Namaste Tribe! Day 3 of DeFi Week begins with Synthetix Network Token (SNX) listing on WazirX, and you will be able to buy, sell, trade SNX in our USDT market. We’re also running a Highest Trader Kaun tomorrow, 15th July 2020.
What about SNX Deposits & Withdrawals?
SNX is a part of our Rapid Listing Initiative. Hence, we will start SNX trading without enabling its deposits and withdrawals. What does it mean for you?
- Deposits — You won’t be able to deposit SNX from another wallet to WazirX
- Trading — You will be able to buy, sell, trade SNX in our USDT market. When you buy SNX, it will appear in your “Funds”
- Withdrawals — You won’t be able to withdraw SNX from your WazirX wallet. You can, however, sell it in the USDT market
Don’t worry, you’ll be able to deposit/withdraw SNX on WazirX very soon. Read more about the Rapid Listing Initiative here.
How can I participate in the contest and win?
Winners will be decided on the basis of the volume and number of SNX traded in our USDT market. Here’s how to qualify:
For volume of trades: Minimum trade volume of ₹5,000 worth of SNX
For number of trades: Minimum 50 trades
When is the contest?
Wednesday, 15th July: 11 AM — 9 PM IST
What’s the bounty?
For volume of trades:
- For the highest volume of trades: 130.63 SNX (worth ₹25,000)
- For the 2nd highest volume of trades: 83.60 SNX (worth ₹16,000)
- For the 3rd highest volume of trades: 62.70 SNX (worth ₹12,000)
- For each of the next top 17 highest volume of trades: 5.22 SNX (worth ₹1,000)
For the number of trades:
- For the highest number of trades: 47.02 SNX (worth ₹9,000)
- For the 2nd highest number of trades: 26.12 SNX (worth ₹5,000)
- For the 3rd highest number of trades: 12.54 SNX (worth ₹2,400)
- For each of the next top 17 highest number of trades: 4.18 SNX (worth ₹800)
Note: You can qualify for only one category of bounty (volume or number) whichever has a higher value. For example, if you’re the 2nd highest trader in terms of number, and 2nd highest in terms of volume, then you’ll get bounty for the “volume”. Also, self-trading is not allowed.
Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets. Each synthetic asset (or Synth) is an ERC20 token which tracks the price of an external asset; for example, each sUSD token tracks the price of the US dollar (and unlike the other synthetic assets, is fixed at a wide variety of Synths exists within Synthetix, including fiat currencies, cryptocurrencies, commodities, and inverse indexes. In principle, the system can support any asset with a clear price and provides on-chain exposure to an unlimited range of real-world assets. The protocol will enable a variety of trading features including binary options, futures, and more.
- Trading price (past 24 hrs): $2.49 USD / 191.38 INR
- Global Market Cap (past 24 hrs): $215,176,190 USD
- Global Trading Volume (past 24 hrs): $23,925,948 USD
- Circulating Supply: 86,773,183 SNX
- Total Supply: 190,075,446 SNX
Happy Trading!Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.