Synthetix Liquidations Resume - 420 Pool Migration Update
Synthetix Liquidations Resume - 420 Pool Migration Update
⚠️ Last Call Before Liquidations
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.
🚨 For existing stakers 🚨 Liquidations are being re-enabled following the initial 420 Pool migration. If your c-ratio is below 160%, you are at risk! Migrate to the 420 Pool now and enjoy debt forgiveness, and no liquidations! ▶️ 420.synthetix.io
420, Stake It. The 420 Pool is now open for SNX stakers. Migrate your position, burn your debt, and never worry about liquidations again. Here’s everything you need to know 🧵🔽
SNX Stakers—In case you missed it, your debt can now be forgiven. The 420 Pool is live, offering full debt relief for migrating stakers. It's our way of thanking you as Synthetix enters a new era. Don’t miss your chance!
420, Stake It. The 420 Pool is now open for SNX stakers. Migrate your position, burn your debt, and never worry about liquidations again. Here’s everything you need to know 🧵🔽
100m debt relieved SNX in the 420 pool on day 1
Bon Appétit
**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 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.