Rank #1369
586 people like this
sdefi  (SDEFI)

sDEFI (SDEFI)

$17,331.67 4.0%
0.36173740 BTC 3.6%
4.81069847 ETH -0.6%
586 people like this
$16,469.15
24H Range
$17,585.52
Market Cap $5,178,728
24 Hour Trading Vol $69,155
Circulating Supply 298
Total Supply 298
Max Supply ?
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SDEFI
USD
USD
sDEFI (SDEFI) Price Chart

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1h
24h
7d
14d
30d
1y
-1.4%
4.0%
3.0%
19.2%
377.2%

SDEFI Price and Market Stats

SDEFI Price $17,331.67
Market Cap $5,178,728
Market Cap Dominance 0.00%
Trading Volume $69,155
Volume / Market Cap 0.0134
24h Low / 24h High $16,469.15 / $17,585.52
7d Low / 7d High $14,323.56 / $17,585.52
Market Cap Rank #1370
All-Time High $22,305 -22.3%
May 08, 2021 (4 months)
All-Time Low $1,864.06 829.8%
Nov 03, 2020 (11 months)

sDEFI Coin Price & Market Data

sDEFI price today is $17,331.67 with a 24-hour trading volume of $69,155. SDEFI price is up 4.0% in the last 24 hours. It has a circulating supply of 300 SDEFI coins and a total supply of 299. If you are looking to buy or sell sDEFI, Kwenta is currently the most active exchange.

What is sDEFI?

sDEFI, or synthetic DEFI is a synthetic index launched by Synthetix Exchange. sDEFI uses Chainlink price oracles to track the prices of selected DeFI assets in constructing this synthetic index.

What does sDEFI consist of?

As an index, sDEFI aims to reflect the overall performance of the Decentralized Finance (DeFi) sector. Upon purchasing sDEFI, holders are able to gain exposure to prominent DeFi protocols. 

sDEFI consists of several selected DeFi tokens at varying weightage. As of the time of writing, sDEFI includes:

Users can refer to Synthetix’s litepaper to check out the latest basket of DeFi tokens in sDEFI. Community members can vote on the sDEFI index token and weightage composition.

What are synthetic assets?

Synthetic assets or Synths are derivatives that provide exposure to real-world assets on the Ethereum blockchain. Similar to derivatives in traditional financial markets, Synths allow users to hedge and reduce their risk, speculate on price movements and gain access to unavailable assets or markets. This is all accomplished without an individual ever holding the underlying asset.

How can I obtain sDEFI?

To obtain sDEFI, users have to first obtain Synthetic Network Tokens (SNX), which is Synthetix’s native token. Users can buy SNX from cryptocurrency exchanges such as Binance and Uniswap

With SNX, users can then stake SNX as collateral on Mintr to mint sUSD, a synthetic US dollar stablecoin. 

The amount of sUSD minted will depend on two factors; the amount of SNX staked and the collateralization ratio (C-Ratio) of the platform. Currently, the C-Ratio is 500%. This means that if the value of SNX or Synths fluctuate, the user’s C-Ratio will fluctuate as well. 

The minted sUSD can then be exchanged for sDEFI or other Synths on Synthetic Exchange.

Alternatively, users can also buy sUSD directly on Synthetix Exchange with ETH. The purchased sUSD minted can then be exchanged for sDEFI and other Synths on Synthetic Exchange

sDEFI News & Guides

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