Steps for Staking SNX (via Minting)

Staking on Optimistic Ethereum
1.Transfer SNX to a Compatible Wallet: Use wallets like MetaMask, Frame, Trezor, Ledger, Coinbase Wallet, Rainbow Wallet, or other Wallet Connect-supported wallets.
2.Bridge Your SNX to Optimistic Ethereum: Transfer SNX from Ethereum Mainnet to Optimistic Ethereum using the Optimism Bridge.
1.Visit the Staking Site: Go to staking.synthetix.eth.limo and connect your wallet.
2.Connect to the Optimism Network: Ensure your wallet is connected to Optimistic Ethereum. Visit https://chainlist.org/ to add the network.
3.Bridge Ethereum for Gas Fees: Bridge Ethereum through the Optimism Gateway for fees on Optimism.
4.Stake Your SNX on Optimism: Use the "Stake & Borrow More" button on the Synthetix Staking app to stake your SNX.
Staking on Ethereum Mainnet
1.Transfer SNX to a Compatible Wallet: Same as above.
2.Be on the Ethereum Mainnet: Ensure your wallet is set to ETH mainnet and that the dapp is as well. No bridging is required if your SNX tokens are already on mainnet.
3.Visit the Staking Site: Navigate to the Synthetix staking platform.
4.Stake Your SNX on Mainnet: Follow the same process to stake SNX, but on the Ethereum Mainnet version of the platform.
Important Note: Locked SNX Due to Staking & Minting
Lock Period: When you stake SNX or mint additional sUSD, there is a mandatory lock period of 7 days.
Restrictions During Lock Period: During this time, you cannot burn your staked SNX or reduce your sUSD debt beyond the target collateralization ratio (c-ratio).
Applies to Both Networks: This lock-in rule applies for staking on Optimistic Ethereum and Ethereum Mainnet.
Last modified 8d ago