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Synthetix Network TokenSNX
Synthetix Network Token is a decentralised synthetic asset issuance protocol. SNX is an Ethereum token that powers Synthetix. Synthetic assets are minted when token holders stake their SNX as collateral using the decentralised application, Mintr.
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- 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.