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 tokens track an index of centralized exchange tokens.

The long version is called sCEX and the short version is called iCEX. These Synths are designed to give users exposure to a basket of exchange tokens, which have gained popularity in the last 12 months. sCEX tracks the value of a basket of exchange tokens roughly approximating their weighted market cap, iCEX is an inverse index of this basket.

Index Synths showcase the flexibility of the Synthetix system, with its ability to create different kinds of synthetic assets. The distributed collateral pool design enables unique assets which are unavailable anywhere else on Ethereum.

The following table outlines the details of the basket of exchange tokens:

Like the platform’s other Inverse Synths, iCEX will have an entry price, an upper limit, and a lower limit. These limits cap profit and loss, whenever these limits are reached the token’s value is frozen and won’t change until it is re-deployed.

These are the first Index Synths to be launched on Synthetix, but the team plans to launch other indexes in the future. The utility of these Synths demonstrates the potential of the Synthetix platform.

Tokens are available to be traded on the Synthetix.Exchange.

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