Synthetix Ecosystem Update: V3 Deployment, Multi-Chain Expansion, and Future Considerations
Synthetix Ecosystem Update: V3 Deployment, Multi-Chain Expansion, and Future Considerations
🔥 Synthetix Unleashed, Brace Yourself!
Synthetix has deployed its V3 upgrade, enabling permissionless liquidity pools and markets. The Dencun upgrade has reduced gas costs, making perpetual contracts cheaper. Synthetix is also expanding to multiple chains to scale fees. Non-native collateral liquidity is being introduced for reliable liquidity. Early metrics show Synthetix recently had $20 million in daily trading volume on Base, even with constrained liquidity caps. The V3 upgrade includes new features like USDC collateral, native cross-margin, MEV-resistant liquidations, and NFT-based accounts. Governance will increase liquidity and open interest caps as liquidity grows. Integrations from Kwenta, Polynomial, and Infinex enhance the user experience. Future considerations include new collateral types, cross-chain deployments, an order book DEX on Optimism, and catering to L1 traders and Ethena.
.@synthetix_io V3 on @base just saw its first day of $10M+ volume (still in beta with only two markets enabled) Ethereum’s Dencun upgrade dropped gas fees to pennies this week Centralized exchanges pivoting to ramps soon?
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Ethereum Mainnet Launch Approaching
The long-anticipated Ethereum Mainnet deployment is drawing closer, with significant implications for DeFi users and developers. - Project teams are finalizing preparations for migration from sidechains - Users should begin planning their transition strategies - Mainnet integration will enable enhanced security and scalability *Key Considerations:* - Review current sidechain positions - Monitor official announcements for specific migration dates - Prepare for potential network adjustments during transition Stay informed about upcoming developments to ensure a smooth transition to Mainnet.
Synthetix Mainnet Bug Fix Update
Synthetix has deployed a critical mainnet update addressing previously reported issues from the June 4th launch. The fix resolves stability concerns that emerged during the initial rollout. Key updates: - System stability improvements - Enhanced protocol security measures - Performance optimizations The development team confirmed all systems are now operating as intended. Users can resume normal protocol interactions.
Synthetix Launches New Mainnet Exchange with SNX Rewards Program
Synthetix unveils a new onchain exchange combining Ethereum L1 security with CEX-like performance. Key features: - Ethereum mainnet custody & settlement - High-performance offchain matching - Institutional-grade APIs - No bridge/sequencer risk A points program launches with SNX rewards for deposits, trading, and referrals. 500 exclusive invite codes will be distributed to early depositors and 420 pool stakers. Join the community: - Discord: [Chat](https://discord.gg/synthetix) - Telegram: [Updates](https://t.me/+v80TVt0BJN80Y2Yx)
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.