Which coins are related to snx currency?

The associated currencies of SNX currency include: ETH (Ethereum): used for transactions; sUSD (Synthetic USD): a stable currency pegged to the US dollar, issued by SNX currency mortgage; various synthetic assets: and Assets such as stocks, commodities and cryptocurrencies are linked and issued as collateral for SNX coins.

Associated currency of SNX coin

SNX coin is the native token of the decentralized synthetic asset protocol Synthetix. It achieves its functionality by being associated with the following currencies:

ETH (Ethereum)

• The SNX coin is built on the Ethereum blockchain and therefore requires ETH to trade.

sUSD (synthetic US dollar)

• sUSD is the stablecoin in the Synthetix ecosystem and is pegged to the US dollar. SNX coins are used to collateralize the issuance of sUSD.

Other synthetic assets

• Synthetix allows the creation of a wide range of synthetic assets such as stocks, commodities and cryptocurrencies. These synthetic assets are collateralized with SNX coins and pegged to the price of the underlying asset.

Additional dependencies:

• LINK (chain link): Synthetix uses a link oracle to obtain the underlying asset price of synthetic assets.
• UNI (Uniswap): Synthetix coins can be traded through decentralized exchanges such as Uniswap.
• SNX staking: SNX coins can be staked to obtain sUSD rewards, which can then be used to issue synthetic assets.

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