Synthetix

The Synthetix Treasury has approved two proposals to launch Synthetix Perpetual Futures (Perps) on the Sui and Solana blockchains. The approved proposals, STP-17 and STP-18, will establish working groups tasked with bringing the Synthetix Perps platform to these new blockchain ecosystems. This move aims to expand the reach of Synthetix's decentralized synthetic asset platform and enable the creation of unique derivatives and exposure to real-world assets on additional blockchain networks.

Synthetix, a decentralized finance platform enabling the creation of synthetic assets, is celebrating the first anniversary of its Polynomial Trade feature. To mark the occasion, Synthetix will be distributing 2000 SNX tokens as fee rebates for users of its v3 platform on Base over the next seven days.

Synthetix, a decentralized platform for synthetic assets, has been awarded two grants from Optimism in Cycle 19. The first grant of 200,000 OP tokens aims to boost liquidity for the synthetic USD (sUSD) and support trading competitions for Perpetual Futures (Perps). The second grant of 400,000 OP tokens will fund the development of an orderbook Perpetual Futures DEX on the Synthetix platform, featuring advanced order types, an open-source relayer, and infrastructure to enforce trading rules.

Synthetix has deployed its V3 upgrade, enabling permissionless liquidity pools and markets. The Dencun upgrade has reduced gas costs, making perpetual contracts cheaper. Synthetix is also expanding to multiple chains to scale fees. Non-native collateral liquidity is being introduced for reliable liquidity. Early metrics show Synthetix recently had $20 million in daily trading volume on Base, even with constrained liquidity caps. The V3 upgrade includes new features like USDC collateral, native cross-margin, MEV-resistant liquidations, and NFT-based accounts. Governance will increase liquidity and open interest caps as liquidity grows. Integrations from Kwenta, Polynomial, and Infinex enhance the user experience. Future considerations include new collateral types, cross-chain deployments, an order book DEX on Optimism, and catering to L1 traders and Ethena.

Two Synthetix Community Curation Pool (SCCP) proposals, SCCP 313 and SCCP 314, are awaiting governance approval. If approved, these proposals would enable incentives for liquidity providers (LPs) of USDC and SNX trading pairs on the Base decentralized exchange. The incentives would be distributed according to schedules defined by the Synthetix Treasury Council or partners participating in the Spartan Council pool.

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.