# Synthetix

> Track Synthetix's fees, revenue, active users and earnings with daily on-chain data across 4 chains. Compare Synthetix with other derivative exchanges.

Source: [Synthetix on Token Terminal](https://tokenterminal.com/explorer/projects/synthetix). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Token: SNX
- Sectors: Derivative exchanges
- Chains: arbitrum, base, ethereum, optimism
- Archived: Token Terminal has discontinued tracking for this project. Data is no longer updated; historical values remain available and accurate.

## About

### What it is

Synthetix is a non-custodial derivatives exchange protocol built on Ethereum. Synthetix was founded by Kain Warwick and launched in 2017.

### Who uses it

SNX tokenholders own and govern the protocol. They currently take all of the total trading fees paid by traders (revenue). Synthetix's investors include Paradigm, Framework Ventures, Coinbase Ventures, etc.

### How it works

Overcollateralized borrowers deposit funds into Synthetix and mint synthetic assets.

## Metrics

Token Terminal tracks these metrics for Synthetix daily. Each page has a chart with the full history.

- [Price](https://tokenterminal.com/explorer/projects/synthetix/metrics/price)
- [Fully diluted market cap](https://tokenterminal.com/explorer/projects/synthetix/metrics/market-cap-fully-diluted)
- [Circulating market cap](https://tokenterminal.com/explorer/projects/synthetix/metrics/market-cap-circulating)
- [Token trading volume](https://tokenterminal.com/explorer/projects/synthetix/metrics/token-trading-volume)
- [Token turnover (fully diluted)](https://tokenterminal.com/explorer/projects/synthetix/metrics/token-turnover-fully-diluted)
- [Token turnover (circulating)](https://tokenterminal.com/explorer/projects/synthetix/metrics/token-turnover-circulating)
- [Token holders](https://tokenterminal.com/explorer/projects/synthetix/metrics/tokenholders)
- [Circulating supply](https://tokenterminal.com/explorer/projects/synthetix/metrics/token-supply-circulating)
- [Notional trading volume](https://tokenterminal.com/explorer/projects/synthetix/metrics/notional-trading-volume)
- [Outstanding supply](https://tokenterminal.com/explorer/projects/synthetix/metrics/outstanding-supply)
- [Fees](https://tokenterminal.com/explorer/projects/synthetix/metrics/fees)
- [Supply-side fees](https://tokenterminal.com/explorer/projects/synthetix/metrics/fees-supply-side)
- [Revenue](https://tokenterminal.com/explorer/projects/synthetix/metrics/revenue)
- [Expenses](https://tokenterminal.com/explorer/projects/synthetix/metrics/expenses)
- [Token incentives](https://tokenterminal.com/explorer/projects/synthetix/metrics/token-incentives)
- [Earnings](https://tokenterminal.com/explorer/projects/synthetix/metrics/earnings)
- [P/F ratio (fully diluted)](https://tokenterminal.com/explorer/projects/synthetix/metrics/pf-fully-diluted)
- [P/F ratio (circulating)](https://tokenterminal.com/explorer/projects/synthetix/metrics/pf-circulating)
- [P/S ratio (fully diluted)](https://tokenterminal.com/explorer/projects/synthetix/metrics/ps-fully-diluted)
- [P/S ratio (circulating)](https://tokenterminal.com/explorer/projects/synthetix/metrics/ps-circulating)
- [Treasury](https://tokenterminal.com/explorer/projects/synthetix/metrics/treasury)
- [Treasury (net)](https://tokenterminal.com/explorer/projects/synthetix/metrics/treasury-net)
- [Active users (daily)](https://tokenterminal.com/explorer/projects/synthetix/metrics/user-dau)
- [Active users (weekly)](https://tokenterminal.com/explorer/projects/synthetix/metrics/user-wau)
- [Active users (monthly)](https://tokenterminal.com/explorer/projects/synthetix/metrics/user-mau)
- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/synthetix/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/synthetix/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/synthetix/metrics/active-addresses-monthly)
- [Core developers](https://tokenterminal.com/explorer/projects/synthetix/metrics/active-developers)
- [Code commits](https://tokenterminal.com/explorer/projects/synthetix/metrics/code-commits)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/synthetix/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/synthetix/metrics/gas-used)
- [Average fees per user (AFPU)](https://tokenterminal.com/explorer/projects/synthetix/metrics/afpu)
- [Average revenue per user (ARPU)](https://tokenterminal.com/explorer/projects/synthetix/metrics/arpu)
- [Take rate](https://tokenterminal.com/explorer/projects/synthetix/metrics/take-rate)

## Links

- [governance](https://governance.synthetix.io/)
- [github](https://github.com/synthetixio)
- [twitter](https://twitter.com/synthetix_io)
- [discord](https://discord.com/invite/Synthetix)
- [etherscan](https://etherscan.io/token/0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f)
- [website](https://synthetix.io/)