Synthetix Network TokenSNX
Synthetix Network Token is a decentralised synthetic asset issuance protocol. SNX serves as the utility token on Ethereum that powers Synthetix. Synthetic assets are minted when token holders stake their SNX as collateral using the decentralised Mintr dApp.
Calculate how much you can earn by staking Synthetix Network Token. Results vary based on the staking amount, term, and type selected.
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- What is Synthetix Network Token (SNX)?
- How to stake Synthetix Network Token (SNX)?
- SNX holders can lock their SNX as collateral to stake the system.
- Synths are minted into the market against the value of the locked SNX, where they can be used for a variety of purposes including trading and remittance.
- All Synth trades on Synthetix Exchange generate fees that are distributed to SNX holders, rewarding them for staking the system.
Synthetix, formerly Havven, is a cryptoasset-backed network that enables the creation of on-chain synthetic assets. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc.), synthetic commodities such as gold (sXAU), as well as more complex assets such as equity indices.