Synthetix is excited to announce the launch of fourteen new perpetual futures markets on Base. The newly added markets include Bittensor (TAO), Chainlink (LINK), GMX (GMX), Injective Protocol (INJ), Axelar (AXL), Sui (SUI), Etherfi (ETHFI), Celestia (TIA), Stacks (STX), Arkham (ARKM), Toncoin (TON), Pendle (PENDLE), Gala (GALA), Book of Meme (BOME). These markets were approved in SIP-370, SIP-372, SIP-375, SIP-379, SIP-380, with configurable values set by SCCP-327. Trading Synthetix Perps on Base The new perpetual futures markets are only available on Synthetix Perps deployed on Base. Traders ..read more

April 24, 2024 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week. ?TLDR Synthetix Quarterly Report published last week Elections: Voting begins today (Wednesday, April 24th) & SNXweave will be hosting the Spartan Council candidate panel tomorrow (Thursday, April 25th). Get your nomination in if you plan to run for SC and would like to join the panel discussion! Synthetix Community Governance Call happening today, see agenda below Andromeda:? There ..read more

Quarterly Report for Synthetix, Quarter 1 of 2024: January — March. ?Q1 Highlights ⭐ Spartan Council/CCs: Andromeda Scaling & L1 Perps ⭐ Grants Council: sUSD Bridge UI ⭐ Ambassador Council: OP Grants The first quarter of 2024 was a period of intense growth and development for Synthetix, marked by significant technical advancements and a reinforced commitment to community-driven governance. Let’s take a minute to review some of the highlights and challenges from the last three months. The Andromeda invite-only Alpha went live right at the beginning of the year. You’ll remember, back in 202 ..read more

The Synthetix community is invited to the community governance call on April 24th at 9 PM UTC. This call offers a vital opportunity to discuss the protocol's future, share insights, and learn more about upcoming updates. The call will feature updates from core contributors, council members, and ecosystem integrators. Call Details: Date: April 24th, 9 PM UTC Location: Live on Discord. RSVP here: Discord Link. Agenda: Welcome Spartan Council Update Synthetix V3 & Perps V3 on Base Synthetix V3 & Perps V3 on Ethereum Mainnet SNX Staker L1 Migration to V3 Spot Synth Depre ..read more

Synthetix Governance elections will begin tomorrow, April 18th. Your participation as a community member and SNX staker are crucial, as it directly influences Synthetix's direction. Seats on the Spartan, Treasury, and Ambassador councils are all up for nomination and election by community members. Important Dates: Nominations Start: Thu Apr 18 23:37:18 2024 UTC Voting Start: Wed Apr 24 23:19:26 2024 UTC New Epoch Start: Sun May 05 23:19:26 2024 UTC Epoch Overview: The governance cycle is structured in 4-month epochs. Councillors will serve for the entire 4-month epoch upon el ..read more

April 17, 2024 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week. ?TLDR Elections: Nominations open tomorrow (April 18th) & voting begins next Wednesday (April 24th). SNXweave will be hosting the Spartan Council candidate panel next Thursday (April 25th). Andromeda: LP caps have been raised to $21 million and LP-backed collateral is at ~$10 million. BTC and ETH OI caps are also around $10 million, with 14k SNX cumulative burn, so the council is ju ..read more

April 10, 2024 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week. ?TLDR V3 LP app is now public and live on Base! Andromeda: Currently ~ $20 million in daily perps volume, over $400 million in cumulative volume, and over $10 million in LP-backed collateral. OI caps are being raised now. Migration of L1 SNX to V3 using the V3 legacy market is expected to be ready this month L1 Perps third audit is underway and expected to be complete this month Synthet ..read more

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. The migration will help move liquidity to V3 and manage the V2X skew. Key Points: Spot synth exchanges (and atomic swaps) are being deprecated on the 15th of April on Ethereum Mainnet. Spot Synth exchanges on V2X Optimism will not be impacted. Users can swap their sETH, sBTC, and other non-USD spot synths by the 15th of April. After the 15th ..read more

Synthetix V3 is now live on Base, allowing users to provide liquidity, earn trading fees, and receive USDC/SNX LP incentives. Users can now participate as liquidity providers by supplying USDC collateral to the Spartan Council Pool. In return, they will earn a share of Perps trading fees and be eligible for USDC/SNX LP incentives provided by the Synthetix Treasury Council. As liquidity grows, Synthetix V3 on Base will be able to support increased open interest and introduce new markets. To get started as an LP and learn more about the incentive programs, follow the instructions in the "Provid ..read more

Synthetix is launching USDC and SNX incentive programs on Base to boost liquidity provider collateral, which is crucial for expanding Synthetix V3 and Perps V3 open interest and supported markets. USDC Incentives The Synthetix Treasury, in partnership with Gauntlet, will allocate $50,000 in monthly USDC incentives to boost the Synthetix V3 Pool on Base. These incentives will be distributed proportionally monthly to liquidity providers who deposit USDC into the Synthetix V3 liquidity app via the Spartan Council Pool. Following this period, the incentives may be renewed or increased based on pe ..read more