Buying SNX and holding
Is there a disadvantage to buying SYX and holding? Inflation?
Posted Oct 21, 2019, 1:22 PM UTC
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I minted synths the a few days ago and have no rewards yet - am I doing something wrong?
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rewards are claimed every 7 days (wednesday)
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but in the meanwhile the counter doesn't go up or anything? It still says 0 rewards everywhere
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You will not see anything until rewards can be claimed which is on wednesdays
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thanks for clearing that up dude
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The Synthetix system incentivizes active participation in the system be rewarding, through inflation, SNX holders that stake their SNX.
If by "holding" you mean holding but not staking, I do not recommend it. Your share of the SNX pool will decrease.
By staking you mean minting synths?
yes.
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what if you hold a very large bag of SNX currently, but are not staked, example; 10k USD worth that you purchased at .50 USD. If you stake this bag you will be locked away for 1 yr, lets say the price goes up to 1.00 USD in 6 month after staking. You would be locked out from selling them a taking profit, is that correct in this scenario? Due to your bag being staked for 1 yr.
That is not correct. Only new SNX rewards are locked for a year. Your initial amount is not locked. You can sell that anytime you want.
thanks for the clarification