What is Synthetix (sUSD)?
There are two kinds of tokens in the Synthetix Network: SNX, the Synthetix network token; and Synths such as sUSD, the synthetic assets.
SNX holders lock their SNX as collateral to back Synths. Synths are then minted into the market, where they can be used for a variety of purposes including trading and remittance. Circulating Synths generate transaction fees that are distributed to SNX holders, rewarding them for providing on-chain synthetic assets.