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      • Steps for Staking SNX (via Minting)
      • Steps for Unstaking SNX (via Burning)
      • Steps for Claiming Rewards
      • Automating Staking, Claiming, Burning, and Minting
        • Legacy Automated Minting & Claiming
      • Understanding the Collateralization Ratio
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    • Staking FAQ
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  1. Staking

Staking Guide (Nearing Deprecation)

Note: 420 migration has begun, and solo staking is being deprecated. Please see Depositing to the 420 Poolfor instructions on entering the 420 Pool.

Synthetix staking is notably different from other DeFi protocols, as it enables users to earn rewards by underwriting Synthetic Assets within the Synthetix protocol. Staking provides numerous benefits for protocols built on Synthetix, such as deep liquidity, low slippage, and highly competitive trading fees.

Although it is known as one of the most complex staking systems in the DeFi space, there is no need to worry. By following this multi-part guide, you'll be well-prepared. Let's start by reviewing some of the essential tasks that staking accomplishes within the system.

Staked SNX performs several critical tasks:

  • Creates deep liquidity for Synthetic Assets: Spot Synths and Perps

  • Supports various protocols that rely on Synthetix liquidity

  • Entitles users to trading rewards generated by traders.

To learn more about staking, continue reading the multi-part staking guide.

PreviousCurrent Protocol ParametersNextSteps for Staking SNX (via Minting)

Last updated 2 months ago