sDEFI price is $13,006.45
The current price of sDEFI is $ 13,006.45. In the past 24 hours, the price has increased by +0.00%.
sDEFI is a synthetic asset provided by Synthetix, a decentralized finance (DeFi) platform. It tracks the performance of a specifically constructed DeFi Index (DEFI) through price feeds supplied by an oracle. This index represents a composition of various DeFi-related assets, each holding a certain weight within the index. By purchasing sDEFI, investors get exposure to the aggregated performance of assets like LINK (Chainlink), MKR (Maker), and others included in the DeFI index, without needing to own the individual assets.
sDEFI works by providing a synthetic representation of an index that tracks multiple DeFi assets. The price of sDEFI is adjusted in accordance with the price movements of the underlying components in the DEFI index. This is accomplished through the use of oracles — reliable, decentralized feeds that provide real-time price information to the Synthetix platform. As the individual asset prices fluctuate, the value of the sDEFI token changes accordingly.
The sDEFI index is composed of the following DeFi assets with their respective weights: - LINK (Chainlink): 92.583 - MKR (Maker): 0.432 - ZRX (0x): 502.718 - SNX (Synthetix): 107.686 - REN (Ren Protocol): 1222.393 - LRC (Loopring): 2164.709 - KNC (Kyber Network): 357.085 - BNT (Bancor): 119.197 - MLN (Melon Protocol): 6.495
These weights define each asset's relative percentage in the overall index, reflecting the diversified exposure that sDEFI aims to provide to investors.
The price of sDEFI is determined by the collective price movement of its component assets in the DEFI index. Synthetix's oracle feeds take into account the real-time price of these underlying assets and adjust the value of sDEFI accordingly. This ensures that the price of sDEFI is a reflection of the current market conditions of the DeFi sector it represents.
Trading sDEFI offers investors the advantage of gaining exposure to a wide spectrum of DeFi assets through a single token. This simplifies the investment process and diversifies risk, as one does not need to invest in each asset individually. Furthermore, sDEFI can be easily traded on the Synthetix platform and other exchanges, providing liquidity and accessibility.
sDEFI can be purchased on a variety of exchanges, with the specific platforms available listed under . These exchanges facilitate the trading of sDEFI, offering users the ability to buy and sell the token.
sDEFI is designed to provide a synthetic investment vehicle that encapsulates the broader performance of the DeFi market. It represents an innovation within the DeFi space, allowing users to engage with the market in a more aggregated and streamlined manner. It serves as a tool for both speculation and hedging, catering to varying investor strategies within the DeFi ecosystem.
Like any cryptocurrency or investment vehicle, sDEFI carries risks. The primary risk is market volatility; since sDEFI tracks a basket of DeFi assets, its price can be subject to significant fluctuations. Additionally, the reliance on oracles for price information, while generally reliable, may also introduce points of vulnerability or error. It is important for potential investors to conduct their own research and understand the risks involved in trading synthetic assets like sDEFI.
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