#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. This means Synthetix will no longer support USDx on the Arbitrum network and has begun buying back 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.
Ace Hot Topic Analysis
Analysis
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, moving into liquidation-only mode. This move aims to streamline operations and focus on Coinbase's Base network. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentive support. This action is part of Synthetix's strategic shift to consolidate operations on the Base network, positioning it as the core development platform for launching new features. Synthetix will gradually phase out USDx on Arbitrum and repurchase USDx from the market to provide stability and liquidity support. Additionally, Synthetix 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 USDx will be repurchased from the market to provide stability and liquidity support.