#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
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 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. 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, shifting its focus to Coinbase's Base network. This move is part of Synthetix's strategic realignment, aiming to streamline operations and concentrate resources. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentive support. Currently, the perpetual contract market on Arbitrum has entered "close-only mode," preventing users from opening new positions or increasing existing ones. 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 will gradually discontinue USDx on Arbitrum and repurchase USDx from the market to provide stability and liquidity support