DeFi — Derivatives: Synthetix

Source: https://www.altcoinbuzz.io/wp-content/uploads/2020/11/Synthetix-Exchange-logo.jpg

Synthetix is a company whose primary focus is creating a wide variety of liquid synthetic derivatives.

A synthetic derivative in the DeFi space is the creation of a derivative cryptoasset, whose value is based on an underlying asset that is neither owned nor escrowed. This is possible thanks to algorithmically generated smart contracts, which are not available in traditional finance.