#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, transitioning it into a liquidation-only mode. This move is part of Synthetix's strategic realignment, aiming to consolidate operations and focus on Coinbase's Base network. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentives for support. This also signifies the gradual discontinuation of USDx on Arbitrum, with Synthetix repurchasing USDx from the market to provide stability and liquidity support. Synthetix plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform, offering expanded functionalities on the Base network.
Ace Hot Topic Analysis
Analysis
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, moving it into "close-only mode." This move is part of Synthetix's strategic shift to consolidate operations and focus on Coinbase's Base network. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentives to support the transition. This move aims to integrate Synthetix's ecosystem projects, such as Kwenta and TLX, into a unified native trading platform and further strengthen its presence on the Base network. Synthetix believes that the Base network will become the core development platform for launching its latest features and better support its future growth.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Synthetix strategic adjustments, integrating operations and focusing on Coinbase's Base network.
Synthetix will gradually guide liquidity providers to migrate to the Base network and provide additional incentive support.
Synthetix will integrate ecosystem projects such as Kwenta and TLX into a unified native trading platform.
Synthetix's USDx on Arbitrum will be gradually discontinued, and USDx will be repurchased from the market to provide stability and liquidity support.