Switcheo Lists Synthetix Network Token (SNX)

Token Listings Jan 28, 2020

We are excited to announce that Synthetix Network Token (SNX) is now listed on Switcheo Exchange. Switcheo users will be allowed to trade SNX against ETH.

We’re also hosting a trading competition to celebrate this listing! For more information, click the link below:

Trading Competition - 1,000 SNX & 250,000 SWTH Giveaway
Switcheo will be hosting a trading competition to celebrate the listing of Synthetix Network Token (SNX) on Switcheo Exchange! Trade SNX on Switcheo Exchange from 28th Jan, 2020, 12:00PM SGT, to 4th Feb, 2020, 12:00AM SGT, and stand a chance to win from a pool of 1,000 SNX and 250,000 SWTH. How To…

Trade SNX/ETH on Switcheo Exchange now!

About Synthetix:

Synthetix is a decentralized synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivized to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network.

All Synths are backed by SNX tokens. Synths are minted when SNX holders stake their SNX as collateral using Mintr, a decentralized application for interacting with the Synthetix contracts. Synths are currently backed by a 750% collateralization ratio, however, this may be raised or lowered in the future through community governance mechanisms. SNX stakers incur debt when they mint Synths, and to exit the system (i.e. unlock their SNX) they must pay back this debt by burning Synths.

Find out more about Synthetix here:

Website | Twitter | Discord | Medium| Reddit


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Switcheo Team

Switcheo is the first multichain DEX that allows for cross-chain trading of Ethereum, EOS and NEO based tokens.