Ask about Synthetix · freeTotal Value Locked$870,934
TVL by Chain
Ethereum$870,934
Arbitrum$0
Base$0
Key Metrics
Fees 30d$3,906
Fees 30d by chain
Ethereum$3,906
OP Mainnet$0
Fees 7d$622
Ethereum$622
OP Mainnet$0
Fees 24h$204
Ethereum$204
OP Mainnet$0
Cumulative Fees$83.88m
OP Mainnet$54.22m
Ethereum$27.14m
Base$2.42m
Arbitrum$95,937
Revenue 30d$3,906
Revenue 30d by chain
Ethereum$3,906
OP Mainnet$0
Revenue 7d$622
Ethereum$622
OP Mainnet$0
Revenue 24h$204
Ethereum$204
OP Mainnet$0
Cumulative Revenue$82.09m
OP Mainnet$54.22m
Ethereum$27.14m
Base$716,791
Arbitrum$6,981
Holders Revenue 30d$0
Holders Revenue 30d by chain
Ethereum$0
OP Mainnet$0
Holders Revenue 7d$0
Ethereum$0
OP Mainnet$0
Holders Revenue 24h$0
Ethereum$0
OP Mainnet$0
Cumulative Holders Revenue$82.06m
OP Mainnet$54.22m
Ethereum$27.12m
Base$716,791
Arbitrum$6,981
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$31,384
Earnings 30d$3,906
Earnings 7d$622
Earnings 24h$204
Cumulative Earnings$82.09m
Perp Volume 30d$66.7m
Perp Volume 30d by chain
Ethereum$66.7m
OP Mainnet$0
Perp Volume 7d$15.68m
Ethereum$15.68m
OP Mainnet$0
Perp Volume 24h$2.78m
Ethereum$2.78m
OP Mainnet$0
Cumulative Perp Volume$63.745b
OP Mainnet$55.775b
Base$6.746b
Ethereum$1.008b
Arbitrum$216.13m
Open Interest$349,391
Market Cap$91.21m
$SNX Price$0.16
Fully Diluted Valuation$91.27m
Outstanding FDV$91.34m
$SNX Volume 24h$3.48m
CEX Volume$2.58m
DEX Volume$1.26m(36.11% of total)
Treasury$5.83m
Majors$26,674
Stablecoins$472,415
Own Tokens$5.33m
Others$153.07
Total Raised$46.05m
Sep 29, 2017$250,000Round: SeedInvestors: George Burke
Mar 1, 2018$30mRound: ICOInvestors: Buck Stash, George Burke, Infinite Capital
Oct 29, 2019$3.8mRound: Investors: Framework Ventures
Dec 15, 2020$12mRound: Investors: Coinbase Ventures, Paradigm, IOSG Ventures
Protocol Information
Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi.
- Synthetix V4Derivatives
- Synthetix V3Derivatives
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Hacks
Date: Jun 25, 2019
Protocol: Synthetix v1+v2
Classification: Oracle Manipulation
Technique: Oracle Misconfiguration
An oracle price feed reported Korean Won at 1000x higher than actual rate due to API outage reducing redundancy. A trading bot exploited the misconfiguration to generate over 37M sETH in profits within an hour. All funds were recovered through white-hat negotiation and bug bounty.
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Competitors
Synthetix history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Aug 9, 2019 to Nov 9, 2026.
All-time high TVL: $2.967b on Feb 10, 2021. All-time low TVL: $820,749 on Oct 30, 2026.
Daily TVL, Oct 11, 2026 to Nov 9, 2026
| Date | TVL |
|---|---|
| Oct 11, 2026 | $898,573 |
| Oct 12, 2026 | $900,234 |
| Oct 13, 2026 | $884,485 |
| Oct 14, 2026 | $887,090 |
| Oct 15, 2026 | $883,472 |
| Oct 16, 2026 | $888,356 |
| Oct 17, 2026 | $887,717 |
| Oct 18, 2026 | $887,349 |
| Oct 19, 2026 | $887,804 |
| Oct 20, 2026 | $887,507 |
| Oct 21, 2026 | $889,086 |
| Oct 22, 2026 | $930,066 |
| Oct 23, 2026 | $926,918 |
| Oct 24, 2026 | $922,182 |
| Oct 25, 2026 | $921,168 |
| Oct 26, 2026 | $914,538 |
| Oct 27, 2026 | $921,771 |
| Oct 28, 2026 | $825,044 |
| Oct 29, 2026 | $825,582 |
| Oct 30, 2026 | $820,749 |
| Oct 31, 2026 | $871,329 |
| Nov 1, 2026 | $871,781 |
| Nov 2, 2026 | $872,450 |
| Nov 3, 2026 | $871,110 |
| Nov 4, 2026 | $871,925 |
| Nov 5, 2026 | $877,527 |
| Nov 6, 2026 | $873,809 |
| Nov 7, 2026 | $873,749 |
| Nov 8, 2026 | $873,534 |
| Nov 9, 2026 | $871,887 |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $381.33m |
| Jan 31, 2025 | $304.16m |
| Feb 28, 2025 | $180.38m |
| Mar 31, 2025 | $93.93m |
| Apr 30, 2025 | $86.53m |
| May 31, 2025 | $88.43m |
| Jun 30, 2025 | $82.95m |
| Jul 31, 2025 | $78.28m |
| Aug 31, 2025 | $90.66m |
| Sep 30, 2025 | $142.25m |
| Oct 31, 2025 | $127.27m |
| Nov 30, 2025 | $69.93m |
| Dec 31, 2025 | $53.12m |
| Jan 31, 2026 | $55.42m |
| Feb 28, 2026 | $45.96m |
| Mar 31, 2026 | $36.49m |
| Apr 30, 2026 | $41.18m |
| May 31, 2026 | $39.31m |
| Jun 30, 2026 | $1.3m |
| Jul 31, 2026 | $885,035 |
| Aug 31, 2026 | $944,933 |
| Sep 30, 2026 | $845,542 |
| Oct 31, 2026 | $871,329 |
| Nov 9, 2026 (latest) | $871,887 |
TVL at each year end, Dec 31, 2019 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2019 | $178.44m |
| Dec 31, 2020 | $1.245b |
| Dec 31, 2021 | $1.333b |
| Dec 31, 2022 | $248.09m |
| Dec 31, 2023 | $768.63m |
| Dec 31, 2024 | $381.33m |
| Dec 31, 2025 | $53.12m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $1.48m | $1.36m | $1.36m |
| Jan 2025 | $663,200 | $506,227 | $506,227 |
| Feb 2025 | $649,683 | $449,272 | $449,272 |
| Mar 2025 | $359,976 | $270,150 | $270,150 |
| Apr 2025 | $231,639 | $165,995 | $165,995 |
| May 2025 | $134,447 | $60,491 | $60,491 |
| Jun 2025 | $139,126 | $62,169 | $62,169 |
| Jul 2025 | $82,668 | $82,063 | $82,063 |
| Aug 2025 | $307,110 | $307,106 | $307,106 |
| Sep 2025 | $1,664 | $1,664 | $1,664 |
| Oct 2025 | $1,960 | $1,960 | $1,960 |
| Nov 2025 | $808 | $808 | $808 |
| Dec 2025 | $272 | $272 | $272 |
| Jan 2026 | $6,730 | $6,730 | $6,730 |
| Feb 2026 | $20 | $20 | $20 |
| Mar 2026 | $0 | $0 | $0 |
| Apr 2026 | $0 | $0 | $0 |
| May 2026 | $5,922 | $5,922 | $0 |
| Jun 2026 | $0 | $0 | $0 |
| Jul 2026 | $0 | $0 | $0 |
| Aug 2026 | $1,739 | $1,739 | $0 |
| Sep 2026 | $10,761 | $10,761 | $0 |
| Oct 2026 | $4,763 | $4,763 | $0 |
| Nov 2026 (to date) | $680 | $680 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/synthetix
Frequently asked questions
What is Synthetix's TVL?
As of Nov 9, 2026, Synthetix has $870,934 in total value locked. TVL has decreased 3.1% over the past 30 days.
What chains does Synthetix operate on?
Synthetix operates on 5 chains: Ethereum, Optimism, OP Mainnet, Base, and Arbitrum. Ethereum holds the largest share at 100%.
How much has Synthetix generated in fees and revenue?
Over the past 30 days, Synthetix generated $3,906 in fees. Of that, $3,906 was protocol revenue. Based on the trailing year, the annualized rate is $31,384 in fees and $31,384 in revenue.
What is the SNX token price and valuation?
SNX is currently trading at $0.16. Its circulating market capitalization is $91.21m, ranking it #402. Its fully diluted valuation is $91.27m. Supply currently stands at 580.98m circulating, 581.4m total supply.
How has SNX performed recently?
SNX is down 14.2% over the past 7 days and down 37.6% over the past 30 days. Its all-time high is $28.53, reached on Feb 13, 2021. The token is currently 99.4% below that level.
How does Synthetix's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Synthetix ranks #52 by TVL. The category holds $1.817b across 421 protocols, and Synthetix accounts for <0.1% of that total. Similar protocols include Aevo Perps, Contango V2, Derive V2, Vest Markets, Lynx, Everstrike, Apex Omni, ApeX Pro, IPOR Derivatives, and Tristero Margin.
How much perpetual futures volume does Synthetix process?
Synthetix processed $66.7m in perpetual futures volume over the past 30 days.
Does Synthetix have a treasury?
Synthetix has a tracked treasury currently valued at $5.83m. Its holdings include $472,415 in stablecoins, $26,674 in major assets, $5.33m in its own tokens, $153.07 in other assets.
Has Synthetix ever been exploited?
Synthetix has 1 recorded security incident. The most recent incident occurred on Jun 25, 2019. It was classified as Oracle Manipulation.