SNXweave Weekly Recap 178
April 23, 2025
The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors from last week.
👉TLDR
- sUSD Staking in the 420 Pool
- Rewards for sUSD depositors with an SNX position in the 420 Pool are live! Earn a share of 5M SNX over 12 months (13,698.6 SNX daily).
- Limited-time chance to join early via the backdoor 420 staking guide.
- sUSD locked for 1 year, SNX rewards vest over 3 months post-campaign.
- Parifi Front-End Live with Synthetix V3 Perps
- Parifi went live last week, offering a CEX-like experience in DeFi with features like chain/account/gas abstraction, unlimited isolated positions, cross-margining, and native on/off-ramping.
- Mobile app coming soon for Android/iOS.
- What’s Next for Parifi
- Expect co-marketing campaigns, a trading competition, and more feature rollouts!
- Follow Parifi on X, join their Discord, and check out app.parifi.org.
Spartan Council and SIP updates
First, in exciting news, sUSD staking in the 420 pool has launched! Starting this past Saturday, rewards have been turned on for sUSD depositors who also hold an SNX position in the pool. SNX stakers in the 420 Pool can deposit sUSD to earn a share of 5 million SNX over 12 months, or 13,698.6 SNX daily. This is your last chance to sneak in via the backdoor 420 staking guide here!
Front-end support will go live this week through the 420 UI, but this is your chance to get in early. Click here to fill out a google form where you can register. And if you’ve completed the form and haven’t received a telegram invite, please open a ticket (🎫-create-a-ticket) and tag Fenway in Discord.
Just as a reminder, the sUSD that you deposit will be locked for a year, and fully claimable at the end of the campaign. SNX rewards earned will be locked too, and vest over 3 months post-campaign.
Next up, a new front-end just dropped: Parifi went live last week, powered by Synthetix V3 Perps on Base! Designed to compete with modern centralized exchanges, Parifi brings that clean, intuitive trading vibe to DeFi with some serious quality-of-life upgrades. Think: account, chain, and gas abstraction, plus a slick mobile app on the way for both Android and iOS.
Parifi is a game changer for perps traders because they’re working to improve the user experience and make DeFi trading easier. They’ve incorporated features such as:
🚀Abstraction Layers
- Chain Abstraction: Access liquidity across chains with minimal friction
- Account Abstraction: No private key headaches, making onboarding smoother than ever
- Gas Abstraction: No more stressing over gas fees slowing you down
📈Margin Perks
- Unlimited Isolated Positions: Open as many positions as you want, each with unique risk settings
- Cross-Margin: Use your full portfolio as collateral — no asset juggling required
💸Simplified Funding
- Native On/Off-Ramping: Deposit and withdraw in USD or EUR without relying on third-party tools
Check out the Parifi docs to dig deeper into their features and tech partners (shout-out Pyth, Router, Pimlico, and Tenderly).
What does this mean for Synthetix? Well, Parifi is joining the family as the protocol’s latest front-end integrator, expanding the reach of V3 Perps and boosting trading volume and LP rewards on Base. Traders now get access to an entirely new interface and some fresh features not found on existing Synthetix platforms.
Not only that, but users can expect:
- Co-marketing campaigns with partners
- A juicy trading competition
- More feature rollouts
- Mobile app launch for iOS and Android 👀
So let’s give Parifi a warm Spartan welcome! Drop them a follow on X, say hi in their Discord, and test-drive the app at app.parifi.org.🛡️📈