Crypto Spotlight: Have you met SNX & ZRX yet?

UMA, OMG, BAT, ZRX, SNX and FTT are now available in the Wirex app! You can buy and exchange our latest arrivals at exclusive OTC rates.

But that’s not all! You can also earn €5 in WXT when you buy €50 worth of these tokens in the next 7 days!

Phew, that’s a lot of new crypto on the scene. Let’s talk about SNX & ZRX .

Say hello to SNX

Meet SNX. It was founded in 2018 by Kain Warwick and is one of several DeFi cryptocurrencies on the Ethereum blockchain. SNX allows users to mint new crypto assets that imitate both crypto and traditional assets.

What does it do?

SNX carries out its services purely through code, meaning no financial intermediaries are needed. It uses a process called collateralisation in order to generate new assets. Users will need to purchase the SNX cryptocurrency in order to create and collateralise an asset, known as “synths”.

Say hello to ZRX

Meet ZRX. ZRX was founded by Will Warren and Amir Bandeali in 2016. It aims to allow users to create custom crypto asset markets without the need for financial intermediaries.

What does it do?

ZRX is one of many DeFi protocols on the Ethereum blockchain. Users can use this protocol to tokenise assets, as well as buy and sell tokens running on Ethereum. There are two types of users in a ZRX market:

Makers – users who provide liquidity to the order book. They place orders that don’t instantly trade. Instead, they wait for it to be matched.

Takers – take liquidity from the order book and place orders that are matched with existing ones.

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Crypto Spotlight SNX & ZRX July EEA & APAC Terms & Conditions
The following terms and conditions (“Terms”) shall apply to the Crypto Spotlight SNX & ZRX Promotion (the “Promotion”) which is offered by Wirex Ireland Limited in the European Economic Area (“EEA”) and Wirex Pte Ltd in the Asia Pacific (“APAC”) (each separately referred to as “Wirex”):
Timescale
1. The Promotion will run from 00:01AM (BST) on 12 July 2021 until 23:59 (BST) on 18 July 2021 (the “Promotion Period”).
Eligibility
2. This Promotion is open to verified users of the Wirex Service (as defined by the applicable Wirex terms & conditions: Wirex | Making currencies equal and available to everyone) resident in the EEA and APAC regions (“Eligible Participants”). For the avoidance of doubt, no other users of the Wirex Service are eligible for this Promotion.
3. The Promotion applies to Eligible Participants who complete a SNX or ZRX cryptocurrency purchase with a minimum exchange value of EUR 50 (in the EEA) and USD 50 (in APAC) via debit or credit card in the Wirex App during the Promotion Period (“Qualifying Transaction”).
4. Any Eligible Participants who complete a Qualifying Transaction prior to or after the Promotion Period will not be counted.
5. Qualifying Transactions are limited to one per customer during the Promotion Period.
Reward
6. The Reward will be paid to all Eligible Participants who make a Qualifying Transaction within the Promotion Period (“Qualifying Participants”).
7. The Reward will be paid to Qualifying Participants’ accounts within 30 Working Days of the end of the Promotion Period. Once a Qualifying Participant has received the Reward, it can be converted to traditional fiat currency through the Wirex Service.
General
8. “EUR” means Euro.
9. “Reward” means the WXT equivalent of EUR 5 (in the EEA) and USD 5 (in APAC) which will be calculated by an exchange rate determined by Wirex from time to time at its absolute discretion. The Reward may be amended or cancelled by Wirex at any time.
10. “SNX” means the Synthetix token cryptocurrency available through the Wirex App.
11. “ZRX” means the 0x token cryptocurrency available through the Wirex App.
12. “USD” means United States Dollar.
13. “Working Days” means Monday to Friday, excluding weekends and any public holidays when the banks of England are closed for business.
14. “Wirex App” means the Wirex mobile application which allows you to buy, store, exchange and spend a wide variety of traditional and digital currencies.
15. Subject to applicable law, Wirex will not under any circumstances be liable to compensate Wirex users, Eligible Participants, Qualifying Participants or other third parties for any losses or damages occurring as a result of their participation or engagement with this Promotion.
16. Wirex may, at its sole discretion, revise any of these Terms or terminate this Promotion at any time without prior notice to Wirex users, Eligible Participants, Qualifying Participants or other third parties.
17. This Promotion is launched by Wirex independently and there are no partnerships between Wirex and any merchant or other third parties relating to this Promotion.
18. The Terms of this Promotion are governed by the laws of England and the parties irrevocably agree that the courts of England shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this Promotion.
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