Synthetix

New Synthetix Perp Futures Markets: BNB, DOGE, and DEBT-Ratio

Synthetix is excited to launch three markets to join its growing list of supported assets available for leverage trading through Synthetix Perp Futures on Kwenta. New Markets - BNB, DOGE, DEBT RATIO BNB and DOGE Perpetual markets will join the growing list of supported cryptocurrencies available for leverage trading through

Synthetix and the Merge

In preparation for the Ethereum merge event, expected to take place on 15-September, SIP 271 was approved which suspends all Synthetix contracts on both Ethereum and Optimism, when Total Terminal Difficulty (TTD) crosses 58740000000000000000000, around 3 hours prior to the expected merge block and resume activities after ensuring that Chainlink

The Atria Release

Later today (December 3, ~08:00 UTC), the Atria release will begin. During this release, minting, burning, and claiming will be down on L2 only for 2-3 hours. Here's what’s included in this release: * SIP-192 [https://sips.synthetix.io/sips/sip-192/]: Fee Pool Accounting Error Fix and

Futures Update

Ever since our transition to Optimistic Ethereum (OΞ) kicked off earlier this year, we have been working towards our goal of launching the most liquid, fully on-chain perpetual futures platform in DeFi. Much progress has been made and numerous lessons learned, culminating in a Kwenta testnet competition [https://blog.kwenta.

The Menkalinan Release

Later today (November 23, ~1800:00 UTC), the Menkalinan release is expected to take place. During this period, there will be no downtime on L1 and up to 30 minutes of downtime on L2. Here's what’s included in this release: * SIP-167 [https://sips.synthetix.io/sips/sip-167/

The Alkaid Release

Later today (November 16, ~23:59 UTC), the Alkaid release will implement some upgrades on L1 only. During this release there will be no downtime. Here's what’s included in this release: * SIP-120 [https://sips.synthetix.io/sips/sip-120/]: Atomic Exchange Function: This SIP creates a new exchange

Lyra Fee Rebate

The newly formed Synthetix Treasury Council will assist LYRA with fee rebates in order to make pricing competitive, and to signal support to ecosystem partners that bring direct benefit to SNX stakers. A solution to the problem Due to the current 40bps fee that is charged by Synthetix on Optimism,

The Avior Release

Later today, the Avior release will implement a new upgrade on L2 only. During this release there will be no downtime on L1, but up to 3 hours of downtime L2 during which time deposits will be disabled. Here's what’s included in this release: * SIP-182 [https://sips.

The Kaus Release

Later today (October 19, ~21:00 UTC) the Kaus release will begin, implementing a minor upgrade on both L1 and L2. During this release there will be no downtime on L1 or L2. Here's what’s included in this release: * SIP-187 [https://sips.synthetix.io/sips/sip-187/] -

Moving Tokens Between Ethereum Mainnet and Optimism

Optimism Gateway - For moving the vast majority of your tokens, you can do so directly with the official Optimism gateway [https://gateway.optimism.io/welcome ] at https://gateway.optimism.io/welcome. To do this, you will need to connect your wallet, select the token you’d like to migrate,

The Sargas Release

The Sargas release has been pushed live to bring some new features to Synthetix on the Optimistic Ethereum L2. Here's what’s included in this release: * SIP-135 [https://sips.synthetix.io/sips/sip-135/] - L2 Shorting: This SIP brings shorting capabilities (that have been available on L1) to

Come join us on Sep 30 / Oct 1 for the next Synthetix community governance call!

The next Synthetix community governance call is scheduled for September 30th at 9pm UTC (9/30 afternoon/evening for western hemisphere; 10/1 morning for eastern hemisphere), and we’d love for you to join us! The current agenda for this month’s meeting (subject to change) is as follows:

The Wezen Release

In the next 24 hours (September 16, ~10:00 UTC), a number of synths will be deprecated as communicated previously [https://blog.synthetix.io/deprecating-low-volume-l1-synths/]. With SIP-174 [https://sips.synthetix.io/sips/sip-174/] now implemented, synth deprecations will be a much simpler and smoother process than in the past (see

The Mirfak Release

Later today (September 13, ~08:00 UTC), several new updates will be added to the protocol. During this release, there will be no downtime. Here's what’s included in this release: * SIP-142 [https://sips.synthetix.io/sips/sip-142/] - Deprecating EtherCollateral loans: Will officially deprecate old loan contracts

Deprecating Low Volume L1 Synths

As part of our rollout on the Optimistic Ξthereum L2, a number of synths will be deprecated on L1 and subject to a re-listing process for L2 (as per SIP-169 [https://sips.synthetix.io/sips/sip-169]). The synths to be deprecated include: s1INCH, sXTZ, sGOOG, sAMZN, sAAPL, sCOIN, sCOMP, sCRV,

July 2021 Monthly Update

July was another exciting month in Synthetix Land! Here are some of the highlights: Layer 2 updates The main update here is that synth exchanges went live on L2 last month! This is one of the biggest steps toward offering a more complete version of Synthetix on the Optimistic Ξthereum

Synth Exchanges are Live on L2!

After much anticipation, synth exchanges are now live on the Optimistic Ξthereum L2! Head on over to Kwenta [https://kwenta.io/] now to give it a try! In this initial testing phase, exchanges will be enabled for sUSD, sBTC, sETH, and sLINK. This release is part of a continual phased

Come join us on July 28 for the next Synthetix community governance call!

The next Synthetix community governance call is scheduled for July 28 at noon UTC, and we’d love for you to join us! The current agenda for this month’s meeting (subject to change) is as follows: * Welcome * Spartan Council updates * Ops, hiring, partnerships * L2 exchanges updates * L2 rollout going

June UX/UI Designer Challenge Results

The UX/UI Designer Challenge [https://blog.synthetix.io/full-time-ui-designer-challenge/] announced in early June has been successfully completed and finalised! As promised, the selected Top 10 candidates have already been contacted and will be rewarded with 200 SNX, while 2 of them will be joining Synthetix and Kwenta as full-time

OΞ Gas Update & WETH Distribution

Up until now, gas fees on L2 have been subsidized by Optimism. Starting this week though, users will have to pay gas fees to transact on L2 (~50-100x cheaper than L1 depending on the transaction type). In the coming days, Optimism will also no longer be relaying user withdrawals from

June 2021 Monthly Update

Monthly updates are back! Here to provide a regular infusion of Soonthetix energy, and June was certainly another exciting month for the Synthetix community. This month, further progress was made on our L2 deployment, we are closer than ever to trading on the OE L2 with futures not far behind,

The Alnitak Release

Later today (July 1, ~00:00 UTC), several new updates will be added to the protocol. During this release, there will be no downtime for L1 and less than 1 hour of downtime for L2 (during which deposits will be disabled). Here's what’s included in this release:

Debt Hedging Refresher for SNX Stakers

The central mechanism of the Synthetix protocol is that SNX stakers are the counterparty to trades made using the Synthetix platform. What this means in practice is that the debt you owe as a staker is proportional to your share of the global debt pool, rather than the nominal amount

Full-Time UI/UX Designer Challenge

Synthetix and Kwenta are looking to bring UI designers into our community and ecosystem, including hiring two full-time UI designers as core contributors. If you are interested in joining Synthetix or Kwenta for a full-time role as a UI designer, this is your chance. In order to facilitate this goal,

Deprecating EtherCollateral Loan Contracts

With the success of multi-collateral loans on Synthetix over the last 6 months, the time has come to sunset previous EtherCollateral loan contracts that are no longer active. Specifically, the following contracts will be deprecated: * Skinny Ether Collateral (SIP-35 [https://sips.synthetix.io/sips/sip-35]) * Ether Collateral v3.0 (SIP-85