How to Stake SNX

The Synthetix staking system has been redesigned to make staking SNX easier and more rewarding than ever. Whether you’re a long-term holder or new to the ecosystem, Simple Staking provides direct rewards without debt, liquidations, or complex management.

This guide will walk you through how to stake your SNX.

Step 1: Acquire SNX

You can buy SNX on most major centralized exchanges or via a decentralized swap aggregator like Llamaswap on Ethereum Mainnet, or swap from any chain to SNX on Ethereum Mainnet using Bungee.

If you hold SNX on another chain such as Optimism, you'll need to bridge to Ethereum Mainnet. Please be aware bridging to mainnet takes about 1 week using the Optimism bridge.

Once you hold SNX on Ethereum Mainnet in your wallet, you’re ready to stake.

Step 2: Visit the 420 Pool App

• Go to 420.synthetix.io.

• Connect your wallet on Ethereum Mainnet — this is currently the only network supported for new stakers.

If you have an existing Debt Jubilee position on Optimism, you will need to switch to Optimism to manage this position.

Step 3: Staking SNX

Once your SNX is in your wallet, you can stake it.

• Select the SNX tab

• Enter the amount of SNX you’d like to stake (at least 30)

• Click Stake

⚠️ Please ensure you have ETH on Ethereum Mainnet for gas. At least 0.02 ETH is recommended.

Step 4: Understand the Rewards

• 5 million SNX will be distributed over 12 months to Simple Stakers

• Rewards begin unlocking after the full 12-month period

• If you exit early, a penalty applies to earned rewards only — your principal SNX can be withdrawn after cooldown

Early Exit Penalty (only on rewards):

• Starts at 100% on day 1

• Decreases linearly to 0% by the end of the program

Early Exit Penalty Examples (based on 100 SNX staked, ~50% APY = 50 SNX rewards)

Unstaking at 3 months (25% through program):

• Rewards earned: 12.5 SNX

• Penalty: 75% → 9.38 SNX forfeited

• Net rewards: 3.13 SNX

• Total received: 100 SNX + 3.13 SNX = 103.13 SNX

Unstaking at 9 months (75% through program):

• Rewards earned: 37.5 SNX

• Penalty: 25% → 9.38 SNX forfeited

• Net rewards: 28.13 SNX

• Total received: 100 SNX + 28.13 SNX = 128.13 SNX

Step 5: Track Your Position

Once staked, your position will appear in the interface. You’ll be able to see:

• Amount staked

• Total accrued rewards

• Estimated time to full vest

Congratulations! You are now staking SNX!

Rewards have not yet begun. Your staking position will not populate information about yield and accrued rewards until the program begins.

Withdrawing Your Staked Position

• To withdraw your staking position, simply select "Unstake" next to your position.

• A confirmation screen will display your rewards and penalty (if any)

• Confirm that the action cannot be undone, and click "Unstake".

If you are still under the initial 7 day cooldown, note the time left on the cooldown clock, shown on this screen

Staking on Infinex

Staking on Infinex is expected soon! Simply deposit SNX to Infinex on Ethereum Mainnet, or swidge any token to SNX on Ethereum Mainnet using Infinex.

sUSD Staking

If you prefer stable staking, the sUSD staking program is also active.

• Stake sUSD to earn SNX rewards

• sUSD is locked until April 2026

• Rewards unlock linearly over 3 months after the program ends