Synthetix

Arbitrum delegates have overwhelmingly approved a 2 million ARB grant for Synthetix's long-term incentive plan (LTIP). This paves the way for scaling up Synthetix V3 and Perpetual Futures V3 on the Arbitrum network, with incentives planned for traders and stakers. The Synthetix team expressed gratitude to the delegates and CoinflipCanada for making this possible.

aUSDc, the Aave USDC lending market, has been approved as a collateral asset for Synthetix V3 on the Base platform. While the vault to accept aUSDc deposits is not live yet, it will be available soon. This integration brings together Aave's lending markets and Synthetix's perpetual trading, enabling users to earn returns from both protocols and support composable DeFi on Base. Key benefits include earning lending returns from Aave, earning perpetual trading fees from Synthetix, earning any incentives from Aave and Synthetix, and boosting liquidity for scaling Perpetuals V3 on Base.

Synthetix has announced the launch of Synthetix Perps on Base, a new platform that supports over 30 crypto assets with deep liquidity, low fees, and advanced risk management tools for liquidity providers. This innovative offering enables the creation of synthetic assets, providing users with unique derivatives and exposure to real-world assets on the blockchain.

Synthetix has announced that users holding non-USD spot synths on the Ethereum Mainnet (L1) should swap these to sUSD or other assets using 1inch or DefiLlama as soon as possible. Beginning Monday, the Spartan Council will utilize a discount rate for the synth redeemer, and the longer users wait to redeem their non-USD synths, the more the discount ratio will be applied. This change aims to neutralize skew for stakers, make hedging easier for SNX stakers, introduce liquidity for sUSD, and ramp up activities on Synthetix V3. Users holding non-USD synths or SNX on other chains do not need to take any action.

Synthetix, a decentralized platform for synthetic assets, has released trading data for its perpetual contracts from April 15 to April 22. The total trading volume during this period was $311.8 million, with $209 million on Optimism and $102.8 million on the Ethereum base layer. The average daily volume was $44.5 million, with $29.9 million on Optimism and $14.7 million on the base layer. The lifetime trading volume on Synthetix has reached $54.2 billion, with $53.6 billion on Optimism and $615.2 million on the base layer. The platform has generated $41.3 million in lifetime fees, with $41.1 million from Optimism and $258,800 from the base layer.

Synthetix, a decentralized finance protocol, has been actively burning trading fees across multiple blockchain networks, including Optimism, Base, and Ethereum mainnet. The latest update from April 18th reports a collective burn of $565,000 in sUSD and 6,400 SNX tokens. The breakdown shows Optimism leading with 446,209 sUSD burned, followed by Ethereum L1 with 119,049 sUSD, and Base with 6,384 SNX. Previous weeks also saw significant fee burns, with Base gaining traction due to liquidity incentives and the introduction of new perpetual markets. The burned fees are distributed to liquidity providers and SNX token holders across all chains.

Synthetix has announced the launch of Synthetix Perps, a composable on-chain leverage system powering an ecosystem of protocols that bring traders on-chain. The ecosystem includes protocols like Kwenta, Polynomial, Infinex, Rage Trade, and dHedge on the Ethereum base layer and Optimism, as well as TLX on Optimism and Ethena Labs on Ethereum L1. More protocols are expected to join the ecosystem soon, enabling the creation of synthetic assets, unique derivatives, and exposure to real-world assets on the blockchain.

Synthetix has announced an increase in the open interest caps for Ethereum (ETH) and Bitcoin (BTC) perpetual contracts on the Base trading platform. The new caps have been raised to $10 million for each cryptocurrency. Traders can access these perpetual contracts through Kwenta.io, which offers public access, or through Polynomial.fi, which is currently in private beta testing.

Synthetix, a decentralized platform for synthetic assets, has released its weekly trading data for perpetual contracts from April 1 to April 8th. The total trading volume during this period was $526.6 million, with $445 million on Optimism and $81.6 million on Ethereum Base layer. The average daily volume stood at $75.2 million, with $63.6 million on Optimism and $11.7 million on Base. Synthetix's lifetime trading volume has reached $53.42 billion, with $52.98 billion on Optimism and $411 million on Base. The platform has generated $40.67 million in lifetime fees, with $40.49 million from Optimism and $171,000 from Base.

Synthetix governance is considering proposals for 15 new perpetual markets on the Base blockchain. The Spartan Council will soon decide on adding these markets and setting parameters. To support new and existing markets, governance has increased liquidity provider caps to 21.92 million tokens earlier today. The Synthetix community is actively suggesting fresh perpetual market ideas as the protocol expands its offerings on Base.