#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 Synthetix's strategic shift 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 will introduce more features on the Base network and integrate ecosystem projects like Kwenta and TLX, creating a unified native trading platform.
Ace Hot Topic Analysis
Analysis
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, entering "close-only mode." This move is part of Synthetix's strategic shift 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. The aim is to integrate Synthetix's ecosystem projects, such as Kwenta and TLX, into a unified native trading platform. Synthetix believes Base is the core development platform for launching its latest features, hence the resource concentration on Base for more efficient operations and stronger competitiveness. As USDx on Arbitrum is gradually phased out, the Synthetix Treasury has begun buying back USDx from the market, providing stability and liquidity support.
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, to create a unified native trading platform.
Synthetix will gradually discontinue USDx on Arbitrum and repurchase USDx from the market to provide stability and liquidity support.