Please confirm/correct/critique my understanding of how to take a conservative approach to SNX
Very new to Defi, just trying to get my bearings before I piss away and/or make millions! This seems like the lower-risk way to participate in Synthetics, please let me know if I have it wrong:
Buy SNX. Stake it with Mintr. Use the sUSD to buy a portfolio that matches the global synth allocation. Collect rewards.
Ideally the rewards compensate for the gas costs, and I net positive. I'm not really long/short on anything, because I am mimicking the global synth allocation. I am exposed to price fluctuations in SNX, but other than that I can just sit back and let your SNX balance grow.
Is this a fair approach? I love the Synthetix concept, I want to take part and support it's growth. I am bullish on SNX on the long term. I'm happy to accept modest gains, providing liquidity for others to make shittons more money with more risk. I'll just be the boat in the rising tide.
Thoughts? And thanks!
We've detected that Synthetix Network Token $SNX was just listed on Gemini! View on Gemini: https://t.co/WVPIjDTSoo https://t.co/EcooA4WgWd— Crypto Exchange Listing Bot (@crypto_alerting) September 25...