What kind of currency is SNX coin? Introduction to the official website, circulation and trading platform of SNX coins

Synthetix's native token, SNX, allows holders to stake for collateralized synthetic asset creation, participate in governance, and capture ecosystem value.

Oct 03, 2024 at 07:42 am

What is SNX Coin?

SNX is the native token of Synthetix, a decentralized synthetic asset platform. Synthetix allows users to create and trade synthetic assets, which are on-chain representations of real-world assets such as stocks, commodities, and fiat currencies.

Official Website:

https://synthetix.io/

Circulation:

As of March 2023, there are approximately 129.6 million SNX tokens in circulation out of a total supply of 212.4 million.

Trading Platforms:

SNX can be traded on major cryptocurrency exchanges, including:

Binance
Coinbase Pro
FTX
Huobi Global
Kraken

Key Features of SNX:

Collateralization: SNX holders can stake their tokens to provide collateral for synthetic asset creation. In return, they earn rewards in the form of fees.
Governance: SNX holders can participate in the governance of the Synthetix platform through the SNXDAO.
Value Capture: SNX tokens capture the value of the Synthetix ecosystem by earning fees from synthetic asset trading and collateral staking.

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