How to Buy sDEFI on Synthetix Exchange

Update to sDEFI as of July 30th: The new composition of weighted tokens tracking in the sDEFI index is now available! To see the weighted tokens like COMP, UMA, BAL, and LEND, go here: https://twitter.com/synthetix_io/status/1288730958246510592

This is an introduction to how the Synthetix DEX (https://synthetix.exchange/#/trade/sDEFI-sUSD) works and specifically how I bought this index tracking a basket of DeFi related tokens.

Synthetix is one of the most popular projects in DeFi. The underlying utility behind Synthetix is to provide on-chain exposure to any asset, which means a protocol for trading synthetic assets on Ethereum. Imagine gaining exposure to any cryptocurrency (including those not powered by Ethereum) as well as Forex 为衍生品提供流动性的Synthetix 为衍生品提供流动性的Synthetix like JPY and GBP, commodities like silver and gold, indices like the Nikkei 225, and new, creative 为衍生品提供流动性的Synthetix synthetic assets like an index of DeFi related tokens or centralized exchange tokens.

Trading on Synthetix is like any DEX on Ethereum: it only requires an Ethereum wallet like MetaMask, no KYC, no minimum, and no geo restriction. sUSD is the decentralized overcollateralized stablecoin behind Synthetix. The rest of the synths (synthetic assets) powered by Synthetix are ERC20 tokens that trade against price oracles powered by Chainlink.

Here’s everything I cover in the video:
⚔️ What is Synthetix and what makes it so special as a DEX on Ethereum
⚔️ What synthetic assets trade on Synthetix Exchange
⚔️ What is the sDEFI index token
⚔️ Getting started with Synthetix Exchange and buying sUSD to start trading
⚔️ How to buy sDEFI using my sUSD on Synthetix Exchange
⚔️ Tracking my synths
⚔️ How to exit my sDEFI position
⚔️ Recap of risks and how to buy smart contract protection using Nexus Mutual

Helpful Resources:
🛠️ To learn more about the sDEFI index token, go to: https://synthetix.exchange/#/synths/sDEFI
🛠️ To try Synthetix Exchange, go to: https://synthetix.exchange/#/trade/sDEFI-sUSD
🛠️ To buy/sell sUSD in one of the most liquid 为衍生品提供流动性的Synthetix stablecoin pools, go to: https://www.curve.fi/susdv2/
🛠️ To buy smart contract protection for the value of your assets deposited into Synthetix, go here and use the contract address synthetix.nexusmutual.eth: https://app.nexusmutual.io/#/SmartContractCover
🛠️ To learn more about the Synthetix protocol: go to: https://www.synthetix.io/
🛠️ To track live stats on the synths trading on Synthetix, go to: https://dashboard.synthetix.io/
🛠️ To join the Synthetix community in Discord, go to: https://discord.gg/AEdUHzt
🛠️ On July 30th, anyone still holding sDEFI or iDEFI will be converted to the new index compositions according to this tweet from Synthetix: https://twitter.com/synthetix_io/status/1281070978198499330?s=20

📺 For more DeFi tutorials like this, please subscribe to DeFi Tutorials with DeFi Dad on Youtube and follow @DeFi_Dad on Twitter at https://twitter.com/DeFi_Dad

Disclaimer & Risks: Synthetix did not pay me to produce this video. This is not financial advice and you should approach all DeFi applications, wallets, protocols, and tools with caution. Please be aware there is always risk in using DeFi, including technical risks (ie smart contracts hacks), financial risks (ie liquidity crises), and potentially admin risk (admin key compromise, governance vulnerabilities). Also there is risk whenever using leverage (if it’s ever used), and there’s risk of the dollar-peg failing in any stablecoin, such as sUSD.

To learn more about DeFi, subscribe to my favorite DeFi newsletters where I write guest posts and publish exclusive DeFi videos and tutorials:

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This guy is constantly spamming his t-shirts. They're not unique 为衍生品提供流动性的Synthetix to Synthetix, he uses the same dumb design for every single cryptocurrency. Don't buy anything from them. Instead, please spam them back. Here's their email address and phone number. Get fucked u/RoyPowell4566


对反向资产而言,会有冻结价格。例如,在 Synthetix 文档中提到了一个例子,入门价格为 9659 美元 (创作时的大致市场价格),当其上限为 为衍生品提供流动性的Synthetix 14488.5 美元 (即反向比特币 iBTC 的价值达到 4829.5 美元) 或下限为 4829.5 美元 (即反向比特币 iBTC 的价值达到 14488.5 美元) 时,该 Synth 冻结。冻结之后, 不再能够在 Synthetix 上购买。在冻结之后的某个时刻,可以被具有其他上下限定值的 iBTC 所替代,从而恢复交易。

目前,只有加密货币类的合成资产,存在反向合成资产,如 iBTC, iETH 等。


  • 加密货币合成资产。这也是目前 Synthetix 交易所上交易种类最多的一类;
  • 法币合成资产,如 sUSD、sJPY、sEUR 等;
  • 股权合成资产,如 sNIKKEI 和 sFTSE;
  • 商品类合成资产,如 sXAU、 sXAG 分别表示锚定黄金和白银的合成资产。


Synthetix 提供了友好的交易界面,包括 K 线图、交易历史记录、成交数据等,一应俱全。和使用常规的 DEX 一样,使用钱包登录即可使用。不过根据 Synthetix 文档所述,Synthetix 交易所有几个特点与众不同:

  • 首先,合成资产交易无需对手方。当一个交易者用 sUSD 去兑换 sBTC 时,sBTC 本质上是凭空产生的。并没有人卖出。在交易达成之后,会销毁掉 sUSD,创建 sBTC 给交易者 , sBTC 的总量也会增加。
  • 其次,Synthetix 交易所提供了理论上无限的流动性,不存在交易滑点。不过,在实际交易中,交易规模会受到 sUSD 总量的限制,而 sUSD 的规模,又是由 SNX 的市值所决定的。


  • 抵押 ETH,借出 sETH 的借贷 (loan) 功能
  • 期权交易



借助于 Synthetix 进行二元期权交易,会是一个有意思的操作,只是限于篇幅,本文就不多展开了。

Synthetix 为 DeFi 世界带来了合成资产的新玩法,并提供了铸造、交易、头寸管理的完整产品。最容易引起用户误解的是 Synthetix 的债务计算方式,一不留神,就容易中招。关键是将 Synthetix 的抵押品作为零和博弈市场来看待,理解动态债务计算跟静态债务计算两种不同的方式,会帮你避开一些坑。

在诸多分析报告中,对于 Synthetix 的潜在风险也有所提及,例如 Crypto.com 今年上半年的一份报告中,对比了 Synthetix 的优劣势。


不过 为衍生品提供流动性的Synthetix Synthetix 和许多 DeFi 项目一样,仍然需要应对预言机失效、智能合约故障、黑客攻击等风险。同时,使用自身平台代币 SNX 作为抵押品、设置了高抵押率、复杂的项目设计尤其是债务计算的设计方式,以及缺少清算机制,也会为 Synthetix 带来影响。

无论参与 Synthetix 还是其他的 DeFi 项目,仍然要明白风险存在的必然性,做好必要的风险防范再去参与。如果你需要系统的学习,或许最近区块链研习社开设的 DeFi 训练营,能够让你少走许多弯路。

Integration with a website

does synthetix allow for use of their ecosystem, token and exchange to be used by a third party website (reg java/html) and allow the website to sell/trade its own assets? I am very very, new to synth so dont judge me thx for any help