Synthetix

The upcoming Andromeda Release, scheduled for December, will bring Core V3 and Perps V3, integration of $USDC as collateral, and launch on @BuildOnBase. Perps V3 will introduce cross-margin trading, multi-collateral support, and improved liquidation processes. The release will also serve as an experimental ground for testing new features and insights for the future of multi-chain Synthetix.

Pyth Network has recently announced a retrospective airdrop for Synthetix Perps users. Synthetix Perps, with the help of Pyth's offchain oracles, has attracted tens of thousands of traders and achieved a trading volume of over $32 billion.

Synthetix V3's design focuses on markets and pools as vital components for liquidity and on-chain derivatives. It aims to revolutionize DeFi derivatives and on-chain borrowing, offering users the ability to generate sUSD with 0% interest and fees.

The @BuildOnBase Perps V3 Testnet Trading Competition has concluded after 3 weeks, with participants experiencing significant trading activity. The insights gathered will be used for the upcoming Base launch. Winners received $15,000 SNX, 15 $KWENTA, and NFTs.

Synthetix V3 plans to power derivatives across any EVM chain and support an ecosystem of developers and protocols with deep liquidity. The initial steps include isolated deployments and then cross-chain strategies.

Synthetix has announced its integration with NotifiNetwork, a leader in DeFi alerts. The integration allows users to receive instantaneous alerts regarding staking positions, protocol updates, and other essential reminders.

Synthetix V3 aims to revolutionize the world of DeFi derivatives and become a dominant player in on-chain borrowing. Users will be able to generate sUSD with 0% interest and fees using V3.

Synthetix Perps experienced a highly successful day, with $300 million in trading volume, $173 million in open interest, and over $500,000 in fees.

In Synthetix V3, sUSD will remain the system stablecoin, and sUSDLegacy will replace V2 sUSD.