-
Bitcoin $87,985.5737
0.72% - Ethereum
$1,574.8026
-3.90% - Tether USDt
$0.9999
0.00% - XRP
$2.0783
-1.83% - BNB
$600.4630
-0.57% - Solana
$138.7268
-1.43% - USDC
$1.0000
0.00% - Dogecoin
$0.1604
-0.49% - TRON
$0.2468
0.93% - Cardano
$0.6232
-2.68% - Chainlink
$13.0447
-3.65% - UNUS SED LEO
$9.1903
-2.36% - Avalanche
$19.7884
-0.95% - Stellar
$0.2455
-2.64% - Toncoin
$2.9136
-3.77% - Shiba Inu
$0.0...01234
-3.12% - Sui
$2.2351
0.79% - Hedera
$0.1701
-0.34% - Bitcoin Cash
$343.8870
1.52% - Hyperliquid
$18.4355
1.81% - Litecoin
$78.5146
-0.23% - Polkadot
$3.7235
-4.61% - Dai
$1.0000
0.00% - Bitget Token
$4.4307
-2.55% - Ethena USDe
$0.9992
-0.01% - Pi
$0.6322
-0.72% - Monero
$215.4354
-0.09% - Pepe
$0.0...07934
0.95% - Uniswap
$5.2398
-3.49% - OKB
$50.8827
-0.49%
What is SNX coin? Learn what SNX coin is in one minute
SNX holders contribute to the Synthetix ecosystem by staking their tokens to mint synthetic assets, providing network security rewards, and governing the protocol through a DAO.
Oct 06, 2024 at 07:17 pm
What is SNX Coin?
1. Definition
SNX coin is the native token of the Synthetix protocol, a decentralized finance (DeFi) platform that allows users to create synthetic assets representing real-world assets, such as stocks, commodities, and fiat currencies.
2. Purpose
SNX holders play a crucial role in the Synthetix ecosystem:
- Users stake SNX to mint new synthetic assets (Synths).
- Staked SNX secures the Synthetix network and earns rewards.
- SNX holders govern the protocol through a decentralized autonomous organization (DAO).
3. Tokenomics
- Total supply: 210,951,241 SNX
- Circulating supply: 101,732,962 SNX
- Usage: Staking, governance
- Launched: February 2019
4. How Does SNX Work?
- Users stake SNX to create Synths, which track the value of real-world assets.
- Each Synth is backed by a pool of ETH or SNX held in a smart contract.
- Stakers earn rewards for providing liquidity to the network.
5. Benefits of SNX
- Enables access to a wide range of synthetic assets without the need for traditional intermediaries.
- Provides a way to speculate on the value of real-world assets without owning them directly.
- Rewards users for providing liquidity and securing the network.
6. Conclusion
SNX coin is a cornerstone of the Synthetix platform, empowering users to create, trade, and leverage synthetic assets in a decentralized and efficient manner.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
- Reserve Protocol's RSR token surges over 13% after Coinbase listing announcement
- 2025-04-22 13:40:11
- Bitcoin (BTC) May Soon Mirror Gold's Price Trajectory, Setting Up a $450,000 Target by Year-End
- 2025-04-22 13:40:11
- PEPE price prediction: Bullish breakout could be the start of a rally
- 2025-04-22 13:35:12
- Pi Network (PI) Price Prediction: Experts Forecast Jump to $5
- 2025-04-22 13:35:12
- 4 Altcoins That Will Explode in 2025: What Web3 ai, XRP, Cardano, and PEPE Are Signaling Now
- 2025-04-22 13:30:12
- Mantra (OM) founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens
- 2025-04-22 13:30:12
Related knowledge
What is impermanent loss insurance? What are the solutions?
Apr 12,2025 at 01:14am
What is Impermanent Loss Insurance? What are the Solutions? Impermanent loss is a significant concern for liquidity providers in decentralized finance (DeFi) platforms. It occurs when the price of tokens in a liquidity pool changes compared to when they were deposited, leading to a potential loss if the provider decides to withdraw their liquidity. To m...
What are algorithmic stablecoins? How do they maintain anchoring?
Apr 12,2025 at 11:35am
Algorithmic stablecoins represent a fascinating and innovative segment within the cryptocurrency ecosystem. These digital assets are designed to maintain a stable value, typically pegged to a fiat currency like the US dollar, through the use of algorithms rather than traditional collateral. This approach distinguishes them from other types of stablecoin...
What is leveraged mining? How is risk-return calculated?
Apr 11,2025 at 04:07pm
What is Leveraged Mining? How is Risk-Return Calculated? Leveraged mining is a strategy used in the cryptocurrency space where miners borrow funds to increase their mining capacity and potential returns. This approach can amplify both profits and losses, making it a high-risk, high-reward endeavor. Understanding how to calculate the risk and return asso...
What is an aggregator? How does 1inch optimize transaction paths?
Apr 12,2025 at 05:00pm
An aggregator in the cryptocurrency space is a tool that compiles and compares data from multiple decentralized exchanges (DEXs) to find the best possible trading routes and prices for users. Aggregators are essential for traders looking to optimize their transactions, as they can automatically search through various liquidity sources to ensure the most...
What is a flash exchange? How is it different from a normal exchange?
Apr 16,2025 at 03:43pm
A flash exchange, also known as a flash swap, is a relatively new concept within the cryptocurrency space that has gained significant attention due to its innovative approach to trading. Unlike traditional exchanges, flash exchanges leverage the power of decentralized finance (DeFi) protocols to enable instant, collateral-free trades. In this article, w...
What is impermanent loss? How to reduce risk?
Apr 16,2025 at 11:14pm
What is Impermanent Loss? How to Reduce Risk? Impermanent loss is a term that frequently surfaces in the world of decentralized finance (DeFi), particularly when discussing liquidity provision on automated market makers (AMMs) like Uniswap or SushiSwap. Understanding this concept is crucial for anyone looking to engage in liquidity provision, as it dire...
What is impermanent loss insurance? What are the solutions?
Apr 12,2025 at 01:14am
What is Impermanent Loss Insurance? What are the Solutions? Impermanent loss is a significant concern for liquidity providers in decentralized finance (DeFi) platforms. It occurs when the price of tokens in a liquidity pool changes compared to when they were deposited, leading to a potential loss if the provider decides to withdraw their liquidity. To m...
What are algorithmic stablecoins? How do they maintain anchoring?
Apr 12,2025 at 11:35am
Algorithmic stablecoins represent a fascinating and innovative segment within the cryptocurrency ecosystem. These digital assets are designed to maintain a stable value, typically pegged to a fiat currency like the US dollar, through the use of algorithms rather than traditional collateral. This approach distinguishes them from other types of stablecoin...
What is leveraged mining? How is risk-return calculated?
Apr 11,2025 at 04:07pm
What is Leveraged Mining? How is Risk-Return Calculated? Leveraged mining is a strategy used in the cryptocurrency space where miners borrow funds to increase their mining capacity and potential returns. This approach can amplify both profits and losses, making it a high-risk, high-reward endeavor. Understanding how to calculate the risk and return asso...
What is an aggregator? How does 1inch optimize transaction paths?
Apr 12,2025 at 05:00pm
An aggregator in the cryptocurrency space is a tool that compiles and compares data from multiple decentralized exchanges (DEXs) to find the best possible trading routes and prices for users. Aggregators are essential for traders looking to optimize their transactions, as they can automatically search through various liquidity sources to ensure the most...
What is a flash exchange? How is it different from a normal exchange?
Apr 16,2025 at 03:43pm
A flash exchange, also known as a flash swap, is a relatively new concept within the cryptocurrency space that has gained significant attention due to its innovative approach to trading. Unlike traditional exchanges, flash exchanges leverage the power of decentralized finance (DeFi) protocols to enable instant, collateral-free trades. In this article, w...
What is impermanent loss? How to reduce risk?
Apr 16,2025 at 11:14pm
What is Impermanent Loss? How to Reduce Risk? Impermanent loss is a term that frequently surfaces in the world of decentralized finance (DeFi), particularly when discussing liquidity provision on automated market makers (AMMs) like Uniswap or SushiSwap. Understanding this concept is crucial for anyone looking to engage in liquidity provision, as it dire...
See all articles
