Binance.US lists SNX.
- Buy Synthetix Network Token (SNX) with Bank Transfer (ACH), Debit Card, or Wire Transfer.
- Trading is available on the SNX/USD and SNX/USDT pairs.
- Deposits and withdrawals are open for SNX.
What is Synthetix Network Token (SNX)?
SNX is a utility token that serves as the native token of Synthetix, formerly named Havven. Synthetix is an Ethereum-based protocol that allows users to issue synthetic assets, or Synths, which can be traded on supported decentralized exchanges. Synths are essentially tokenized versions of traditional assets and derivatives, including fiat currencies, indexes, inverses, gold, other cryptocurrencies, and more.
SNX is used as collateral when minting Synths, which are created as ERC-20 smart contracts. Token holders can also choose to stake SNX to earn a portion of trading fees and interest, in effect, through inflationary monetary policy. Finally, SNX serves as a governance token, as users stake the token to vote on governance proposals and nominate candidates for one of three decentralized autonomous organizations (DAOs) that help govern Synthetix.
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