Synthetix

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.

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.

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.

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.

Kwenta has launched the frontend integration of Perps V3 on Base, being the first partner to go live for public beta. This will enable traders to interact with Perps V3, leading to increased trading activity on Base.

Next week on March 14th at 6 pm UTC, Synthetix will be hosting a Spartan Space event with Pyth Network. The event will cover an introduction to Pyth, how Synthetix Perps uses Pyth Oracles, understanding governance at Pyth, and upcoming features. RSVP to join the event.

Toros and dHedgeOrg partnered to create a delta-neutral vault on Synthetix Perps. Users can deposit wstETH on Aave, borrow sUSD, and short ETH perp on Kwenta_io using sUSD. This strategy is currently profitable due to positive funding rates.

The $LUSD wrapper allows users to acquire sUSD on the Ethereum Mainnet by minting sUSD using LUSD in a wrapper contract. The current fee is 50bps, with a maximum token amount of 5 million LUSD and a burn fee of 100bps. The LUSD wrapper was implemented following the implementation of SCCP 2085, providing a convenient way to access sUSD.

Synthetix Perps has introduced four new assets: $PENDLE, $JUP, $CVX, with $STRK from StarkWareLtd coming soon. Experience low fees, deep liquidity, and full decentralization. This initiative aims to simplify DeFi onboarding and broaden user base, with USDC deposits support on Infinex.