Synthetix Highlights Market Undervaluation and BASE Launch Implications
Synthetix Highlights Market Undervaluation and BASE Launch Implications
馃く Undervalued DeFi Gem?
Synthetix, a decentralized finance protocol, retweeted a post highlighting that the market is not fully valuing the current revenue generated by the platform without external incentives. The tweet also mentioned the implications of the upcoming BASE launch, which will introduce on-chain perpetual contracts, a new financial primitive enabling the creation of synthetic assets and derivatives based on real-world assets on the blockchain.
The market is not fully pricing in the current revenue (based on zero external incentives) and the implications of the BASE launch On chain perps are real
Another week, another $1.12M burned in fees! Synthetix Perps on @Optimism comprised 80% of all weekly fees, with the other 20% consisting of L1 spot synths & L1 loan paydown. This week's $1.12M in sUSD went to $SNX stakers, reducing debt.
**Degen Spartan Returns** for $1M Synthetix Trading Competition
**Degen Spartan officially ends retirement** to compete in Synthetix's mainnet trading competition. The legendary trader will face **99 other competitors** for a chance at the **$1,000,000 prize pool**. - Competition launches **October 20** - Features synthetic asset trading on mainnet - Spartan previously transitioned to pump.fun streaming This marks a significant return for one of crypto's most recognizable trading personalities.
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)
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.