SNX Token

Last updated: Jun 24, 2026

SNX is the native token of the Synthetix ecosystem.

This page explains what SNX is, what changed after the retirement of legacy staking, where SNX is supported, and how the token is used today.

Overview

SNX was originally introduced as the core token of the Synthetix protocol.

Historically, SNX was used for staking participation, protocol incentives, debt management, and broader ecosystem participation. Following the retirement of the legacy 420 Pool staking system, SNX is no longer used in that previous staking model.

SNX remains the native token of the Synthetix ecosystem. Its current protocol-related uses are more limited and are described below.

Current Role of SNX

The legacy 420 Pool staking system has been retired, and previous SNX staking mechanisms are no longer active.

Today, SNX is used within the ecosystem for:

• Broader ecosystem participation where supported by Synthetix governance or ecosystem initiatives
• Debt resolution for former 420 Pool stakers with outstanding debt
• Settlement in the sUSD to SNX conversion process under SIP-423

For information about the retired staking system, see 420 Legacy Staking.

Supported Networks

SNX is available on multiple networks.

How to Acquire SNX

SNX may be acquired through supported centralised exchanges and decentralised exchanges.

Before purchasing SNX, users should:

• Verify the correct network
• Confirm the token contract address
• Ensure their wallet supports the selected network

Users should always verify the network and token contract address before purchasing or transferring SNX.

Bridging SNX

SNX can be transferred between supported networks using compatible bridge providers, such as Superbridge.

Before bridging SNX:

• Confirm the destination network is supported
• Verify the token contract address on both networks
• Ensure the receiving wallet supports the destination network
• Confirm the selected bridge supports SNX transfers

Bridge availability, transfer times, and fees vary by provider and network.

Future Utility

Future SNX utility may be introduced through protocol upgrades, governance proposals, or ecosystem initiatives.

Areas that may be considered in future Synthetix development include:

• New SNX staking or participation mechanisms
• SNX buybacks using earned protocol fees
• SNAXPOT-related eligibility or ticket multipliers
• Additional ecosystem incentives
• Other governance-approved participation mechanisms

These features are not currently active unless separately announced through official Synthetix governance or ecosystem channels.

Additional Resources

For the latest information about SNX, refer to official Synthetix announcements, governance proposals, and protocol updates.