Borrow against SNX
Teller pools accept SNX as collateral on Ethereum at up to 22.2% LTV, lending USDC at 25% APR, with a fixed repayment rather than a share of any debt pool. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| SNX | Ethereum | 22.2% | 25% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
One obligation instead of two
Staking SNX inside Synthetix is not a passive act: stakers back the synths the protocol issues and carry a share of the system debt, which moves with what the rest of the market has minted. That is a real obligation, and it is open-ended.
A Teller loan against a free SNX balance gives you dollars without adding a second one of those. Pools take it at 22.2% LTV and 25% APR, and what you owe is a fixed number on a fixed date rather than a share of anything.
The plain balance only
The token is at 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f on Ethereum. Staked SNX is committed to the debt pool, and escrowed SNX from rewards is subject to its own vesting schedule. Neither can back a loan, so post a liquid balance.
What the LTV means here
LTV is the share of your collateral’s value the pool will lend. At 22.2%, a thousand dollars of SNX supports a loan of about $222.
SNX tracks the state of the debt pool as well as the market, so its price has more inputs than a plain governance token. The operator sets the LTV against that.
The loan
Deposit SNX, receive USDC, repay or roll on the due date. Rate, LTV and the roll window lock when the loan opens and the protocol holds the collateral until you close it. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. Miss the due date and the collateral is forfeit. Mainnet gas applies across the approval and the borrow.
More protocol tokens on the DeFi collateral page.
Frequently asked questions
Staking makes you a backer of the protocol's synths with a share of system debt that moves with what everyone else has minted. A Teller loan is a fixed number owed on a fixed date and nothing else.
No. Staked SNX is committed to the debt pool and escrowed SNX has its own vesting schedule. Deposit a liquid balance.
LTV is the share of your collateral's value the pool will lend. SNX tracks the state of the debt pool as well as the market, so its price has more inputs than a plain governance token, and the operator sets the LTV against that.
Nothing happens to the loan. There is no liquidation threshold during the term, so your obligation on the due date is unchanged.
USDC on Ethereum, delivered to the wallet that signed the borrow.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.