#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, which is now in liquidation-only mode. Users are unable to open new positions or increase existing ones. This move is part of Synthetix's strategic realignment, aiming to streamline operations and focus on Coinbase's Base network. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentives. Synthetix also plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform.
Ace Hot Topic Analysis
Analysis
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 to support the transition. This initiative aims to consolidate all of Synthetix's functionalities onto the Base network, providing a more centralized user experience. Synthetix will gradually deprecate USDx on Arbitrum, repurchasing USDx from the market to provide stability and liquidity support. Synthetix also plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform.
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 Synthetix Treasury has begun to buy back USDx from the market to provide stability and liquidity support.