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Synthetix Network Token - search results
Switcheo lists Synthetix Network Token (SNX)
The token can be exchanged for Ethereum (ETH).
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Synthetix
In addition, the Synthetix protocol is built in such a way as to open a debt position against the stakers when they generate new Synths and to exit the system, thus unlocking their SNXs: basically, in order to pay this debt, Synths tokens must be burned.
All Synth transaction fees that take place on Synthetix's non-depository DEX, will be paid to SNX holders, thereby incentivizing the creation of new Synths and bringing value to the token itself. The market value of SNX is essentially measured by its degree of adoption.
SNX has recently been integrated into the DEX Switcheo with the SNX-ETH trading pair.
Synthetix: what is it for and why it uses Ether as collateral
ETH stakers will not receive commissions or rewards