24h Change-3.67%
All Time HighFeb 14, 2021$28.53
All Time LowJan 6, 2019$0.035
Market Cap$89.96m
Fully Diluted Valuation$90.07m
Circ. Supply344.52m SNX
Max Supply344.94m SNX
Outstanding FDV$90.18m
CEX Volume$6.04m
DEX Volume$2.2m
Uniswap V3 · Ethereum$1.85m
Velodrome V2 · Optimism$255,697
Uniswap V2 · Ethereum$250,988
Aerodrome V1 · Base$113,543
SushiSwap · Ethereum$74,371
Balancer V2 · Ethereum$23,198
Majors$23,413
Stablecoins$944,828
Own Tokens$364,511
Others$585,514
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $5.92K | $6.75K | $3.04K | $391.44K | $505.21K | $1.67M | $6.30M | $2.46M | $3.52M | $9.78M | $10.08M | $8.52M | $8.95M | $6.23M | $1.18M | $13.52M | $10.05M | $529.18K | $103.57K |
| Trading Fees | $5.92K | ||||||||||||||||||
Cost of Revenue | $0 | $0 | $0 | $609 | $216.55K | $447.20K | $297.33K | $349.77K | $399.91K | $84.45K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Gross Profit | $5.92K | $6.75K | $3.04K | $390.83K | $288.65K | $1.22M | $6M | $2.11M | $3.12M | $9.70M | $10.08M | $8.52M | $8.95M | $6.23M | $1.18M | $13.52M | $10.05M | $529.18K | $103.57K |
| Trading Fees To Protocol | $5.92K | ||||||||||||||||||
Incentives | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Earnings | $5.92K | $6.75K | $3.04K | $390.83K | $288.65K | $1.22M | $6M | $2.11M | $3.12M | $9.70M | $10.08M | $8.52M | $8.95M | $6.23M | $1.18M | $13.52M | $10.05M | $529.18K | $103.57K |
Token Holder Net Income | $0 | $6.75K | $3.04K | $390.83K | $288.65K | $1.22M | $6M | $2.11M | $3.12M | $9.70M | $10.08M | $8.52M | $8.95M | $6.23M | $1.18M | $13.52M | $10.05M | $529.18K | $103.57K |
How much debt can be issued against SNX as collateral across lending protocols.
Maximum possible exposure to SNX
$224,182
$0 (max additional borrows against SNX) + $224,182 (bad debt if SNX was hacked now)
Aave V3
$224,182 at-risk exposure = $224,182 bad debt if hacked + $0 additional borrowable against SNX
Showing collateral exposure for SNX on Ethereum. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for SNX as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
SNX0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f | $0 | $224,182 |
Risk-management actions published about SNX by tracked risk managers and governance contributors, newest first.
Synthetix governance token SNX was eyed for acquisition in a potential bailout deal to gain protocol integration, but the draft proposal was withdrawn before any negotiations advanced.
Supply caps increased on V3 Ethereum and Arbitrum based on Gauntlet’s risk simulations indicating sufficient liquidity and stable market conditions.
Due to unique liquidity characteristics in the SNX market, the portal recommends baseline position size at 1/6th of the 99th percentile at 100bps spread, with doubled initial and maintenance margin fractions for added conservatism.
SNX added to Ethereum Aave V3 to broaden asset availability for users, aiming to boost Aave's overall lending volume and revenue.
SNX's restrictive borrow factors currently make borrowing unviable despite its role in longer-tailed assets; raising them improves capital efficiency for borrowers and shorts. Chainlink oracles reduce oracle manipulation risks, maintaining Euler's overall risk profile.
V2 ETH market utilization hit 100% amid FTX collapse stress, prompting analysis of protocol performance but no immediate parameter changes beyond monitoring.
Recent market events and liquidity contraction have heightened volatility risks for SNX, prompting a disable of borrowing to reduce exposure while allowing deposits.
SNX's liquidity constraints make it prone to short squeeze attacks, as evidenced by recent CRV events, threatening protocol solvency if not restricted.
SNX's ranking is bolstered by V2 utilization and liquidity metrics that proxy for absorption of liquidation flows, fitting the broader launch criteria.
SNX stakers bear the risk of adverse selection from atomic swaps that alter the debt pool composition, potentially dropping their collateralization ratio below 150% during market turmoil or directionality. They must actively hedge exposures and maintain C-ratios through incentives and liquidation mechanisms, with historical oracle frontrunning risks now mitigated by hybrid pricing.
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Tracking 9 pools, average APY 3.34%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSUSD-SNX1% | $991,721 | 10.75% | 10.75% | 19.65% | |||||
| open in new tabSNX-WETH | $111,985 | 3.96% | 3.96% | 11.88% | |||||
| open in new tabSNX | $108,133 | 0% | 0% | 0% | |||||
| open in new tabWETH-SNX0.3% | $90,089 | 5.33% | 5.33% | 13.36% | |||||
| open in new tabUSDC-SNX-GRT-WETH | $39,299 | 0.26% | 0.26% | 242% | |||||
| open in new tabSNX-WETH | $31,841 | 1.78% | 1.78% | 8.18% | |||||
| open in new tabUSDC-SNXvolatile - 0.27% | $22,777 | 2.87% | 2.87% | 2.95% | |||||
| open in new tabSNX-WETH0.3% | $18,592 | 1.71% | 1.71% | 3.97% | |||||
| open in new tabUSDC-SNX1% | $12,396 | 0.08% | 0.08% | 0.07% |
