SNXweave Weekly Recap 170
February 26, 2025
The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors from last week.
👉TLDR
- Synthetix Alpha Calls: New call series for the community to get a behind-the-scenes look at the latest Synthetix offerings, test alpha releases, and directly engage with the CCs during live demos. The first call happened last Friday.
- Status of rewards programs:
- Synthetix Leveraged Token Rally: Completed
- This 5-week program ended yesterday.
- Rewards for sUSD depositors on Infinex: Ends today
- Deposit $1,000 or more sUSD into your Infinex account before midnight UTC tonight, February 26th, to be included in this last week of SNX and OP rewards, or to be eligible for the random Patron NFT drawing.
- Base LP Incentives: 2 weeks left
- Phase 1 of the extended program ended yesterday.
- Phase 2 has begun and will go through March 11th.
- During these remaining 2 weeks, rewards will only apply to stataUSDC LPs.
- Synthetix Leveraged Token Rally: Completed
Spartan Council and SIP updates
While the Spartan Council had to reschedule last week’s meeting, we’ve still got a few quick reminders and updates for you guys in the meantime.
First up, Synthetix has just started a new series called “Synthetix Alpha Calls” in the degen-trading-voice channel of the Discord. Burt hosted the first call this past Friday evening (UTC time), leaking access to the alpha version of Synthetix Exchange and bringing the audience a live demo of a UX upgrade regarding trading perps on the superchain. This call also featured a live walkthrough of onboarding and live trading on the new release, as well as the opportunity to try out the new experience before everyone else.
Future Alpha calls will have similar information and experiences, and will allow the community to directly engage with core contributors to ask questions and share feedback. There will also be Discord trivia, and you’ll be given the “Alpha” role in Discord if you request to speak during the calls.
The goal of this series is to create a Synthetix Alpha insider community and create an open, two-way street for feedback between contributors and faithful users. The calls will be a great opportunity for the community to get a behind-the-scenes look at the latest Synthetix offerings, test alpha releases, and hang out with the CCs during live demos! Simply show up to future calls, and you’ll be invited to join the Alpha community to see the latest from Synthetix.
Next, as a quick status update of rewards programs that the protocol is currently running:
- Synthetix Leveraged Token Rally: Completed
- This has just ended yesterday after 5 weeks. This program offered traders a chance to earn OP and USDC rewards, based on their trading volume, by minting Leveraged Tokens on Optimism or Base from January 21st to February 25th.
- Rewards for sUSD depositors on Infinex: In its last week
- This program is in its LAST remaining week and will end tonight at midnight UTC!
- As a reminder, Synthetix and Infinex have been offering rewards to sUSD holders who deposit their funds on the Infinex app (starting January 16th) with weekly rewards in OP and SNX tokens, plus the chance to win an exclusive Patron NFT for active users.
- Like previous weeks, 10,000 SNX and 10,000 OP will be distributed in this last week, along with a random Patron NFT drawing.
- To enter, deposit $1,000 or more sUSD into your Infinex account before midnight UTC tonight, February 26th.
- Base LP Incentives: 2 weeks left
- As a reminder, Synthetix extended its LP rewards program on Base for a third time, offering weekly rewards in SNX and USDC to LPs, with specific phases for USDC + stataUSDC LPs and for just stataUSDC LPs.
- Phase 1 of the extended program just concluded yesterday, and Phase 2 has begun and will go through March 11th.
- During these remaining 2 weeks, rewards will only apply to stataUSDC LPs.
Lastly, tune in today at 21:30 UTC for the Spartan Council sync and public discussion!