#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 streamline 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 action indicates Synthetix's commitment to concentrating resources on the Base network, positioning it as the primary platform for its future development.
Ace Hot Topic Analysis
Analysis
Synthetix has announced the closure of its perpetual contract markets on the Arbitrum network, transitioning all markets to "close-only mode." 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 to support the transition. Synthetix believes that the Base network will become the core development platform for its latest features and plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. This move signifies Synthetix's proactive pursuit of a more strategic direction, aiming to enhance its competitiveness by consolidating resources and focusing on the Base network.
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.