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What is Synthetix?

Synthetix is a decentralized protocol for creating synthetic assets that operates on the Ethereum blockchain. These synthetic assets, referred to as Synths, are supported by the Synthetix Network Token (SNX), which enables their creation when locked in the smart contract. The system’s pooled collateral model allows users to trade Synths directly via the smart contract, removing the need for intermediaries. This forward-thinking strategy effectively tackles typical issues like liquidity and slippage that many decentralized exchanges encounter. At present, Synthetix offers synthetic versions of various fiat currencies, cryptocurrencies (both long and short), and a range of commodities. SNX holders are incentivized to stake their tokens as they receive a share of the transaction fees generated on Synthetix.Exchange, which reflects their investment in the network's ecosystem. This ability to participate in the network and earn revenue from Synth transactions enhances the inherent value of the SNX token. Importantly, traders are not required to own SNX to trade on Synthetix.Exchange, which increases accessibility for a wider range of participants. This inclusive model encourages more individuals to participate in trading activities without needing to make an initial investment in the SNX token. Consequently, Synthetix fosters a more diverse trading environment, ultimately benefiting the entire ecosystem.

What is Apricot?

Apricot Lend provides conventional lending and borrowing services that allow users to secure their assets for interest earnings while using those deposits as collateral to acquire loans in different assets. Additionally, Apricot X-Farm introduces a leveraged yield farming mechanism that facilitates cross-margin trading, enabling users to maximize their returns on existing investments. For example, when engaging in liquidity pool farming with USDT-USDC, most other leveraged farming platforms necessitate that users already hold a specific quantity of both stablecoins to participate. If users do not have these stablecoins available, they are required to convert other tokens into USDT and USDC before they can engage in farming activities. In contrast, Apricot X-Farm eliminates this barrier, allowing users to initiate farming without needing any USDT or USDC upfront. Instead, they can leverage their non-stablecoin assets as collateral to borrow the stablecoins with a leverage ratio of up to 3x, empowering them to start USDT-USDC LP farming right away. Once the stablecoins are borrowed, they are automatically staked and pooled to yield LP tokens, resulting in an impressive 3x return from the farming process. This innovative approach not only simplifies the process but also significantly enhances users' ability to optimize their investment strategies and achieve greater financial growth.

Media

Media

Integrations Supported

1inch Wallet
Armor.Fi
Birdeye.so
CoinLedger
Crypto APIs
Enzyme
Ledger
Ledger Nano X
MathWallet
PieDAO
Slope
Solflare
Token Terminal
Tradesilvania
Ubeswap
YouHodler
vfat.tools

Integrations Supported

1inch Wallet
Armor.Fi
Birdeye.so
CoinLedger
Crypto APIs
Enzyme
Ledger
Ledger Nano X
MathWallet
PieDAO
Slope
Solflare
Token Terminal
Tradesilvania
Ubeswap
YouHodler
vfat.tools

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Synthetix

Date Founded

2017

Company Location

Australia

Company Website

synthetix.io

Company Facts

Organization Name

Apricot

Company Website

apricot.one/

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