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.

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How to Deposit to the 420 Pool

Connect your wallet to the 420 Pool UI

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.

Once deposited, monitor the progress of your debt burn

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• There is a 7-day cooldown before withdrawn SNX can be claimed.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.