SNX Coin yorum

The simple math behind staking is this: if the value of the SNX token increases, you’ll be able to mint more . And if the value of the SNX token decreases, your minted value and contribution to global debt will remain the same. However, a decrease in SNX value may complicate your ability to claim rewards.

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

SNX plays a vital role in the Synthetix platform. SNX tokens are used as collateral when you want to create synths , which are synthetic assets that you can trade with other protocol users. In this way, you don’t actually hold the underlying asset, but rather trade with what it’s worth.