Synthetix (SNX) Live Price and charts Today

The SNX token is used for staking to provide collateral in order to create a synthetic asset via Mintr. Stakers are incentivized to create Synths as they receive the rights to a fixed amount of inflation as well as fees on the trading of the Synth. SNX stakers incur debt when they mint Synths, and to exit the system (i.e. unlock their SNX) they must pay back the debt by burning their proportion of Synths they minted.

100,000,000 SNX were issued in March 2018 and allocated as follows:

• 60% was allocated to investors in the Main Sale and the EOI Sale
• 3% was reserved for Bounties and Marketing Incentives
• 5% was reserved for Partnership Incentives
• 12% was allocated to the foundation, vesting quarterly for 12 months
• 20% was allocated to the team and advisors, vesting quarterly for 24 months

A new monetary policy was introduced in March 2019. This new policy introduces an inflationary supply to reward active stakers. Each year, for 5 years, the total rewards will be cut in half. The schedule is as follows:

In December 2019, the schedule changed to smooth out the decrease and add inflation into perpetuity.

Supply Schedule of SNX

Synthetix's original monetary policy featured a fixed supply. A new monetary policy was introduced in 2019. This new policy introduces an inflationary supply to reward active stakers. Each year, for 5 years, the total rewards will be cut in half, starting at 75,000,000 SNX for the first year. The total supply will eventually reach 245,312,500 SNX by 2024.