#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
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 a strategic shift for Synthetix, 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. 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, moving it into "close-only mode." This move is part of a strategic shift for Synthetix, 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. The rationale behind this decision is Synthetix's belief that the Base network is better suited for its future development, and the consolidation of operations will enhance efficiency. Synthetix will launch new features on the Base network and plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. This move by Synthetix demonstrates its confidence in the Base network and its desire to achieve its long-term goals by focusing on it.
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 will gradually discontinue USDx on Arbitrum and buy back USDx from the market to provide stability and liquidity support.