Join Our Mailing List
Wednesday February 08, 2023
Bitcoin (BTC) $22,816.11   Ethereum (ETH) $1,641.19
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Blockchain Assets

Rebranding from Havven, Synthetix launches crypto-backed synthetic asset platform

Published by CryptoNinjas.net
12/06/2018
Rebranding from Havven, Synthetix launches crypto-backed synthetic asset platform

Synthetix has launched a new suite of crypto-backed synthetic asset tokens after rebranding from Havven (HAV). These tokens — priced against the Euro, Japanese Yen, Korean Won, Australian Dollar, and gold — complement Synthetix’s first stablecoin (sUSD), which tracks the US Dollar and was launched in June of this year. In addition to its rebranding and release of additional synthetic assets, Synthetix has also rolled out “Open Minting.”

Now, anyone holding the Synthetix Network Token (SNX) — previously known as HAV — can use it to issue any of the above-mentioned tokens, known as Synths. The Synthetix team has built and released Mintr, a dApp which allows users to carry out the minting process. SNX holders have already minted more than $1.5 million worth of sUSD.

“The rebrand from Havven represents a huge opportunity to clearly and memorably express the primary function of our system,” said Synthetix founder Kain Warwick. “And our ability to create a variety of synthetic assets against a single collateral pool is a major milestone for decentralized finance. We can now mint several different decentralized stablecoins, and the system has the potential to mint hundreds of different assets in the future.”

The Synthetix Network is a decentralized, crypto-backed network that enables the creation of on-chain synthetic assets. Synths are backed by SNX holders, who are rewarded for providing collateral and stability with fees generated by Synth transactions. Synthetix is currently operating on Ethereum, and will also launch on EOSIO early next year, when 50 percent of SNXeos tokens will be airdropped to SNXeth holders.

With today’s mainnet launch, Synthetix now has 6 synthetic assets available: sUSD, sEUR, sJPY, sKRW, sAUD, and sXAU. More Synths will be launched in the next few months, tracking assets such as the Chinese Yuan and equities indices.

Synthetix will release a platform very soon that allows Synth holders to swap between different Synths without a counterparty, opening forex trading possibilities and allowing users to diversify which fiat currencies their stablecoins are denominated in.

SNX tokens are currently available on KuCoin, Gate.io, and CoinSpot (AU), while sUSD is currently available on KuCoin and Cryptology.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Synthetix Exchange live with first decentralized price feeds from Chainlink

12/18/2019
Synthetix Exchange live with first decentralized price feeds from Chainlink

Synthetix, a platform that enables the creation of on-chain synthetic assets (Synths) on Ethereum, announced today that its integration with oracle service Chainlink is now live. The integration provides decentralized price feeds for a...

Read more

Ethereum powered synthetic asset platform Synthetix launches exchange index

08/20/2019
Ethereum powered synthetic asset platform Synthetix launches exchange index

Synthetix (formerly Havven), a platform that enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world, today launched a new category of Synth, Index Tokens, these...

Read more

Synthetix to use Chainlink to decentralize cryptocurrency price feeds

03/12/2019
Synthetix to use Chainlink to decentralize cryptocurrency price feeds

Synthetix, a decentralized synthetic asset exchange, today announced that it is working with Chainlink, a leading oracle network, to enable decentralized price feeds across the Synthetix trading platform. Integrating with Chainlink will allow anyone...

Read more

Synthetix launches sBTC, an Ethereum-based synthetic bitcoin

02/25/2019
Synthetix launches sBTC, an Ethereum-based synthetic bitcoin

Synthetix, a decentralized synthetic asset platform, today has released a synthetic bitcoin on the Ethereum blockchain. This release allows Ethereum users to gain non-custodial exposure to Bitcoin, which means they don’t need to trust...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Bluzelle Launches Layer One Chain to Drive Gaming Adoption for Cosmos

Bluzelle Launches Layer One Chain to Drive Gaming Adoption for Cosmos

02/06/2023
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy