EIP-4844 Goes Live on Optimism, Drastically Reducing Gas Costs for Synthetix Perpetuals
EIP-4844 Goes Live on Optimism, Drastically Reducing Gas Costs for Synthetix Perpetuals
🚀 Gas Fees Slashed!
EIP-4844 has been successfully implemented on the Optimism network, resulting in a significant reduction in gas costs for Synthetix Perpetuals transactions. The gas fees for these transactions have dropped from around $3 to just $0.14, a remarkable decrease. This development is expected to facilitate the onboarding of new users to the Ethereum ecosystem and contribute to its scalability. However, it appears that some users may need to adjust their bots to account for the correct gas fee of $0.0069, which will dynamically adjust based on blob pricing changes. The Synthetix community is celebrating this milestone, as trading Synthetix Perpetuals on Optimism and other networks is now much more affordable, with transactions costing around $0.06 instead of $1.5.
EIP-4844 is now live on @Optimism, slashing Synthetix Perps gas costs from $3 to just 0.14 cents! Congrats to everyone who made this happen. This is how we'll onboard the next wave of users onchain and scale Ethereum!
Trading Synthetix Perps on @Optimism & @base is about to become way more affordable with EIP-4844. Check out this user who paid $1.5 for a perps transaction – soon it'll cost just ~6 cents! Try inputting one of your trade transactions to see the savings! welovetheblobs.xyz
It looks like this Perps Keeper transaction overpaid. Users need to adjust their bots. The correct gas fee is $0.0069, which will dynamically adjust as blob pricing changes. Less than 1 cent to trade perps onchain.
EIP-4844 is now live on @Optimism, slashing Synthetix Perps gas costs from $3 to just 0.14 cents! Congrats to everyone who made this happen. This is how we'll onboard the next wave of users onchain and scale Ethereum!
🎯 Competition Wallets Revealed
**Synthetix Trading Competition** eligibility list is now live with 100 confirmed participants competing for a **$1M top prize**. **Key Details:** - Competition starts **October 20 at 23:59 UTC** - Full wallet list available in [Google Sheets](https://docs.google.com/spreadsheets/d/1G0dCwVA2e0LXVnUZPirevAC2n_0Yhw5WuFNqV6D30oQ/edit?usp=sharing) - Eligible traders must contact [Synthetix Help Center](https://support.synthetix.io/) for details **Competition Structure:** - 50 invite-only spots for top crypto traders - 35 spots for pre-depositors (top 20 sUSD + top 10 sUSDe depositors) - 15 spots for Synthetix community members This marks Synthetix's return to **Ethereum Mainnet** with the first native perp DEX, featuring gasless trading and private order data. **Join the discussion:** - [Discord](https://discord.gg/synthetix) - [Telegram](https://t.me/synthetix_dao)
🥊 Round Two Begins
**Synthetix Mainnet Trading Competition Round 2** kicks off with a high-stakes rematch between prominent crypto traders @kaiynne and @crypto_bitlord7. The competition features: - **100 top crypto traders** competing head-to-head - **$1,000,000 top prize** up for grabs - **Leverage trading** on Synthetix's mainnet platform This marks the second face-off between these two well-known traders, building on the momentum from their previous competition. The event showcases Synthetix's synthetic asset trading capabilities while bringing together some of crypto Twitter's most recognized trading personalities. *Follow the competition to see who claims the million-dollar prize.*
Chinese CT Trader Joins $1M Synthetix Competition
**Synthetix reveals another competitor** for their upcoming mainnet trading competition with a **$1,000,000 top prize**. A prominent figure from the **Chinese crypto Twitter community** has secured one of the 100 spots in the high-stakes trading battle. The competition structure includes: - **50 invite-only spots** for top traders - **35 spots for pre-depositors** into sUSD/sUSDe vaults - **15 spots for Kwenta point holders** This follows previous announcements of a **semi-retired trading legend** turned pump.fun streamer also joining the competition. The event will **battle-test the first perp DEX on Ethereum**, with pre-deposit winners selected October 13th at 00:00 UTC. [Pre-deposit here](https://predeposit.synthetix.io/)
Synthetix Mainnet Multi-Collateral Margin Launch
**Synthetix Mainnet** is launching multi-collateral margin trading, allowing users to deposit portfolios of assets as collateral while keeping them productive. **Three supported collateral types:** - **sUSDe** - Ethena's yield-bearing synthetic USD stablecoin - **wstETH** - Lido's liquid staked ETH - **cbBTC** - Coinbase's Wrapped Bitcoin **Key benefits:** - Trade without selling underlying assets - Retain upside potential and yield generation - Improved capital efficiency - Lower capital gains implications The architecture supports any ERC-20 token with sufficient Ethereum liquidity, opening opportunities for partnerships with core Ethereum protocols and positioning Synthetix perps as a critical tool in the ETH ecosystem. Read more: [Multi-Collateral Margin Blog](https://blog.synthetix.io/multi-collateral-margin-on-synthetix-mainnet/)
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)