The Synthetix Network Token is a unit of currency used within the Synthetix cryptocurrency software. The network token is defined as a Unit of Currency that can be sold in the Crypto Market. The system takes the values of a multitude of Crypto Currencies and is designed to help protect the currency from the instability of falling prices of these particular currencies.
Using the Protocol in the Synthetix network, we are able to create different types of tokens. First, we are able to offer different types of each service that we provide within the network. The current focus of this program is to offer the freedom of a standard currency for consumers to purchase digital goods and services on the Synthetix marketplace. For example, one could create a new coin that would allow for discounts to be offered to their users. Many businesses will opt to have this coin used in order to be able to offer coupons, reduced prices, and even discounted purchases to their customers.
The network token also allows for this type of coupon and discount program. This is a function that many stores and retailers will use to entice their customers. These stores will then be able to make more money because of the actual usage of the coupons by their customers. This will also prevent them from losing money on the sale of their items.