Synthetix Network Token
SNX
Synthetix Network Token (SNX) Feed: Events, News & Roadmap
Synthetix Network Token to Hold AMA on X on November 7th
Synthetix Network Token will host an AMA on X with Ethena Labs, Threshold DAO, and Kwenta. The focus of the discussion will be the new collateral feat…
Synthetix Network Token to Release New Version in June
Synthetix Network Token is entering a crucial phase of its v.3.0 rollout, which will introduce a new foundation and architecture for the protocol. The…
Synthetix Network Token to Host Community Call on April 24th
Synthetix Network Token is set to hold a community governance call on April 24th at 9 pm UTC. The key topics of discussion will include the launch of …
Synthetix Network Token to Host Community Call on December 20th
Synthetix Network Token will hold a community call on December 20th at 10 pm UTC. The call will cover a range of topics including updates on perpetual…
Synthetix Network Token to Cease SNX Token Inflation on December 17th
Synthetix Network Token has officially announced that the Spartan Council has voted to cease the inflation of the SNX token. This means that there wil…
Synthetix Network Token to Hold AMA on X on December 14th
Synthetix Network Token will host an AMA on X to delve into the details of the forthcoming Andromeda release. The event will provide an in-depth explo…
Synthetix Network Token to Hold AMA on X on November 15th
Synthetix Network Token will host an AMA on X with Valio, an asset management platform on November 15th at 16:00 UTC. The discussion will also cover t…
Synthetix Network Token to Hold Trading Competition
Synthetix Network Token is set to launch the perps v.3.0 trading competition on the Base Goerli testnet. The competition, which begins on October 2nd,…
Synthetix Network Token to Hold AMA on X on September 28th
Synthetix Network Token will host an AMA on X on September 28th at 7 pm UTC. The session will feature Rage Trade, who will discuss their upcoming inte…
Synthetix Network Token to Hold AMA on X
Synthetix Network Token will host an AMA on X on the upcoming Synthetix Perps v.3. The event is scheduled on September 7th at 6 pm UTC. The discussio…
Synthetix Network Token to Host a Community Call on August 29th
Synthetix Network Token will hold a community call on August 29th at 8 pm UTC. The call will cover a range of topics including the perpetuals v.3.0 te…
SNX to Be Listed on Perpetual Protocol on August 17th
Perpetual Protocol will list Synthetix Network Token (SNX) on August 17th at 14:00 UTC.
Synthetix Partners With Chainlink to Host AMA on Twitter on July 20th
Synthetix will host a Twitter АМА session in co-hosting with Chainlink on July 20. The session will discuss Chainlink’s Cross Chain Interoperability P…
AMA on Twitter
Join to an AMA on Twitter
Community Call
Join to community call
Synthetix v.3.0 on Ethereum
DeFi project Synthetix deployed the third version of the protocol
Listing on BitForex
SNX will be listed on BitForex
AMA on Twitter
At 6 pm UTC on Thursday, SNX be live on Twitter Spaces
AMA on Twitter
AMA on Twitter
Synthetix Network Token Events on the Chart
What is Synthetix Network Token?
Synthetix is a protocol on Ethereum that allows for the creation of synthetic assets, or “Synths”, which are essentially tokens representing the value of real-world assets. These can range from cryptocurrencies to commodities and fiat currencies, offering traders exposure to these assets without the necessity of owning them directly.
Synths leverage decentralized price oracles to accurately track the prices of their underlying assets. Unlike stablecoins, Synths are not backed by a direct reserve of the asset they represent, but by on-chain mechanisms and smart contracts. Owning a Synth doesn’t mean owning the underlying asset; instead, it offers exposure to the asset’s price fluctuations. This functionality, coupled with the interoperability of Synths as ERC-20 tokens, allows them to be integrated into other DeFi protocols for liquidity provision and trading.
The Synthetix Network Token (SNX) is a key component of the protocol, acting as the primary form of collateral used to mint Synths. Synthetix also supports Ethereum (ETH) as collateral. The system operates on an overcollateralization principle, ensuring each Synth represents less value than the collateral backing it. To maintain a certain collateralization ratio determined by governance, stakers mint or burn Synths or add more collateral, which is essential for them to continue earning staking rewards.