The Synthetify Token (SNY) is central to the Synthetify platform, a decentralised exchange on the Solana blockchain for synthetic assets. SNY enables users to engage with the protocol, primarily by staking it as collateral to create synthetic assets. It also shapes the trading environment, allowing trades without direct counterparts, with protocol stakers earning exchange fees and inflation rewards. The platform has a fixed 0.3% trade fee, with potential discounts. SNY holders participate in governance decisions, influencing the platform's direction. Staking SNY rewards users with fees proportional to their liquidity contribution and trading fee discounts. Synthetify operates 24/7, supports Phantom and Sollet wallets, and champions decentralised finance principles, omitting traditional account setups and KYC. Founded by Norbert Bodziony, Synthetify reflects a commitment to decentralisation and user empowerment in digital asset trading.
