Synthetix's Transition from V2x to V3 and the Andromeda Release
Synthetix's Transition from V2x to V3 and the Andromeda Release
Synthetix is transitioning from V2x to V3, which offers a collateral-agnostic system and enhanced risk management for LPs. The Andromeda Release on @base introduces buyback and burn mechanisms. V2x will continue to play a significant role while V3 scales up. The transition to V3 focuses on governance-led market and pool diversity.
Synthetix's transition from V2x to V3 represents a significant evolution for the protocol. Our latest post explores the benefits of V3 and highlights its differences from V2: - V2x to V3: Overcoming V2x's limitations, such as a single debt pool and SNX-only collateral. - V3's
ICYMI: Here's a recap of the recent Synthetix Community Governance Call, in case you missed it during the holidays. Highlights: - Perps V2 surpasses 30m+ in fees delivered to stakers. - Andromeda live on @base, with low LP caps. - Perps V3 feature explainer. Notes & 🧵 👇
Ethereum Mainnet Launch Approaching
The long-anticipated Ethereum Mainnet deployment is drawing closer, with significant implications for DeFi users and developers. - Project teams are finalizing preparations for migration from sidechains - Users should begin planning their transition strategies - Mainnet integration will enable enhanced security and scalability *Key Considerations:* - Review current sidechain positions - Monitor official announcements for specific migration dates - Prepare for potential network adjustments during transition Stay informed about upcoming developments to ensure a smooth transition to Mainnet.
Synthetix Mainnet Bug Fix Update
Synthetix has deployed a critical mainnet update addressing previously reported issues from the June 4th launch. The fix resolves stability concerns that emerged during the initial rollout. Key updates: - System stability improvements - Enhanced protocol security measures - Performance optimizations The development team confirmed all systems are now operating as intended. Users can resume normal protocol interactions.
Synthetix Launches New Mainnet Exchange with SNX Rewards Program
Synthetix unveils a new onchain exchange combining Ethereum L1 security with CEX-like performance. Key features: - Ethereum mainnet custody & settlement - High-performance offchain matching - Institutional-grade APIs - No bridge/sequencer risk A points program launches with SNX rewards for deposits, trading, and referrals. 500 exclusive invite codes will be distributed to early depositors and 420 pool stakers. Join the community: - Discord: [Chat](https://discord.gg/synthetix) - Telegram: [Updates](https://t.me/+v80TVt0BJN80Y2Yx)
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.