Synthetix

perps v3

Synthetix Perps Launches 12 New Perpetual Futures Markets on Base

Synthetix is excited to announce the launch of twelve new perpetual futures markets on Base. The newly added markets include Optimism (OP), Ethena (ENA), Avalanche (AVAX), BNB (BNB), Thorchain (Rune), Polygon (Matic), Arbitrum (ARB), Bonk (BONK), Doge (DOGE), Fantom (FTM), Pepe (PEPE), Ordi (ORDI).

ETH Mainnet Legacy Spot Synth Migration

As outlined in SIP-2059, Synthetix is deprecating the exchange of non-USD spot synths on Ethereum Mainnet (L1) and preparing to migrate users to the V3 system. This update requires action from users holding sETH, sBTC, or other spot synths besides sUSD

perps v3

New Synthetix Perps Markets on Base: SNX, SOL, WIF, and W

Synthetix Perps has launched four new perpetual futures markets exclusively on Base: Synthetix (SNX), Solana (SOL), dogwifhat (WIF), and Wormhole (W).

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Synthetix V3 is live on Base

Synthetix V3 is now live on Base. Users can deposit USDC to earn trading rewards and USDC/SNX LP incentives. Additionally, traders can begin trading Synthetix Perps.

Pyth Governance Distribution

Following up on our prior blog post about the Pyth Governance Distribution, we are now providing the steps for users to participate.

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New Synthetix Perps Markets: PENDLE, JUP, CVX, and STRK

Synthetix is thrilled to introduce four new perpetual futures markets for leverage trading on Synthetix Perps. The newly added perpetual markets include Starknet (STRK), Convex Finance (CVX), Pendle (Pendle) and Jupiter (JUP).

Parameter Changes for Synthetix Loans

Following the adoption of SCCP-2081, Synthetix is set to increase interest rates and issuance fees on existing sUSD and sETH borrowing.

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Pyth Retrospective Airdrop

Synthetix is a recipient of the Pyth Retrospective Airdrop. This, along with the initial airdrop to Synthetix Perps users, strengthens the partnership between Pyth and Synthetix.

Simplifying SNX Staking with Debt and Escrow Migration to Optimism

Synthetix has implemented SIP-237, an upgrade that will simplify the staking experience by allowing users to migrate their staked SNX and sUSD debt to Optimism without burning existing sUSD debt.

Scaling Andromeda

The journey to Andromeda is marked by progressive ramp-up periods. Andromeda is live, actively onboarding traders, developers, and integrators with low open interest and liquidity provider caps. Over time, OI/LP caps will be increased and perps markets will be released alongside new features.

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New Synthetix Perps Markets: JTO & ORDI

Synthetix is thrilled to introduce two new perpetual futures markets for leverage trading on Synthetix Perps. The newly added perpetual markets include JTO and ORDI.

Basics of Staking SNX in 2024

Staking SNX tokens plays a pivotal role in supporting Synthetix's liquidity layer. This is vital for supplying liquidity to on-chain derivative traders engaged in products like Synthetix Perps, spot, and options markets.

The Differences Between Synthetix V2x and V3

Synthetix has evolved significantly with its transition from V2x to V3. This blog post will explore the fundamental differences between these two versions, highlighting how Synthetix V3 is set to revolutionize onchain derivatives with a liquidity layer.

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The SNX Base Bridge

SNX is now supported by the Base Bridge, allowing SNX tokens to be bridged from Ethereum to Base. This will help to support the upcoming Andromeda Release and Buyback and burn mechanism.

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Buyback and Burn & The Andromeda Release

The Andromeda Release in Synthetix introduces Core V3, Perps V3, and USDC as collateral, expanding to Base for a multi-chain approach. A key new mechanism is the buyback and burn of SNX tokens, using fees from Perps on Base as per SIP-345.

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Perps V3 Features & Release Explainer

Synthetix Perps V3 represents a significant upgrade for the world of onchain perpetual futures. Building on the successes and learnings of V2, this new version is designed to further enhance trading efficiency, usability, and resilience.

Synthetix Council Elections December 2023

It's almost time for the Synthetix community to elect new council members. Your participation as a community member and staker is crucial, as it directly influences Synthetix's direction. Positions in all councils - Spartan, Treasury, Ambassador, and Grants - are open for election.

Community Governance Call December 2023

The Synthetix community is invited to the community governance call on December 20th at 8 PM UTC. This call offers a vital opportunity to discuss the protocol's future, share insights, and deepen your understanding of upcoming updates and our ecosystem.

The End of Synthetix Token Inflation

With the passage of SIP 2043 by governance and subsequent implementation, Synthetix has reached a pivotal moment, ending SNX token inflation. This significant shift impacts both token-holders and liquidity providers, marking a pivotal point for the protocol.

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Synthetix Lists 9 New Perps Markets

Synthetix is thrilled to announce the introduction of 9 new perpetual futures markets for leverage trading on Synthetix Perps. The newly added perpetual markets include TRB, TIA, IMX, MEME, FET, GRT, PYTH, ANKR, and BONK.

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What is the Andromeda Release?

The Andromeda Release marks a significant advancement for Synthetix, featuring the deployment of Core V3 and Perps V3 simultaneously, the addition of new collateral in the form of USDC, and deployment on a new blockchain, Base. This release will propel Synthetix into a multi-chain protocol, leveraging the capabilities of the

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Synthetix V3: Collateralized Debt Positions (CDPs)

Collateralized Debt Positions (CDPs) are a fundamental component of many DeFi protocols, including Synthetix. They allow users to deposit collateral and borrow against it, creating a system of over-collateralized loans.

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Synthetix V3 Vaults: An Explainer

Vaults are a fundamental component of the Synthetix V3 ecosystem, serving as the primary entry point for liquidity providers.

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Synthetix V3 Markets: A Comprehensive Guide

Synthetix V3 brings a groundbreaking approach to creating onchain derivatives and financial products, with markets at its core. These markets draw from liquidity pools, fueled by liquidity providers (LPs) who delegate collateral and stablecoin liquidity.

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Perps V3 Testnet Competition: A Wrap-Up & Rewards Breakdown

The Perps V3 Testnet Trading Competition on Base has drawn to a close. Over three weeks, we saw an incredible amount of trading activity, competitive spirit, and valuable user feedback that has helped improve Perps V3.