Deposit SNX to The 420 Pool

Deposit to the 420 Pool to have your debt wiped clean and be free from liquidation risk.

Last updated 2 days ago

Deposit SNX to The 420 Pool

Deposit to the 420 Pool to have your debt wiped clean and be free from liquidation risk.

As the protocol transitions away from staker-managed debt, depositing to the 420 pool will wipe existing staker debt clean over a period of 12 months.

Welcome to your final burn.

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There is a 7-day cooldown before withdrawn SNX can be claimed.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% after 364 days. On the 365th day, the penalty is reduced to 0%.
If you exit early, you must repay the remaining debt minus the relief applied and any penalties before withdrawing SNX.

Early Exit Example 1: Enter the 420 Pool with $1000 of debt and withdraw after 6 months

Initial Debt: $1000
Debt forgiven: $500
Early withdrawal penalty on debt forgiven: 50% + 25%
Debt needed to repay in order to exit: $875

Early Exit Example 2: Enter the 420 Pool with $1000 of debt and withdraw after 9 months

Initial Debt: $1000
Debt forgiven: $750
Early withdrawal penalty on debt forgiven: 50% + 12.5%
Debt needed to repay in order to exit: $718.75

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Last updated 2 days ago

As the protocol transitions away from staker-managed debt, depositing to the 420 pool will wipe existing staker debt clean over a period of 12 months.

Welcome to your final burn.

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% after 364 days. On the 365th day, the penalty is reduced to 0%.
If you exit early, you must repay the remaining debt minus the relief applied and any penalties before withdrawing SNX.

Early Exit Example 1: Enter the 420 Pool with $1000 of debt and withdraw after 6 months

Initial Debt: $1000
Debt forgiven: $500
Early withdrawal penalty on debt forgiven: 50% + 25%
Debt needed to repay in order to exit: $875

Early Exit Example 2: Enter the 420 Pool with $1000 of debt and withdraw after 9 months

Initial Debt: $1000
Debt forgiven: $750
Early withdrawal penalty on debt forgiven: 50% + 12.5%
Debt needed to repay in order to exit: $718.75