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
SNX Debt Jubilee Update and sUSD Staking Opportunity
**Important deadline approaching for SNX stakers:** - Debt jubilee resets and pauses in 10 days - Requirement: 10% of debt balance must be in sUSD 420 pool - Current staking rewards for sUSD exceed 100% APY Stakers who fail to meet the requirement will face debt position reset. This affects all debt positions not meeting the 10% threshold in the 420 pool. *Time-sensitive action required for affected stakers*
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
Synthetix Reboot Approved by Community Vote
Synthetix's SR-2 proposal has passed with 99.94% approval, initiating a significant reboot of the protocol. Key changes include: - SNX token redesign - Operationalized SNAX Chain - Restarting Synth Teleporters development - Increased focus on business development and marketing - Perps V3 expansion and V2X deprecation - V3 Perp multichain proliferation Governance will shift to a single 7-member Spartan Council, replacing the previous three-council structure. New core working groups will be formed, and a foundation will be established to handle legal and operational matters. These changes aim to make Synthetix more efficient, aligned, and focused for both short and long-term goals.