Synthetix

Halal Rating :
Questionable
Last Price $2.96 Last updated:
Rank 85
1D Change -6.38 %
Market Cap $971.51m
Circulating supply 327,769,196
Maximum supply None

Crypto Overview

Categories
  • Services
  • Decentralized Exchange (DEX) Token
  • DeFi
  • Derivatives
  • DAO
  • Yield Farming
  • Coinbase Ventures Portfolio
  • Three Arrows Capital Portfolio
  • Governance
  • Synthetics
  • DeFiance Capital Portfolio
  • Framework Ventures Portfolio
  • Alameda Research Portfolio
  • ParaFi Capital
  • Paradigm Portfolio
  • Fantom Ecosystem
  • Spartan Group
  • BNB Chain
  • Optimism Ecosystem
  • Real World Assets

Synthetix is a decentralized asset insurance protocol, and it allows users to mint, hold, and trade a wide range of derivatives – including commodities, fiat currencies, and even stocks. They can also do this for certain cryptocurrencies as well, the most popular being BTC.

Crypto Impact

To assign a comfort level investing in Synthetix from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Synthetix.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Justification for our Halal Rating