Andromeda Release: Dive into the Details
Andromeda Release: Dive into the Details
The upcoming Andromeda Release, scheduled for December, will bring Core V3 and Perps V3, integration of $USDC as collateral, and launch on @BuildOnBase. Perps V3 will introduce cross-margin trading, multi-collateral support, and improved liquidation processes. The release will also serve as an experimental ground for testing new features and insights for the future of multi-chain Synthetix.
Exciting news! Perps V3 is on the horizon, set to build upon the remarkable success of V2. Get ready for its upcoming launch on @BuildOnBase via the Andromeda Release. V2 brought a paradigm shift to onchain perps, focusing on risk management and introducing now-standard features
🌌 Dive into the Details of the Upcoming Andromeda Release! 🔍 Our explainer blog post offers an insight into the Andromeda Release, tentatively scheduled for December. This pivotal update will see the release of Core V3 and Perps V3, the integration of $USDC as a new collateral
Infinex Extends sUSD Deposit Rewards Program with Weekly OP Token Distribution
Infinex has extended its sUSD deposit rewards program running from July 4th to August 15th, 2025. Key features: - Weekly distribution of 12,000 OP tokens to eligible sUSD depositors - Weekly raffle with 5 winners: * 1st & 2nd: Infinex Patron NFTs * 3rd: 1 ETH * 4th: 2,000 SNX * 5th: 1,000 SNX Minimum deposit: 1,000 sUSD Each 1,000 sUSD deposited = 1 raffle entry [Start earning on Infinex](https://infinex.xyz/)
Synthetix Liquidations Resume - 420 Pool Migration Update
Synthetix is re-enabling liquidations for existing stakers following the 420 Pool migration launch. Key updates: - Stakers with c-ratio below 160% are now at risk of liquidation - The 420 Pool offers complete debt forgiveness for migrators - Over 100m SNX already deposited in first day - New features include: * No liquidation risk * Protocol-managed sUSD liquidity * SNX-backed yield generation * Partnership with Ethena Labs for USDe minting Non-stakers will soon be able to participate with new incentives. A cross-chain Swap & Stake feature is coming to support deposits from multiple EVM chains. [Migrate to 420 Pool](https://420.synthetix.io/) [Read Documentation](https://docs.synthetix.io/welcome-to-synthetix-user-docs/snx-staking/deposit-snx-to-the-420-pool)
Synthetix Launches Redesigned Website with Enhanced Features
Synthetix has unveiled a comprehensive website redesign that consolidates its product ecosystem into a single hub at synthetix.io. Key updates include: - Access to 90+ Perps markets - Expanded liquidity opportunities - New leveraged tokens for 10+ assets The enhanced stats page now displays: - Real-time APRs and fees data - Liquidity rewards metrics - Perps volume analytics - SNX token performance The governance structure aligns with Vision 2025, featuring the Spartan Council with 6-month election terms and a 4/7 approval threshold. Visit synthetix.io to explore the new interface.
Synthetix Launches Multi-collateral Perps with tBTC Support
Synthetix has launched Multi-collateral Perpetuals on Kwenta (Arbitrum network) with tBTC as the primary Bitcoin collateral option. Key features: - 81 new perpetual markets added - 4 collateral options including tBTC, ETH, USDe, and USDx - tBTC integration offers 1:1 BTC backing with permissionless minting - No KYC required for Bitcoin bridging Limited-time incentives: - Reduced taker fees (5 bps) for 2 weeks - 20% of trading fees distributed to LPs for 1 month - Kwenta points program active for traders Trading now live at kwenta.io
Synthetix Reboot Approved by Community Vote
Synthetix's SR-2 proposal has passed with 99.94% approval, initiating a significant reboot of the protocol. Key changes include: - SNX token redesign - Operationalized SNAX Chain - Restarting Synth Teleporters development - Increased focus on business development and marketing - Perps V3 expansion and V2X deprecation - V3 Perp multichain proliferation Governance will shift to a single 7-member Spartan Council, replacing the previous three-council structure. New core working groups will be formed, and a foundation will be established to handle legal and operational matters. These changes aim to make Synthetix more efficient, aligned, and focused for both short and long-term goals.