How It Works
How Synthetix Works
There are two kinds of tokens in the Synthetix Network: SNX, the Synthetix network token; and synthetic assets, known as Synths.
How nomins are minted
Lock SNX as collateral
SNX holders lock their SNX as collateral to stake the system.
Synths are minted into the market against the value of the locked SNX, where they can be used for a variety of purposes including trading and remittance.
Receive rewards as SNX holder
All Synth trades on Synthetix.Exchange generate fees that are distributed to SNX holders, rewarding them for staking the system.