Long term, I would definitely say it has that potential. If you look at the success of defi platforms like compound, maker, aave, etc that have gone nearly 100x; synthetix has a similarly active community following and support as well as an active dev team that is constantly cranking out proprietary solutions. It also offers a pretty stellar APY return on just staking on the platform. However, unlike Maker or Aave, you can mint a stablecoin against your staked tokens as collateral to trade with infinite liquidity while earning APY rewards at the same time (so long as you keep your collateralization ratio in check), which is pretty awesome if you ask me.

Now I would certainly urge anyone to do their own research, but Synthetix is definitely one worth looking into and potentially getting involved with.