Inspired by the Synthetix Derivatives Protocol, SynthX Lab was created as a crypto-backed synthetic asset platform built on the XDC Network. 

SynthX Lab's primary goal is to provide exposure to real-world assets—such as cryptocurrencies, fiat currencies, and commodities—without requiring users to hold the actual assets themselves

It operates as a multi-token system powered by XDC and/or PLI tokens. XDC or PLI holders can stake their tokens to mint xdUSD, a stablecoin backed by cryptocurrency. These xdUSD tokens can then be swapped for an expanding range of synthetic assets and commodities through Smart Contracts. Currently, SynthX Lab is deployed on the Apothem network and is expected to launch on MAINNET based on community feedback.

The prices of these synthetic assets are obtained from Plugin's Decentralized Oracle Network.