Synthetix

**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 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 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 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'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.

The Synthetix Reboot referendum has achieved quorum, marking a significant milestone in the governance process. This vote follows a series of important events: - A referendum proposing changes to the DAO structure was introduced on September 25th - New council members were elected on September 17th - Voting for council members took place from September 11th to 16th - The election process introduced SNAXchain, Synthetix's new app chain **Current status:** - Quorum reached on October 4th - Voting remains open for community participation **Next steps:** - Review current results - Cast your vote if you haven't already Visit the governance portal to participate in shaping Synthetix's future.

Synthetix has introduced a new channel for community members to share SNX ecosystem-related content. This space welcomes various formats including: - Tweets - Articles - Videos - Memes - Graphics The initiative aims to boost content reach through community engagement. Synthetix encourages all 'Spartans' to actively support shared content by: 1. Liking 2. Commenting 3. Retweeting Access the new channel here: [Discord Link](https://discord.com/channels/413890591840272394/1288964108011704362)

Pyth Network has launched Oracle Integrity Staking (OIS), a significant upgrade to enhance DeFi ecosystem security: - OIS introduces staking rewards and slashing mechanisms - Incentivizes accurate data provision and consistent uptime - Covers all 500+ Pyth real-time price feeds Benefits for Synthetix ecosystem: - High-quality, reliable data streams for integrators - Improved user experience through rewards and penalties Key features: - Stakers can help protect the DeFi ecosystem - Inaccurate data or downtime results in token slashing Learn more: [Pyth Network Blog](https://www.pyth.network/blog/oracle-integrity-staking-incentivizing-safer-price-feeds-for-a-more-secure-defi) **Note**: Be cautious of unauthorized links or accounts claiming to be Synthetix or Pyth.

Synthetix has published a comprehensive chain-by-chain breakdown of its ecosystem, responding to community demand. The report covers: - Synthetix's presence on Base, Arbitrum, and Optimism - Details on their proprietary SNAX Chain - Insights into BFP (Base Fee Pool) mechanism - Strategies for scaling cross-chain liquidity and DeFi This breakdown provides a clear overview of Synthetix's multi-chain approach and how it's leveraging different networks to enhance its synthetic asset ecosystem. For those interested in the technical aspects of cross-chain DeFi and liquidity scaling, this report offers valuable insights into Synthetix's infrastructure and future plans.

Toros Finance has launched sUSDcy, a new product that aims to enhance Synthetix V3 USDC liquidity in a composable DeFi ecosystem. Users can hold sUSDcy and let it auto-compound, deposit it into Aerodrome's sUSDcy/USDC or sUSDcy/SNX pools to earn a portion of the auto-compounding rewards and AERO emissions, or soon use Ajnafi to borrow USDC with sUSDcy as collateral. The sUSDcy/USDC and sUSDcy/SNX pools on Aerodrome have recently been approved for AERO emissions.