Synthetix Token (SNX)
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Synthetix Docs
Synthetix V2X - User Docs
Last updated
The Synthetix Network token (SNX) incentivizes coordination and growth within the Synthetix Network. It has two primary functions: (a) Staking and (b) Governance.
SNX Stakers earn trading rewards, which are charged to traders for collateralizing the network. Inflationary rewards are no longer distributed to stakers with the passage of SIP 2043.
With the recent (Dec 2023) passage of SIP-2043, inflation has been reduced to zero, ending inflationary rewards for staking. Learn more in the blog post.
For past inflation data, see the Synthetix Inflation Stats.
Synthetix Stakers are assigned a percentage of debt ownership proportion to their amount of SNX staked. Then their voting weight is weighted for all but the Council. Voting is done through the fully on-chain Synthetix Governance Module.