Synthetix

The Synthetix sUSD native bridge is now operational on the Staking Dapp, enabling users to transfer sUSD from Optimism to Ethereum Mainnet for arbitrage opportunities. It is important to note that bridging from Optimism to Mainnet involves a 7-day delay.

As of now, Nowthetix has taken over and replaced Soonthetix as the new leader in the Synthetix community.

Synthetix Perps, powered by Pyth Oracles, have exceeded $40B in trading volume. The achievement can be attributed to lower fees and an improved onchain Perps protocol. Synthetix is proud to be one of the early adopters of Pyth Oracles and has received the Pyth Retrospective Airdrop.

Synthetix IO proudly acknowledges surpassing $40B in trading volume for Synthetix Perps, crediting Pyth Network's oracles for lower fees and enhanced protocol. The Pyth Retrospective Airdrop has benefitted over 160 dApps on 27 chains, aiming to engage the community, support governance members, and reward developers in future V3. The collaboration with Pyth Network has reduced Perps trading fees significantly, making onboarding CEX traders easier and increasing onchain user base.

The Red Wars Event #3 by Synthetix has ended, and reward details will be shared on Discord. Event #4 with a reward pool of $78,870 USD has been announced. Follow the instructions to participate.

The 7-day total volume for Synthetix Perps as of February 6th was $289 million with an average daily volume of $41.4 million. The lifetime Perps volume reached $44.57 billion, and lifetime fees amounted to $34.90 million. Data collected from January 29th to February 5th showed a decrease in volume compared to the previous weeks.

dHedgeOrg is a non-custodial asset management protocol highlighted by SNX Ambassadors. It allows users to retain control of their assets while enabling others to manage the capital. SNX stakers are encouraged to learn about their debt hedging vault with dHedgeOrg.

Synthetix V3 markets, which have been eagerly awaited, are set to be released to the public. Market caps are increasing in expectation of new traders. The transition from V2 to V3 is apparent as one winds down while the other ramps up. Excitement is building as this release marks just the beginning for Synthetix.

Key milestones from the 2024 draft roadmap include scaling base volume to $20 million/day, deciding on a new chain for deploying V3 and Perps, converting governance fully on-chain, releasing L1 Perps, and starting the migration of SNX from V2X.

Partners of Synthetix, including Kwenta_io, PolynomialFi, and infinex_app, are actively working on integrations for the upcoming Andromeda Release. Beta access is available by signing up for a chance to test Perps V3.