Depositing to the 420 Pool
Who Can Participate?
The 420 Pool is currently open only to existing SNX stakers. To check if you have an active staking position:
Visit 420.synthetix.io and connect your wallet. Your staking position will automatically show up as available to deposit to the 420 Pool, including your associated debt balance — this is the amount that will be forgiven over 12 months.
To manage your positions without depositing to the 420 Pool, you can:
Visit legacy-staking.synthetix.io (v2 staking) or liquidity.synthetix.io (v3 staking).
What About Non-Stakers?
While only existing stakers can participate in the Debt Jubilee, new stakers will be able to enter the 420 Pool in a later phase with additional incentives.
If you are undecided about joining the 420 Pool now, you can still exit later if new staking incentives are announced.
If you are interested in participating in Phase 2, you can buy SNX at any time, and Phase 3 will introduce a 1-click buy-and-stake interface.
How to Deposit to the 420 Pool
Step 1: Visit the 420 Pool App
Go to 420.synthetix.io and connect with the wallet that holds your SNX staking position.
Step 2: Select Your Network
Ensure you are on the correct network (Optimism or Ethereum) where your SNX is currently staked.
Step 3: Burn Your Debt
After connecting, you will see the Burn My Debt option.
Clicking Burn My Debt will prompt a confirmation modal to proceed.
Once confirmed, your SNX will be delegated to the 420 Pool, and your debt will begin burning over 12 months.
Step 4: Track Your Debt Burn
After a successful migration, you will see a Debt Burn tracking interface.
Your debt will decrease linearly over 12 months—50% after 6 months, 100% after 12 months. Debt will never increase, and you can never be liquidated.
Once 12 months are complete, your debt reaches 0, and your SNX is automatically unlocked.
Exiting the 420 Pool
To unstake, withdraw using the Withdraw button.
There is a 7-day cooldown before withdrawn SNX can be claimed.
If you choose to exit before your debt is fully burned, you must repay your remaining debt, minus the early exit penalty.
Early Exit Penalties
Penalties only apply to burned debt—you will never owe more than your debt at entry.
The penalty starts at 100% on Day 1 and reduces to 50% at the end of 12 months.
If you exit early, you must repay the remaining debt minus the relief applied and any penalties before withdrawing SNX.
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