Is Synthetix a Dex?

Excuse me, could you clarify for me whether Synthetix falls into the category of a decentralized exchange, commonly referred to as a Dex? I've heard about Synthetix's innovative approach to synthetic assets, but I'm not entirely sure if it operates as a traditional Dex platform. Does it facilitate peer-to-peer trading of cryptocurrencies without the involvement of a central authority? Or does it offer a different set of functionalities that might be confused with a Dex? I'd appreciate any clarification you could provide.