$SNX

$SNX

Introduction to Synthetix (SNX)
Long-term growth target: $3-$6
Introduction to Synthetix Network
Synthetix is a decentralized asset insurance protocol that allows users to mint, hold, and trade various types of derivatives – including commodities, cryptocurrencies, fiat currencies, and even stocks.
Introduction to SNX token
SNX is the native token of the Synthetix protocol. It is used as collateral to create synthetic assets such as the stablecoin sUSD. Users who lock SNX in the protocol can create synthetic assets based on the price of real-world assets like currencies, commodities, and stocks. SNX holders are rewarded with a portion of the transaction fees generated by the platform. They also receive additional SNX tokens as rewards.
Synthetix tokenomics
After passing a community proposal in May 2022, the SNX token has achieved an inflation target of 20% (new tokens created) per year. These new tokens are used to reward users staking SNX.
The initial supply of the SNX token is allocated as follows:
Investors: 60%
Development team and advisors: 20%
Synthetix Foundation: 12%
Partners: 5%
Marketing: 3%
Thanks to Synths, users can gain exposure to various types of assets without needing to own those assets. This can provide benefits such as diversification and liquidity, while also opening up new possibilities in DeFi applications.
@Bitcoinboy-8686
(Personal analysis, not financial advice)