#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on Arbitrum, shifting its focus to Coinbase's Base network. This move is part of a strategic realignment for Synthetix, aimed at streamlining operations and concentrating resources. Synthetix has requested liquidity providers to migrate to the Base network, offering additional incentives to facilitate the transition. Existing positions can still be closed or reduced during the Arbitrum retirement period. 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 Arbitrum, entering a close-only mode where users cannot open new positions or increase existing ones. 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. As USDx on Arbitrum is phased out, the Synthetix Treasury has begun buying back USDx from the market, providing stability and liquidity support. Synthetix plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. This move indicates Synthetix's commitment to concentrating resources on the Base network, hoping to attract more users and liquidity by consolidating ecosystem projects and providing additional incentives.
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 repurchase USDx from the market to provide stability and liquidity support.