Synthetix Tokenizes FTSE, Nikkei and the Defi Index

Synthetix Tokenizes FTSE, Nikkei and the Defi Index

FTSE has been tokenized, as has Japan’s Nikkei. Both are ERC20 tokens, acting similar to bitcoin or eth, but they track the price of the British stock market or Japan’s.

They’re a derivative, the price is set at the London Stock Exchange or other exchanges with sFTSE just tracking it through an oracle.

Yet the derivative is a token that you can hold and put it in a wallet. Instead of just a number, it is actually a thing itself through a complicated system on a new dapp called Synthetix.

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