/biz/ - Business & Finance

I decided to buy some SNX a little while ago, figured they sponsor half of the link API-s so I should get into it. But I do not get the minting aspect. I've read trough https://synthetix.community/docs/staking-snx-overview, their wiki, but I still don't feel like I get it. It says minting all the synth and not doing anything else is effectively a short position on the global portfolio. Is this portfolio the 'total synths' from the dashboard. If so it's a long BTC, ETH, LINK and short XRP postition. This does not look like a portfolio I would short. Also I've not received nearly enough sUSD to mirror this portfolio.

Daily reminder there were LINK marines dumb enough to sell their LINK to fomo into this at its ATH. If you sold your LINK take a good hard long look at yourself in the mirror anon...

ChainLink will continue to dump because it has almost no network usage. You’re only hope right now is SNX. Welcome to the chicken and the egg problem. Time to stack up, boys.

3k SNX is suicide insurance

Or should I buy if it reaches ATH again?

Is Synthetix legit?

I bought 200 worth just cause their website looked good, but I don't know if I just got suckered in.

>moons synthetically

this thing seems like it would possibly be cool but even now with eth not that clogged the transaction fees are off putting