Details about Aave SNX v1 cryptocurrency
Aave SNX v1
ASNX
Unknown for now
€0
84,622
14.922
Unknown
https://aave.com/atokens
@aaveaave
5188980x
€13854600
Aave SNX v1 price charts
ASNX exchanges
Aave SNX v1, the crypto
Aave SNX v1 (ASNX) is a cryptocurrency token that represents a share of a collateralized debt position (CDP) in the Aave protocol. It is the result of the collaboration between Aave and Synthetix to combine the lending and borrowing platform of Aave with the synthetic asset issuance of Synthetix.
The point
The main point of Aave SNX v1 (ASNX) is to allow users to borrow funds against their Synthetix positions without having to sell their SNX tokens. This enables them to take advantage of the price appreciation of SNX tokens while also accessing liquidity when needed.
The problem
Aave SNX v1 (ASNX) tries to solve the problem of illiquidity for SNX holders who want to access liquidity without selling their SNX tokens. By using their SNX tokens as collateral, they can borrow funds on the Aave protocol while still retaining ownership of their SNX tokens and benefiting from their price appreciation.
Compare ASNX and BTC performance
| Timeframe | ASNX | BTC |
|---|---|---|
| 1h change | 0.270424 % | 0.77796 % |
| 24h change | -6.13 % | -1.20569 % |
| 7 day change | 1.39 % | 0.0916028 % |
| 14 day change | -27.25 % | -8.1602 % |
| 30 day change | -43.44 % | -7.83751 % |
| 200 day change | 41.42 % | 127.067 % |
| Year change | 21.77 % | 139.895 % |