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Kain Warwick, founder of Synthetix, talks about synthetic asset issuance platform, which enables people to create tokens that track the price of assets in traditional and crypto finance. We discuss the various types of assets available, why changing the monetary policy helped the ecosystem take off, why people would buy synthetic Bitcoin over Bitcoin itself, and why Uniswap has been pivotal to Synthetix's success. He covers the role the SNX token plays, why people minting synths must be over-collateralized by about 700%, and some of the changes coming down the pike, including futures, tweaks to the inflation rate, and a new oracle system. He also explains what happened when a trader made the system insolvent \u2014 and how they negotiated with the trader to keep it alive \u2014 how he thinks about decentralization and why the system's governance might one day be handled by a DAO.\n Thank you to our sponsors!\xa0\n GiveWell: http://givewell.org/unchained\n Kraken: https://kraken.com/\n CipherTrace: http://ciphertrace.com/unchained\n Crypto.com: http://crypto.com/\n Episode links:\xa0\n Synthetix: https://www.synthetix.io/\n Synthetix on Twitter: https://twitter.com/synthetix_io\n Kain Warwick: https://twitter.com/kaiynne\n Havven transforming into Synthetix: https://blog.havven.io/havven-is-transforming-into-synthetix-2fdf727b8892\n Synthetix overview: https://blog.havven.io/synthetix-overview-f4a5a6c41210\n How Synthetix works: https://www.synthetix.io/how-it-works/\n Synthetix lite paper: https://www.synthetix.io/uploads/synthetix_litepaper.pdf\n Changing monetary policy: https://blog.synthetix.io/synthetix-monetary-policy-changes/\n Oracle hack: https://www.coindesk.com/synthetix-trader-rolls-back-broken-trades-that-netted-1-billion-profit\n Synthetix response to oracle incident: https://blog.synthetix.io/response-to-oracle-incident/\n How staking works on Synthetix:\xa0 https://www.stakingrewards.com/asset/synthetix-network-token\n https://help.synthetix.io/hc/en-us/articles/360020245314-How-can-I-earn-Synth-exchange-rewards-\n Reddit complaint by trader who initially made the system insolvent: https://www.reddit.com/r/ethereum/comments/d4edxm/the_synthetix_dapp_deleted_my_balance/\n Efforts to resolve the front running problem: https://sips.synthetix.io/sips/sip-6\n Synthetix and Chainlink: https://blog.synthetix.io/synthetix-and-chainlink/\n Kain\u2019s tweets on the censorship vector stack: https://twitter.com/kaiynne/status/1197265019169169409?s=20\n https://twitter.com/kaiynne/status/1197265044204998656?s=20\n Unconfirmed episode on Uniswap: https://unchainedpodcast.com/how-uniswap-quickly-became-one-of-the-most-popular-dexes/\n Defiant interview: https://thedefiant.substack.com/p/theres-a-pipeline-of-etf-like-tokens\nLearn more about your ad choices. Visit megaphone.fm/adchoices