Synthetix

Synthetix V3 and Synthetix Perps, a new financial primitive enabling synthetic asset creation and derivatives trading, have gained momentum on the Base blockchain. The protocol has received governance approvals and new markets are being launched. Synthetix Perps V3 is now live for traders on Kwenta.io, with integrations from Polynomial.fi and Infinex.app coming soon. The protocol recently saw $20 million in daily trading volume on Base, despite constrained liquidity caps. New features include USDC collateral, native cross-margin, MEV-resistant liquidations, and NFT-based accounts. Governance is expected to increase liquidity caps as adoption grows.

Synthetix, a decentralized finance protocol, has announced the launch of CyberDEX, a perpetual trading platform built on top of the Synthetix protocol. CyberDEX is now live on the Optimism network, utilizing the Synthetix Debt Pool which currently holds over $175 million in liquidity. By leveraging this substantial liquidity pool, CyberDEX aims to offer its users highly competitive slippage rates compared to other decentralized exchanges in the DeFi space.

Synthetix, a decentralized finance protocol enabling the creation of synthetic assets, has announced that its trading platform Kwenta has surpassed $55 million in trading volume on the Base blockchain. The protocol is expanding its capacity to fuel further growth, having already recorded its first $10 million volume day. The upward trend in trading activity continues, indicating growing adoption of Synthetix's synthetic asset offerings.

Synthetix, a decentralized finance protocol, has released its latest Perpetual Futures (Perps) data report. The report covers the period from March 11th to March 18th and highlights the following key metrics: 7-Day Total Volume of $1.21 billion, Average Daily Volume of $173 million, Lifetime Perps Volume of $51.14 billion, and Lifetime Fees of $39.12 million. These figures demonstrate the continued growth and adoption of Synthetix's Perpetual Futures platform.

Synthetix, a decentralized finance protocol, is considering adding several new assets to its Perpetual Futures platform (Perps V3) through community governance proposals. The proposals under consideration are SIP-363, which proposes adding Synthetix Network Token (SNX), Solana (SOL), and Wrapped ImmutableX (WIF), and SIP-368, which proposes adding Wormhole (W). If approved, these assets would be available exclusively on the Perps V3 platform.

Synthetix, a decentralized finance protocol, retweeted a post highlighting that the market is not fully valuing the current revenue generated by the platform without external incentives. The tweet also mentioned the implications of the upcoming BASE launch, which will introduce on-chain perpetual contracts, a new financial primitive enabling the creation of synthetic assets and derivatives based on real-world assets on the blockchain.

Users are advised to adjust their bots as a Perps Keeper transaction overpaid with a gas fee of $0.0069. The fee will adjust dynamically with blob pricing changes, making it less than 1 cent to trade perps onchain.

EIP-4844 has been successfully implemented on the Optimism network, resulting in a significant reduction in gas costs for Synthetix Perpetuals transactions. The gas fees for these transactions have dropped from around $3 to just $0.14, a remarkable decrease. This development is expected to facilitate the onboarding of new users to the Ethereum ecosystem and contribute to its scalability. However, it appears that some users may need to adjust their bots to account for the correct gas fee of $0.0069, which will dynamically adjust based on blob pricing changes. The Synthetix community is celebrating this milestone, as trading Synthetix Perpetuals on Optimism and other networks is now much more affordable, with transactions costing around $0.06 instead of $1.5.

Base Protocol has implemented SCCP-311, raising the USDC LP cap for Perpetual Futures (Perps) V3 from $1 million to $10 million. This increase allows for higher open interest and supports the introduction of new perpetual futures markets. Traders can now access these expanded Perps markets through platforms like Kwenta.io, which is live and onboarding new users.

A user paid $1.5 for a perps transaction, but soon with EIP-4844, it will cost just around 6 cents. This will make trading Synthetix Perps on Optimism and Base more affordable.