Synthetix xarid qiling.

Synthetix (SNX) is the native token of Synthetix, a decentralized liquidity protocol that enables the creation and trading of synthetic assets — on-chain representations of real-world assets such as currencies, commodities, equities, and cryptocurrencies. Built initially on Ethereum and now expanding to Optimism, Synthetix provides permissionless access to asset exposure without the need to hold the actual underlying asset.

At the core of the Synthetix ecosystem is a system of collateralized debt positions. Users stake SNX to mint synthetic assets (called “Synths”), which track the value of external assets through decentralized oracles. This system allows for decentralized trading of everything from fiat currencies to crypto indices — all on-chain and without traditional intermediaries.

The SNX token is essential for securing the protocol. When users stake SNX, they take on debt proportional to the Synths they mint and earn rewards from trading fees generated on Synthetix-integrated platforms like Kwenta, Polynomial, and others. SNX also functions as a governance token, with holders participating in protocol upgrades and policy decisions via the Synthetix DAO.

SNX is currently priced at $0.50, with a market capitalization of $171,358,051. The token reached its all-time high of $28.53 on February 14, 2021. There are 343,466,217 SNX tokens in circulation, from a total supply of 343,889,850.1, and a maximum supply of 343,889,850.1.

Synthetix introduced a simplified SNX staking model in May  2025, allowing users to earn rewards from protocol revenue without managing debt positions . The protocol also migrated Perps V4 back to Ethereum mainnet in June  2025, adding an off-chain matching engine to reduce gas costs while keeping on-chain settlement. Additionally, Synthetix distributes weekly incentive rewards and occasional treasury grants — like the STP‑8 integrator program — to support ecosystem development.

Buy Synthetix via credit or debit card directly through Nexo, or choose another supported payment method for access. If you’re ready to proceed, head over to the Nexo Exchange and buy SNX.