#Synthetix Shuts Down Arbitrum Market#

Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, entering "close-only mode." This move aims to focus resources on Coinbase's Base network. Synthetix believes Base will be the core platform for its future development and new features, with plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. To facilitate this transition, Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentive support. Meanwhile, the Synthetix Treasury has begun buying back USDx from the Arbitrum market to provide stability and liquidity support, gradually phasing out USDx on Arbitrum. Existing positions can still be closed or reduced during the Arbitrum retirement period. This strategic adjustment indicates Synthetix is actively seeking new directions, hoping to achieve longer-term goals by consolidating resources and focusing on the Base network.