Recently, $SNX has become popular again. The established DeFi project @synthetix_io managed to reach new highs after a wave of market crashes, which is indeed rare resilience. They are about to hold a global KOL trading competition with a total prize of 1 million USD, and the first place will directly take home the huge prize. It really is a time to showcase strength.

Synthetix has always been an OG project in the DeFi world, gaining fame early on with the concept of "on-chain synthetic assets," allowing users to gain exposure without actually holding the assets. Its core is to eliminate counterparty risk, using smart contracts for automatic matching, which is particularly stable during large market fluctuations. During this recent crash, many projects faced issues, but Synthetix's system is still running steadily.

Their Perps module in the derivatives direction is also quite representative, with low fees, small slippage, and the introduction of dynamic funding rates and oracle optimization. The next step is to deploy the Perp DEX back to the Ethereum mainnet while launching that million-dollar trading incentive. For old DeFi users, this activity is indeed worth paying attention to.

I believe the reason for $SNX's recent price stability is quite clear: the greater the market volatility, the more derivatives trading occurs; high collateral lock-up, low circulating supply; combined with the community's expectations for the V3 architecture, confidence is naturally strong, and it has already landed on Binance's spot and futures. @Synthetix_China is definitely worth a follow.

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