What makes SNX Token special?
The SNX token is pivotal to the Synthetix network, a decentralized finance platform that facilitates the creation of synthetic assets. What makes SNX special is its dual role in both staking and governance within the Synthetix system. Staking SNX allows users to generate synthetic assets, which are collateral-backed tokens that can represent real-world assets like currencies, commodities, or stocks. Additionally, SNX holders have governance rights, which allow them to vote on proposals that shape the future direction of the protocol, enhancing the decentralized nature of the network.