$SNX

Altcoin Listed on Binance Announces Major Update: Price Volatility to Come

Synthetix (SNX) is gearing up to launch its long-awaited Snaxchain on September 15.

Snaxchain, which will initially focus on Synthetix governance functions, promises to start a new era for Synthetix users and expand its capabilities over time.

Snaxchain’s roadmap includes several innovations aimed at improving the Synthetix ecosystem. These include:

Cross-chain SNX staking and fee collection: Allows staking of SNX tokens on different chains and collecting fees.

Cross-chain asset management: Will make asset management across multiple networks easier.

Cross-chain SNX liquidity sharing: Designed to provide deeper liquidity across multiple platforms.

Multi-Chain Synthetic Perps Trading: Aims to provide new opportunities for leveraged trading.

Although a website and explorer for the testnet have recently been created, they are not yet public.

However, the upcoming launch shows that Snaxchain is approaching the final stages of development.

This update will be put up for vote on the Synthetix governance forum today and will most likely be approved by the community.