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Protocol Comparison

Continuum vs Synthetix: Solana vs Ethereum Synthetics

Comparing the leading synthetic asset protocols across chains

An in-depth comparison of Continuum on Solana and Synthetix on Ethereum, covering fees, speed, asset selection, and composability.

Continuum

Solana

Paired L/S Token Protocol

Transaction Speed
~400ms finalityexcellent
Transaction Cost
<$0.01excellent
Collateral Type
Stablecoins (USDC, USDT, USDv)good
Token Composability
Full SPL token standardexcellent
Liquidation Model
No liquidations on mintexcellent
Trading Venue
Any Solana DEXexcellent
Funding Rates
Noneexcellent

Pros

  • Sub-second transactions with minimal fees
  • No funding rates or holding costs
  • Tokens usable across all Solana DeFi
  • Simple L/S mechanism easy to understand

Cons

  • Solana ecosystem only
  • Newer protocol with less battle-testing
  • Smaller initial asset selection

Synthetix

Ethereum / Optimism

Debt Pool Collateral Model

Transaction Speed
~2-15 secondsgood
Transaction Cost
$0.10-$5.00fair
Collateral Type
SNX, ETH, LUSDgood
Token Composability
Limited to Synthetix ecosystemfair
Liquidation Model
Collateral ratio basedfair
Trading Venue
Synthetix exchange primarilyfair
Funding Rates
Dynamic based on skewfair

Pros

  • Long track record since 2018
  • Large asset selection
  • Deep liquidity for major synths
  • Strong Ethereum ecosystem integrations

Cons

  • Complex debt pool mechanics
  • Higher gas costs on mainnet
  • Funding rates affect holding costs

Our Verdict

Continuum is ideal for Solana-native users who want fast, cheap synthetic exposure with maximum DeFi composability. Synthetix is better for Ethereum users who need the battle-tested security and broader asset selection of a mature protocol.

Which Should You Use?

Active day trading

Continuum

Sub-second transactions and near-zero fees make high-frequency strategies viable

Long-term synthetic holding

Continuum

No funding rates means no cost to hold positions indefinitely

Complex DeFi strategies

Continuum

SPL token composability allows use across all Solana protocols

Ethereum ecosystem integration

Synthetix

Native to Ethereum with deep integrations across Ethereum DeFi

Exotic asset exposure

Synthetix

Larger selection of synthetic assets including forex and commodities

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