summary: sUSD (Synthetic USD) is a c created by the decentralized synthetic asset issuance protocol built, Synthetix.
content: sUSD (Synthetic USD) is a c created by the decentralized synthetic asset issuance protocol built, Synthetix. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). sUSD is pegged to the United States dollar and is tracked through price feeds supplied by Chainlink's decentralized network of oracles. Synthetix Overview Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by decentralized exchanges. Synthetix currently supports synthetic fiat money, cryptocurrencies (long and short), and commodities. SNX holders are incentivized to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix. Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX. How Synths Work Synths are synthetic assets that track the price of the underlying asset. They allow holders to gain exposure on Ethereum to various asset classes without holding the underlying assets themselves or trusting a custodian. Synths are backed by the Synthetix Network Token (SNX), which is staked as collateral at a ratio of 750%. sUSD Token sUSD is a synth that is pegged to the United States dollar through price feeds supplied by Chainlink. The supply is dynamic but as of December 6th, 2020 there were 22,510,653 in existence. Synthetix's native token, SNX, is locked up to create sUSD (which stands for "synthetic USD"). The sUSD acts as debt while SNX acts as collateral. Partners Synthetix has partnerships with the following organizations: Framework Ventures, ParaFi Capital, Three Arrows Capital, XBTO, DTC Capital, Hashed, IOSG Ventures, Spartan Ventures, and more.