one of the many DeFi tokens that have made substantial gains in 2020, having hit its all-time high of $7.32 on August 15 and rallied more than 400% year-to-date. It has been reported that most of the hype around the 2020 altcoin season has been focused around lending, liquidity, and yield farming within crypto. However, Synthetix h
DeFi projects gained speed in the past few months as locked in value reaches $9.02 billion. It has been reported that Aave continues to be the largest DeFi project, with $1.71 billion locked, followed by MakerDAO with $1.43 billion, Balancer at $1.36 billion, Curve Finance at $1.26 billion, yearn.finance at $953.6 million, and Synthetix with $871 million. However, Yearn’s YFI token surged 75% in the past day, with its price hitting $38,883 on Binance, as the price moved its m
Synthetix unveils its new decentralized asset management platform dHedge, emerging out of stealth mode. The new decentralized asset management platform takes benefit out of its non-custodial mimetic trading for Synths, or tokens that provide exposure to assets such as gold, Bitcoin and even the U.S. dollar on the Ethereum blockchain. We’re excited to share the launch of @dHedgeOrg, a new decentralised asset management protocol powered by Synthetix, which is now live on Ropste