Kain Warwick Net Worth, Bio, Wiki, Synthetix

Kain Warwick.
Courtesy of Kain Warwick’s Medium page.


Who Is Kain Warwick?

Kain Warwick is an Australian investor and cryptocurrency entrepreneur who is most known as the founder of Synthetix – an Ethereum-based synthetic asset issuance platform which is commonly considered to be part of the “defi” or decentralized-finance phenomenon. Warwick has also founded the blueshyft retail payment network.

Warwick used to be an Assistant Tennis Coach at The Bay Club Company (September 2002 – August 2005) and was a guitarist/vocalist for The Lie Society band (October 2005 – September 2009).


Kain Warwick Bio And Background

Kain Warwick graduated from Waverley College in 1998 and went on to study Genetics at UNSW (University of New South Wales) Sydney in 1999. Warwick did not complete his education at UNSW, dropping out in his second year to move to Seattle and join a startup (according to his LinkedIn profile).

After graduation, Warwick held a number of positions in different firms, including IT Manager at Whatcard.com (February 2000 – December 2000), Pro Audio Manager at Guitar Center in Greater Boston Area, US (January 2006 – August 2008), and Project Manager at White Labelled in Sydney, Australia (February 2014 – October 2014).

In January 2009, Warwick established Pouncer – a live auction website exclusive to Australia. Warwick’s LinkedIn page reads in regard to Pouncer.

Unlike its competitors, Pouncer had numerous ways to earn free bids, and had many novel types of auctions.

Pouncer was shut down in June 2010.

In January 2013, Warwick founded Ai – a specialty music retailer that operated “purely online to deliver the best prices and service on music equipment in Australia.”

As of May 8, 2021, Kain Warwick was the non-exec director of blueshyft, Advisory Council Member at Blockchain Australia, and Advisory Board Member & Investor at Burger Collective.


Warwick’s Synthetix Platform

Homepage of Warwick's Synthetix.
Courtesy of Synthetix.io.


In December 2016, Kain Warwick founded Synthetix. Synthetix is described as follows on Warwick’s LinkedIn page:

Synthetix is a decentralised synthetic asset platform that supports multiple fiat currencies and commodities.

The litepaper of Synthetix provides the following overview of the platform:

Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s [decentralized exchanges].

. . .

SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived.

Synthetix supports fiat currencies, cryptocurrencies, and commodities.

Synthetix was originally established as Havven. The official launch of Havven occurred in February 2018 through an initial coin offering (ICO), according to Cointelegraph. The Australian SmartCompany wrote on March 1, 2018, that Havven’s ICO was valued at $30 million (AU$37 million).

The $30 million token sale of Havven was to run until March 6, but $25 million had already been claimed by March 1 in pre-sale pledges from individuals and crypto investment funds.

The Australian Financial Review writes that Synthetix introduced a new way “for people to lend their cryptocurrencies to others”, allowing them to establish new blockchain products. The publication adds:

It’s as if Google paid early users a fee and small ownership rights in the Google company every time they used the website to search.

Within the four months preceding September 2020 (when The Australian Financial Review’s article was published), Warwick’s Synthetix had attracted more than $10 billion in investments – an amount that went into freshly-minted crypto tokens. It had also attracted over $600 million in circulating money.

Warwick said:

By incentivising people to use the platform, we grew our user-base quickly, and those users made profits from providing us liquidity for others to trade.

Cointelegraph writes that Synthetix was one of the few successful 2017-era ICOs to survive the 2018-2019 altcoin bear market. Additionally, the publication writes that “Warwick was able to grow Synthetix to become one of DeFi’s ‘blue chip’ projects.”

In 2020, Synthetix had over $1.2 billion worth of Ether locked in the project. The SNX token saw sixfold gains as well.

In October 2020, Warwick stepped down as Synthetix’s “benevolent dictator” as the project transitioned to a decentralized autonomous organization governance structure.

In February 2021, the platform voted to allow synthetic versions of Tesla stock, as per Cryptobriefing.


Kain Warwick Net Worth

The exact net worth of Kain Warwick is unknown, but he said on Twitter on August 29, 2020, that 95% of his net worth is in SNX.

In February 2021, it became known that Warwick had acquired McGrath executive Shane Smollen’s Tamarama mansion for AU$16.5 million.

According to Crunchbase, Warwick has invested millions of dollars in crypto startups, including $7.5 million in Upshot, $3.2 million in Hashflow, and $6.7 million in Opyn.


Online Presence & Publicity

Kain Warwick is present on LinkedIn and Twitter. He also has a blog on Medium, but he doesn’t post there frequently.

Cointelegraph featured Warwick in its list of the top 100 notable people in blockchain in 2021. Other crypto entrepreneurs on the list include the Winklevoss twins, Andre Cronje, Hayden AdamsRaoul PalSergey NazarovAnthony PomplianoScott Melker, and Changpeng Zhao.




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