xSNX Fund Makes Staking Synthetix Easier

xSNX, a project supported by the Synthetix (SNX) grantsDAO, was unveiled and detailed on August 18 via a blog post.

xSNx accrues staking returns and trading fees to the token’s net value
It avoids the need to handle the weekly processes of minting, claiming, hedging and managing collateralization ratio
Also features simplified tax planning and accounting
SNX staking position can also be represented as liquid assets that can be added to liquidity pools or transferred to wallets