Synthetix, a protocol that helps other DeFi projects get their hands on some liquid assets, is the busiest bee in the DeFi hive right now.
Lots of Code, Lots of Hope
According to crypto data experts Santiment, Synthetix has been churning out code like crazy over the past month. They’ve had more than 260 notable GitHub events, which is a fancy way of saying they’ve been busy building and improving their platform.
That’s more than dYdX, a popular decentralized exchange, and Lido DAO, a service that lets you stake your Ethereum in a liquid way.
What Does This Mean?
Santiment believes that a lot of development activity means that developers are really confident in their project. It also suggests that the project is less likely to be a scam.
So, if you’re looking for a DeFi project that’s got a lot of momentum and a team that’s working hard, Synthetix might be worth checking out.
Just a heads up: The price of SNX, Synthetix’s token, is down a bit today. But that doesn’t mean it’s a bad investment. Always do your own research before investing in crypto.
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