Review on Synthetix Network Token by Digital Convict
The 3 "S": Synths, SNX & Synthethix Net
The protocol built on the Ethereum blockchain, made up of:
1. Synths
2. SNX
3. Synthetix Network
"Synths" is a synthetic asset created by investing "SNX" Synthetix Network Token (An ERC-20 token with a total supply of 207M) in "Synthetix Network", the DeFi trading network; Where you can trade some of the most valuable assets on the market such as BTC, ETH, BNB, MKR, USD, Euro and gold.
Your smart contracts must be choletarised at 750% as proof of support; With this, it offers staking winnings.
Staking is done in the DApp Mintr, where SNX holders can connect one of the 6 supported wallets; Portis, WalletConnect, MetaMask, Ledger, Coinbase, Trezor.
The deposit is for one year, you only could withdrawal the
Rewards on Wednesdays of each week, with a tolerance of 15 days. If the rewards are not collected, they are will be by the platform and distributed among other participants;
If you are interested in this project, do not forget it.
Pros
- The rewards
Cons
- Long term staking
