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Synthetix has raised $4.3M across 2 funding rounds.
Key people at Synthetix.
Synthetix was founded in 2017 by Kain Warwick (Founder).
Synthetix has raised $4.3M in total across 2 funding rounds.
Synthetix is a decentralized finance (DeFi) protocol that enables the creation and trading of synthetic assets, called Synths. These digital assets track the value of diverse real-world and crypto assets, like fiat currencies or commodities, without requiring direct ownership. Operating on Ethereum, the protocol provides robust on-chain infrastructure for derivatives and deep liquidity.
Kain Warwick founded Synthetix, initially Havven, driven by an insight into the necessity of synthetic assets in a decentralized ecosystem. A cryptocurrency veteran since 2012, Warwick identified demand for broader asset exposure and financial instruments without intermediaries, establishing the protocol.
The protocol serves users and decentralized applications needing on-chain asset exposure and substantial liquidity for derivatives. It attracts advanced traders for risk management or leveraged positions. Synthetix's vision is to establish a fundamental layer for synthetic assets and derivatives in the decentralized economy, expanding market access.
Synthetix was founded in 2017 by Kain Warwick (Founder).
Synthetix has raised $4.3M in total across 2 funding rounds.
Synthetix's investors include Framework Ventures, David Namdar, Alexis Berthoud.
Synthetix has raised $4.3M across 2 funding rounds. Most recently, it raised $4.0M Series U in October 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2019 | $4M Series U | — | Framework Ventures | Announced |
| Sep 1, 2017 | $250K Seed | — | David Namdar, Alexis Berthoud | Announced |
Synthetix is a DAO-governed decentralized finance (DeFi) protocol, not a traditional technology company, specializing in synthetic assets and derivatives trading. It enables users to create and trade Synths—synthetic assets mirroring real-world assets like currencies, commodities, and cryptocurrencies—without direct ownership, providing liquidity, infrastructure, and perpetual futures products for traders and builders.[1][2][4] Serving DeFi traders, developers, and protocols on Ethereum and layer-2 networks like Base, Synthetix solves key problems in traditional finance such as high barriers to entry, limited asset access, and liquidity gaps by using collateralized SNX tokens for minting Synths and offering multicollateral margin trading with assets like ETH, wstETH, and USDT.[1][2][4] With $35.8M in total funding across three rounds, including a recent $20M raise, it shows strong growth momentum, highlighted by the V3 upgrade deploying the first major perpetuals protocol on Base mainnet.[1]
Synthetix emerged from the DeFi innovation wave on Ethereum, evolving from early synthetic asset experiments into a mature protocol. Founded around 2018 (with roots in Havven rebranded to Synthetix), it was pioneered by developers addressing centralized exchange limitations, though specific founders like Kain Warwick are noted in broader DeFi lore for driving its protocol design.[2] The idea crystallized as a way to democratize financial markets via smart contracts, gaining early traction through SNX token collateralization for Synth minting and expansions like Perps V2 for futures.[2][4] Pivotal moments include the V3 upgrade in recent years, enabling permissionless derivatives on layer-2s like Base, and total funding of $35.8M, cementing its shift to a liquidity powerhouse.[1][4]
Synthetix rides the DeFi derivatives boom, capitalizing on Ethereum's dominance as DeFi's settlement layer amid layer-2 scaling (e.g., Base integration). Timing aligns with surging demand for decentralized perps trading, as traditional finance barriers fade and crypto adoption grows, fueled by market forces like tokenized real-world assets (RWAs) and perpetuals TVL exceeding billions.[1][2][4] It influences the ecosystem by providing turnkey liquidity for protocols, enabling composability (e.g., yield-bearing collateral), and pioneering V3's permissionless model, which lowers entry for new markets and boosts Base/Coinbase network effects.[1][4]
Synthetix is poised for expansion with V3's multicollateral perps drawing more TVL and integrations, potentially dominating DeFi derivatives as RWAs and AI-driven trading trends accelerate. Upcoming trends like Ethereum's next upgrades and cross-chain liquidity will amplify its edge, evolving it from Synth pioneer to full-stack DeFi infrastructure leader—cementing its role as the best-in-class liquidity engine for traders and builders.[1][2][4]
Key people at Synthetix.
