What is sUSD?

sUSD is a synthetic USD token created by staking collateral such as Synthetix Network Token (SNX) or ETH in Synthetix, a decentralized synthetic asset issuance protocol built on Ethereum. Synthetix requires all synthetic tokens, or synths for short, be backed at a collateralization ratio (C-Ratio) of 750%. Stakers need to manage their own ratio to be above this figure, which they can do by burning synths to increase their ratio or minting synths to reduce it. If they do this, they can collect weekly rewards from the Synthetix protocol.

How to use sUSD?

sUSD can be minted or burned via Synthetix’s Mintr interface. sUSD can be stored, traded, or using wallets that support ERC-20 tokens. sUSD can be utilized in many DeFi platforms and services such as decentralized lending and exchanges.