• bitcoinBitcoin (BTC) $ 96,835.00
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  • bnbBNB (BNB) $ 940.62
  • usd-coinUSDC (USDC) $ 0.999793
  • staked-etherLido Staked Ether (STETH) $ 3,362.82
  • tronTRON (TRX) $ 0.305021
  • dogecoinDogecoin (DOGE) $ 0.144228
  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.04
  • cardanoCardano (ADA) $ 0.404118
  • wrapped-stethWrapped stETH (WSTETH) $ 4,118.38
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  • whitebitWhiteBIT Coin (WBT) $ 57.92
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 3,658.88
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 96,616.00
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  • chainlinkChainlink (LINK) $ 14.01
  • usdsUSDS (USDS) $ 0.999625
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  • wethWETH (WETH) $ 3,364.44
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  • suiSui (SUI) $ 1.83
  • ethena-usdeEthena USDe (USDE) $ 0.999895
  • avalanche-2Avalanche (AVAX) $ 14.40
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  • usdt0USDT0 (USDT0) $ 0.999880
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.171923
  • daiDai (DAI) $ 1.00
  • the-open-networkToncoin (TON) $ 1.78
  • susdssUSDS (SUSDS) $ 1.09
  • crypto-com-chainCronos (CRO) $ 0.102522
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.21
  • paypal-usdPayPal USD (PYUSD) $ 0.999922
  • polkadotPolkadot (DOT) $ 2.20
  • uniswapUniswap (UNI) $ 5.55
  • usd1-wlfiUSD1 (USD1) $ 0.999611
  • rainRain (RAIN) $ 0.009562
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  • bittensorBittensor (TAO) $ 284.00
  • memecoreMemeCore (M) $ 1.58
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  • pepePepe (PEPE) $ 0.000006
  • okbOKB (OKB) $ 115.02
  • tether-goldTether Gold (XAUT) $ 4,605.02
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  • nearNEAR Protocol (NEAR) $ 1.79
  • falcon-financeFalcon USD (USDF) $ 0.998250
  • jito-staked-solJito Staked SOL (JITOSOL) $ 182.37
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,361.72
  • ethereum-classicEthereum Classic (ETC) $ 13.02
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  • aster-2Aster (ASTER) $ 0.748890
  • pax-goldPAX Gold (PAXG) $ 4,618.10
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • pi-networkPi Network (PI) $ 0.208051
  • solanaWrapped SOL (SOL) $ 145.41
  • pump-funPump.fun (PUMP) $ 0.002806
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.155207
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.96
  • binance-staked-solBinance Staked SOL (BNSOL) $ 158.79
  • worldcoin-wldWorldcoin (WLD) $ 0.591969
  • htx-daoHTX DAO (HTX) $ 0.000002
  • kucoin-sharesKuCoin (KCS) $ 11.62
  • hashnote-usycCircle USYC (USYC) $ 1.11
  • global-dollarGlobal Dollar (USDG) $ 0.999685
  • aptosAptos (APT) $ 1.92
  • hash-2Provenance Blockchain (HASH) $ 0.026539
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,885.63
  • wbnbWrapped BNB (WBNB) $ 940.53
  • ripple-usdRipple USD (RLUSD) $ 0.999450
  • skySky (SKY) $ 0.060038
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.15
  • bfusdBFUSD (BFUSD) $ 0.999164
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999660
  • kaspaKaspa (KAS) $ 0.047338
  • ondo-financeOndo (ONDO) $ 0.391760
  • cosmosCosmos Hub (ATOM) $ 2.54
  • arbitrumArbitrum (ARB) $ 0.215890
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,570.53
  • gatechain-tokenGate (GT) $ 10.47
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  • filecoinFilecoin (FIL) $ 1.57
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  • official-trumpOfficial Trump (TRUMP) $ 5.50
  • myx-financeMYX Finance (MYX) $ 5.61
  • ignition-fbtcFunction FBTC (FBTC) $ 96,922.00
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,094.00
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  • dashDash (DASH) $ 79.80
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  • usddUSDD (USDD) $ 0.999184
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  • story-2Story (IP) $ 2.65
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,573.92
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,640.16
  • xdce-crowd-saleXDC Network (XDC) $ 0.045265
  • usdtbUSDtb (USDTB) $ 0.999682
  • ousgOUSG (OUSG) $ 113.97
  • sei-networkSei (SEI) $ 0.123253
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.96
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.012667
  • bridged-usdc-polygon-pos-bridgePolygon Bridged USDC (Polygon PoS) (USDC.E) $ 0.999704
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 96,705.00
  • wrappedm-by-m0WrappedM by M0 (WM) $ 0.997666
  • morphoMorpho (MORPHO) $ 1.43
  • janus-henderson-anemoy-aaa-clo-fundJanus Henderson Anemoy AAA CLO Fund (JAAA) $ 1.02
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,594.33
  • clbtcclBTC (CLBTC) $ 96,264.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.227916
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 169.16
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.07
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,575.32
  • optimismOptimism (OP) $ 0.355262
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.11
  • blockstackStacks (STX) $ 0.382425
  • beldexBeldex (BDX) $ 0.089114
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.03
  • usdaiUSDai (USDAI) $ 1.00
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,364.35
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  • syrupusdtsyrupUSDT (SYRUPUSDT) $ 1.11
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.284182
  • tezosTezos (XTZ) $ 0.593665
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999775
  • curve-dao-tokenCurve DAO (CRV) $ 0.428021
  • eutblSpiko EU T-Bills Money Market Fund (EUTBL) $ 1.22
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  • tbtctBTC (TBTC) $ 97,126.00
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 25.28
  • chilizChiliz (CHZ) $ 0.055852
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  • usual-usdUsual USD (USD0) $ 0.998055
  • spx6900SPX6900 (SPX) $ 0.595759
  • lido-daoLido DAO (LDO) $ 0.640823
  • aerodrome-financeAerodrome Finance (AERO) $ 0.589650
  • injective-protocolInjective (INJ) $ 5.36
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  • msolMarinade Staked SOL (MSOL) $ 196.73
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Synthetix Aims To Fix Staking And Revive The Stablecoin

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Synthetix Aims To Fix Staking And Revive The Stablecoin

Anna Martynova

Kain WARWICK, founder of Synthetix, says SNX staking is broken, and the solution is a leveraged, no-liquidation staking model that absorbs debt and scales yield. 420 Pool , a new staking model where SNX holders stake their tokens, allowing the protocol to centrally manage debt and seek yield opportunities.

At launch, the primary source of yield will be minting sUSDe via Ethena, with future integrations expected. Synthetix’s old model had a scaling problem, and Warwick presents this as a necessary evolution. Perhaps the most radical aspect of this plan is a “debt jubilee,” which forgives historical sUSD debt over 12 months. Synthetix debt stake holders have the option to deposit into 420 Pool and have the protocol absorb their debt. Re-entry could boost SNX staking participation as users who previously avoided the complexity of debt management now have a “clean slate” to stake.

420 Pool is either a brilliant evolution or another over-engineered Synthetix experiment. The bet is that the market wants leveraged yield without the risk of liquidation. If Synthetix is right, this is the most sophisticated DeFi staking product to date. If it’s not, it will be another chapter in SNX’s long history of redesigns.

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