VNDC officially added Synthetix Token (SNX) on VNDC Wallet on August 18. After SNX is listed, users can perform the following functions:
- Off-chain transactions: Send, receive SNX with other users on the same system.
- Exchange: Convert from VNDC to SNX and vice versa.
About Synthetix
Synthetix is a protocol that enables the issuance of synthetic assets on the Ethereum blockchain. Synthetix supports synthetic commodities like gold and silver, synthetic cryptocurrencies, synthetic inverse cryptocurrencies, synthetic cryptocurrency indexes, and synthetic fiat currencies. The platform brings non-blockchain-based asset exposure to the crypto ecosystem, thus creating a more mature financial market.
Synthetix use decentralized oracles, which are smart contract-based price discovery protocols, to track the prices of the assets represented, allowing you to hold and exchange Synthetix as if you actually own the underlying assets..
Website: https://www.synthetix.io/
What is SNX token?
SNX is a native token of Synthetix platform, used as collateral to make it easier for users to buy/own other synthetic assets available on Synthetix .
In condition, SNX also can be used for:
- Staking: Users can participate in staking assets and receive rewards paid in SNX.
- Sharing transaction fees generated on some operations of the Synthetix platform.
- Locking up as collateral to issue synthetic assets to the market.
- Pay transaction fees on DEX Synthetix.
Specifications:
- Name: Synthetix Token
- Symbol: SNX
- Platform: Ethereum
- Standard: ERC20
- Smart Contract Address: 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f
- Type: Utility Token
SNX is now on some of the largest cryptocurrency exchanges like Binance, Tokocrypto, OKEx, FTX, or Huobi Global. At the time of writing, SNX is ranked #73 on CoinMarketCap:
SNX Price 261,233 VNDC Market Cap 1,279,012,483 USD 24h Trading Volume 160,731,875 USD Circulating Supply 114,841,533 SNX Max Supply 212,424,133 SNX
Trading SNX on VNDC Wallet
With SNX is available on VNDC, users can perform the following features with SNX:
- Off-chain transactions: Send, receive SNX with other users on the same system.
- Exchange: Convert from VNDC to SNX and vice versa.