Kain Warwick: Synthetix – Bringing the World’s Assets Into DeFi


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Like previous crypto winters, those actually building the ecosystem have been working diligently to create applications with industry-changing potential. The year 2020 may prove to be the year of Decentralized Finance (DeFi), with many exciting projects re-creating financial products common to the world of traditional finance, in the open and permissionless blockchain space.

Synthetic assets enable exposure to the price action of an asset without actually holding the underlying asset. Kain Warick is the Founder of Synthetix, a company creating synthetic assets for DeFi, enabling exposure to fiat currencies, commodities (gold and silver), and cryptocurrencies. They have large aspirations to create synthetic assets for many more things, including traditional equities.

Synthetic equities in DeFi is a massive opportunity that demands everyone's attention. Once traditional equities become accessible in DeFi, anyone in the world with internet access will be able to gain exposure to financial products currently only available to the privileged few with access to markets like the Nasdaq or NYSE.

Topics covered in this episode:

  • Kain’s eclectic background and his path to crypto
  • Why the world needs synthetic assets
  • Retrospection on the Synthetix crowdsale
  • How Synthetix works
  • The SNX token and its governance
  • Price stability and the collateralization ratio
  • The price oracle, and a battle with front-running bots
  • The long-term vision of Synthetix
  • How Kain believes DEXs will compete with centralized exchanges in the future

Episode links:


  • Nervos: If you’re a developer or project seeking funding for an innovative idea, check out the Nervos Grants Program today - https://www.nervos.org/grants
  • Pepo: Meet the people shaping the crypto movement - https://pepo.com/epicenter
  • Status: A multi-purpose communication tool that combines a peer-to-peer messenger, secure crypto wallet, and web3 browser - https://status.im/

This episode is hosted by Brian Fabian Crain & Friederike Ernst. Show notes and listening options: epicenter.tv/325

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