Synthetix L1 perpetual will be cheapest place to long $ETH on chain
Synthetix L1 perpetual will be cheapest place to long $ETH on chain
Synthetix's L1 perpetual will become the most cost-effective option for going long on $ETH on-chain, with minimal gas fees. The platform is expected to appeal strongly to larger investors, who will encounter constant pressure to go short from eTHENA Labs to maintain affordability, thus keeping order fees competitive with leading centralized exchanges (CEX).
The @synthetix_io L1 perpetual will be the cheapest place to long $ETH on chain, barring gas fees It’ll be so damn attractive for whales to long Constant short pressure from @ethena_labs to keep funding cheap and the order fees would be on par with cheapest CEX
Synthetix Consolidates on Ethereum Mainnet with New Curve Pool
Synthetix continues streamlining operations by cleaning up legacy systems and L2 deployments. Key updates: - Legacy Curve 4pool deprecated - New Curve pool (sUSDe/sUSD) launched on Ethereum Mainnet - Liquidity successfully migrated from 4pool to new sUSDe pool - Part of broader strategy to consolidate on mainnet This aligns with Synthetix's earlier announcement to sunset L2 operations on Base and Arbitrum, focusing entirely on Ethereum mainnet. A new CLOB Perp launch is planned for later this year. Visit the new pool: [Curve Finance Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-371/deposit/)
Synthetix Sunsets Leveraged Tokens on Optimism - Important Deadlines
Synthetix is discontinuing leveraged tokens on Optimism, with key dates for token holders: - **Minting Disabled**: New token minting stopped August 4 - **Redemption Window**: August 4-11 for manual token redemption - **Final Liquidation**: August 11 - remaining positions automatically liquidated with airdrops following *Important Actions Required*: - Redeem tokens before August 11 for immediate fund access - No action needed for Optimism perps traders - Automatic liquidation and airdrops for non-redeemed positions This continues Synthetix's broader L2 retirement strategy, following earlier closures on Base and Arbitrum. [Join Discord](http://discord.gg/synthetix) or [Telegram](http://t.me/+v80TVt0BJN80Y2Yx) for updates.
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