Synthetix Volume Milestones on Base Network
Synthetix Volume Milestones on Base Network
🚀 New Volume Records
Synthetix, a decentralized synthetic asset platform, has been achieving significant volume milestones on the Base network. The platform's V3 deployment on Base has surpassed $325 million in total volume, with daily volumes regularly reaching $30-40 million. Synthetix's Kwenta trading interface also hit an all-time high 30-day average daily volume of over $200 million on Optimism. As Synthetix continues to expand on Base, it has already recorded a $10 million volume day, indicating an upward trend in adoption and growth.
On this historic day, @Kwenta_io's 30d average daily volume reached ATH, crossing $200M for the first time on @Optimism. Meanwhile, v3 continues to grow. CTTWL 🥂 (and thanks @_Synthquest for the queries)
Kwenta has surpassed $55M in volume on @base! @synthetix_io is expanding caps to fuel more growth. We've already had your first $10M volume day. Up and to the right trend continues. 😏 Go join Base szn: v3.kwenta.io
Up and to the right only. ↗️ New Daily volume PR on @base: $41M 30-40M is the current daily norm. Total @synthetix_io V3 volume on Base is now over $325M. Rookie numbers compared to whats to come. Become based: v3.kwenta.io
*Face melts as it soars into the absolute stratosphere* New PR: 38M Daily Volume We still have like a 10M cap haha, yall are based. Based on @base. ↗️ Contribute to the ascension: v3.kwenta.io
Synthetix Consolidates on Ethereum Mainnet with New Curve Pool
Synthetix continues its strategic shift to Ethereum Mainnet by cleaning up legacy systems and launching a new Curve pool (sUSDe/sUSD). The protocol has: - Deprecated the legacy Curve 4pool - Migrated liquidity to the new sUSDe pool - Plans to scale up mainnet operations This consolidation precedes the upcoming CLOB Perp launch on Ethereum Mainnet later this year. The new pool aligns with Synthetix's future vision for their Ethereum Mainnet Perp marketplace. View the new pool at [Curve Finance](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-371/deposit/)
Synthetix Sunsets Leveraged Tokens on Optimism - Important Deadlines Ahead
Synthetix is discontinuing leveraged tokens on Optimism, with key dates for token holders to note: - Minting new tokens: Disabled as of Aug 4 - Final redemption window: Aug 4-11 - Automatic liquidation: Aug 11 **Action Required:** - Redeem tokens before Aug 11 for immediate access to funds - If no action taken, positions will be automatically liquidated - Post-liquidation airdrops will be distributed based on final balances *Note: No action required for Optimism perps traders at this time.* This move aligns with Synthetix's broader strategy of consolidating operations, following their earlier announcement of L2 deprecation on Base and Arbitrum.
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