Synthetix: Re-evaluating an OG DeFi Protocol

Synthetix recently added multiple improvements to its platform enabling integration with 1inch in June 2022. Since that time daily revenues have gone up roughly 700%. Further improvements are coming to Synthetix in the next few months that will lower fees, increase the number of markets offered, add further DEX integrations, improve user experience and potentially drive increased volumes. Despite a recent price run up, our analysis finds the SNX distinctly undervalued relative to peers for the current level of revenue and future growth trajectory of the protocol.

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