Protocol Upgrade

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SNXSNX
SNX
-2.85%

Synthetix Network Token is entering a crucial phase of its v.3.0 rollout, which will introduce a new foundation and architecture for the protocol. The key changes include accelerating real yield by replacing inflationary SNX rewards with real yield from trading fees and a buyback/burn mechanism to reduce SNX supply. Additionally, sUSD will be backed by diverse assets like SNX, ETH, USDC, and yield-generating collateral, increasing scalability. The migration to v.3.0 will begin in June and be carried out in two phases. The first phase will involve SNX stakers on the Ethereum mainnet migrating in June. The second phase will extend the migration to Optimism SNX stakers after the Ethereum phase. The migration will be seamless, with SNX and sUSD in V2X being migrated 1:1 in v.3.0 without burning staker sUSD debt.

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24hour-high
$0.5404
24hour-volume
$373.24K
alltime-high
$28.53
alltime-low
$0.03478
market-cap--f
99.88%
fdv
$171.97M
24hour-low
$0.4942
market-cap
$171.97M
circulating-s
343.46M SNX
total-supply
343.88M SNX
max-supply
343.88M SNX
market-sentim
negative

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