About SNX
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Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was <a href="https://blog.havven.io/havven-is-transforming-into-synthetix-2fdf727b8892">rebranded</a> from Havven on November 30, 2018.
Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.”
This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.
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Laser Scorebeta Last Audit: 20 June 2022
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Pragma version^0.6.0 (#5) allows old versions
Pragma version^0.6.2 (#91) allows old versions
Pragma version^0.6.0 (#235) allows old versions
Pragma version^0.6.0 (#317) allows old versions
Pragma version^0.6.0 (#470) allows old versions
solc-0.6.4 is not recommended for deployment
Deploy with any of the following Solidity versions: 0.5.16 - 0.5.17, 0.6.11 - 0.6.12, 0.7.5 - 0.7.6 Use a simple pragma version that allows any of these versions. Consider using the latest version of Solidity for testing.
Additional information: link
Modifier TransparentUpgradeableProxy.ifAdmin() (#366-372) does not always execute _; or revert
All the paths in a modifier must execute _ or revert.
Additional information: link
Low level call in Address.sendValue(address,uint256) (#141-147):
- (success) = recipient.call{value: amount}() (#145)
Low level call in Address._functionCallWithValue(address,bytes,uint256,string) (#207-228):
- (success,returndata) = target.call{value: weiValue}(data) (#211)
Low level call in UpgradeableProxy.constructor(address,bytes) (#255-263):
- (success) = _logic.delegatecall(_data) (#260)
Low level call in TransparentUpgradeableProxy.upgradeToAndCall(address,bytes) (#429-434):
- (success) = newImplementation.delegatecall(data) (#432)
Avoid low-level calls. Check the call success. If the call is meant for a contract, check for code existence
Additional information: link
Address._functionCallWithValue(address,bytes,uint256,string) (#207-228) is never used and should be removed
Address.functionCall(address,bytes) (#167-169) is never used and should be removed
Address.functionCall(address,bytes,string) (#177-179) is never used and should be removed
Address.functionCallWithValue(address,bytes,uint256) (#192-194) is never used and should be removed
Address.functionCallWithValue(address,bytes,uint256,string) (#202-205) is never used and should be removed
Address.sendValue(address,uint256) (#141-147) is never used and should be removed
Proxy._implementation() (#49) is never used and should be removed
Remove unused functions.
Additional information: link
TransparentUpgradeableProxy.constructor(address,address,bytes)._admin (#346) shadows:
- TransparentUpgradeableProxy._admin() (#439-445) (function)
BEP20UpgradeableProxy.constructor(address,address,bytes).admin (#475) shadows:
- TransparentUpgradeableProxy.admin() (#383-385) (function)
Rename the local variables that shadow another component.
Additional information: link
TransparentUpgradeableProxy.upgradeToAndCall(address,bytes).newImplementation (#429) lacks a zero-check on :
- (success) = newImplementation.delegatecall(data) (#432)
UpgradeableProxy.constructor(address,bytes)._logic (#255) lacks a zero-check on :
- (success) = _logic.delegatecall(_data) (#260)
Check that the address is not zero.
Additional information: link
Proxy._delegate(address) (#23-43) uses assembly
- INLINE ASM (#25-42)
Address.isContract(address) (#114-123) uses assembly
- INLINE ASM (#121)
Address._functionCallWithValue(address,bytes,uint256,string) (#207-228) uses assembly
- INLINE ASM (#220-223)
UpgradeableProxy._implementation() (#280-286) uses assembly
- INLINE ASM (#283-285)
UpgradeableProxy._setImplementation(address) (#301-310) uses assembly
- INLINE ASM (#307-309)
TransparentUpgradeableProxy._admin() (#439-445) uses assembly
- INLINE ASM (#442-444)
TransparentUpgradeableProxy._setAdmin(address) (#450-457) uses assembly
- INLINE ASM (#454-456)
Do not use evm assembly.
Additional information: link
Different versions of Solidity is used:
- Version used: ['^0.6.0', '^0.6.2']
- ^0.6.0 (#5)
- ^0.6.2 (#91)
- ^0.6.0 (#235)
- ^0.6.0 (#317)
- ^0.6.0 (#470)
Use one Solidity version.
Additional information: link
Unable to find audit link on the website
Unable to find whitepaper link on the website
Token is not listed at Mobula.Finance
Additional information: link
Young tokens have high risks of scam / price dump / death
Price for SNX
LASER DESK beta
Unable to find Youtube account