Market
Problem that it solves
Synthetix is a decentralized finance platform built to allow for the development and trading of synthetic assets on a peer-to-peer basis.
Customers
Blockchain-savvy traders and investors who want to gain exposure to different asset classes in digital form.
Value creation
Synthetix creates value by tracking the value of real world assets through their digital equivalent. Moreover, it is decentralized and transparency as transaction take place on-chain.
Market structure
While DeFi a fairly new market in the world of blockchain, there is plenty of opportunity and value yet to be realized.
Market size
While the DeFi market is still small, there is an enormous amount of potential in the DeFi market.
Regulatory risks
The DeFi market could go under regulatory scrutiny as it is a threat to the existing financial system.
Average Market Score
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Competitive Advantage
Technology/blockchain platform
SNX is built on the Ethereum blockchain.
Lead time advantage
Synthetix is one of the first DeFi investment platforms and, therefore, has some lead time advantage.
Contacts and networks
The names on the Synthetix project may not be as prominent as other players in the industry, but they still have access to others within the market.
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Management Team
Entrepreneurial Team
The team has plenty of success including experience with MongoDB and JP Morgan.
Industry/technical experience
The project itself launched in 2017 as Havven. With three years under their belts, the core Synthetix team has the hours necessary to meet this requirement.
Integrity
To date the team has shown transparency and honest within the project.
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Token Mechanics
Token required
Synthetix tokens are used in the Synthetic ecosystem to trade and stake (to collect fees.) However, these roles could arguably also be filled by another token.
Value added
SNX is a fairly standard utility token that you find in comparable blockchain ventures.
Decentralized
Synthetix is designing its platform to be entirely decentralized.
Token supply
SNX is a deflationary token with tokens expected to be added until 2023.
Public exchange
While Synthetix is listed on a few more popular exchanges, some of the higher quality platforms do not have the token available for trading.
MVP
Synthetix is live and is already gaining a user base.
Average Token Mechanics Score
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User Adoption
Technical difficulty
Like blockchain, decentralized finance can be challenging to understand. The project will attract those interested in finance and how to manage digital assets through a single platform.
Halo Effect
Synthetix has formed several partnerships, but has yet to find ones that define the platform.
Buzz
The project has a decent following, but isn't quite as strong as other DeFi players in the market.
Average User Adoption Score
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Overall Score
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