Where and How to Lend Synthetix Network (SNX)

Introduction

Lending Synthetix Network can be a great option for those who want to hold SNX but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Acquire Synthetix Network (SNX) Tokens

   To be able to lend Synthetix Network, you need to have it. To get Synthetix Network, you’ll have to buy it. You can pick from these popular exchanges.

   Platform	Coin	Price
   Nexo	Synthetix Network (SNX)	1.8
   M2	Synthetix Network (SNX)	1.8
   Uphold	Synthetix Network (SNX)	1.8
   Kraken	Synthetix Network (SNX)	1.8
   OKX	Synthetix Network (SNX)	1.83
   YouHodler	Synthetix Network (SNX)	1.8

   See all 36 prices

2. 2. Choose a Synthetix Network Lender

   Once you have SNX, you’ll need to choose a Synthetix Network lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   YouHodler	Synthetix Network (SNX)	Up to 12 APY
   Bitget	Synthetix Network (SNX)	Up to 1.5 APY
   Aave	Synthetix Network (SNX)	Up to 0.23 APY
   Kucoin	Synthetix Network (SNX)	Up to 0.1 APY

   See all 6 borrowing rates

3. 3. Lend Your Synthetix Network

   Once you’ve chosen a platform to lend your Synthetix Network, transfer your Synthetix Network into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly or monthly.

4. 4. Earn Interest

   Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.