All About Synthetix Network Token (SNX)

Synthetix is an Ethereum-based protocol that allows users to create and issue synthetic assets, or Synths, which can be traded on supported decentralized exchanges.

Synths are essentially tokenized versions of traditional assets and derivatives, including fiat currencies, indexes, inverses, gold, other cryptocurrencies, and more. The values of Synths fluctuate based on the current price of the asset they represent.

What is Synthetix Network Token (SNX)?

SNX is used as collateral when minting Synths, which are created as ERC-20 smart contracts. Token holders can also choose to stake SNX to earn a portion of trading fees and interest, in effect, through inflationary monetary policy.

Finally, SNX serves as a governance token, as users stake the token to vote on governance proposals and nominate candidates for one of three decentralized autonomous organizations (DAOs) that govern Synthetix.

How to buy Synthetix Network Token (SNX) on Binance.US

Deposit Synthetix Network Token (SNX) on Binance.US!

Trade Synthetix Network Token (SNX) on the SNX/USD and SNX/USDT pairs.

Buy SNX with Bank Transfer (ACH), Debit Card, or Wire Transfer.

Download the Binance.US app to trade on the go: iOS | Android

Follow us on social media to stay up to date with Binance.US news and announcements:

Telegram

Twitter

Facebook

Instagram

LinkedIn

Reddit

Youtube

Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice, we make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.