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"The Synthetix (SNX) project, one of the biggest ecosystems in decentralized finance (DeFi), recently launched the Hadar upgrade, which enabled tokenized real-world assets like Brent oil and the Nikkei stock index."

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The article describes Synthetix as a means for speculating on real-world assets through the trading of tokens representing equity actually held on other exchanges. However, the tokens themselves merely underly the SNX crypto actually being exchanged.

IOW, it's just another vessel for speculating which purports to be backed by real financial assets in the same way Tether purports to be backed by cash.

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