Review on Synthetix Network Token by Özgün A
SNX
The Synthetix Network Token (SNX) project was first launched by Kain Warwick as a stable cryptocurrency called Havven. It was launched in December 2019 under the name Synthetix Network Token (SNX). It became one of the biggest DeFi projects with its introduction to the market with 180 million worth of Synthetix Network Token (SNX). In the Synthetix Network Token (SNX) system, there is a synthetic version of the stocks, precious metals, national currencies and other assets traded in the real world, ie "Synths" equivalent. Thanks to the Synthetix Network Token (SNX) system, assets traded in this real world can be traded at virtually the same prices. With the staking method, mining is done by keeping a certain cryptocurrency balance in the wallet without spending and transferring. You will win prizes periodically by the system in proportion to the amount you keep in your wallet.
Pros
- Do not need any center or authority
- infinite liquidity advantage
Cons
- Little recognition
