An analysis of Synthetix’s binary options offering

Quick Take

  • DeFi derivatives platform Synthetix launched their binary options beta offering at the end of June, with increased interest in the platform coinciding with spikes in the volumes and prices of the SNX native token.
  • Synthetix responded to the problem of incentivized late bidding with a proposed update for stepped up withdrawal fees during progressively later sub-phases of the bidding phase.

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