sUSD (SUSD)

What is sUSD (SUSD) Cryptocurrency? SUSD, or Synthetix Network Token (SNX), is an ERC-20 token on the Ethereum blockchain that launched in 2019. It is a decentralized synthetic asset protocol that enables users to create synthetic (on chain) assets, such as stablecoins, indices, commodities and more. It was created by the team at Synthetix, a financial derivatives platform. Who Founded sUSD Crypto Currency? sUSD (SUSD) was founded by the Synthetix team, a FinTech startup that provides cost-effective and easy-to-use investment products. The project is led by co-founders Kain Warwick, Michael Burgess, and Justin Moses. Synthetix was founded in 2017. What Makes sUSD Unique? SUSD (SUSD) is a synthetic asset protocol that enables users to create and trade synthetic assets on the Ethereum blockchain. The uniqueness of SUSD compared to other protocols is that it is designed to be an interoperable bridge to the evolving DeFi ecosystem. The sUSD protocol is isolated from market fluctuations and its associated collateralization risk. This means that users are guaranteed a consistent value when exchanging their SNX tokens, no matter the fluctuation of the underlying asset’s price. Where is sUSD Used? SUSD (SUSD) is used as a collateral asset on the Synthetix protocol. It can be exchanged for other digital assets such as ETH, BTC, DAI, USDC, etc. and used to mint synthetic assets like sUSD and sBTC. It is also used to pay trading fees on Synthetix Exchange and can be used as collateral for margin trading and liquidity mining. Where to Buy/Sell sUSD? SUSD can be bought and sold on popular cryptocurrency exchanges such as Binance, Coinbase, Kraken and Huobi. It can also be purchased directly from the Synthetix Exchange. Comments: SUSD (SUSD) is an interesting and unique cryptocurrency token in the realm of decentralized finance. It offers users an effective way to collateralize and trade on synthetic assets. It is an excellent option for those looking to expand their investment portfolio into the wild and rapidly Developing DeFi space.