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Synthetix Network Token (SNX) is the native cryptocurrency of the Synthetix protocol, a decentralized derivatives trading platform that allows users to create and trade synthetic assets representing real-world commodities, currencies, and cryptocurrencies. SNX token holders stake their tokens as collateral to generate synthetic assets and earn trading fees and rewards from the protocol, creating an incentive mechanism that secures the network. What distinguishes Synthetix is its ability to enable zero-slippage trading of virtually any asset on-chain through its innovative debt pool design, where traders trade against the protocol rather than against individual counterparties.