#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 liquidation-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. 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, entering "close-only mode" and gradually guiding liquidity providers to migrate to Coinbase's Base network. This move is part of Synthetix's strategic adjustment, aiming to consolidate operations and focus on the Base network. Synthetix will offer additional incentives on the Base network to facilitate migration and plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. The Synthetix Treasury has begun buying back USDx from the Arbitrum market, providing stability and liquidity support. Existing positions can still be closed or reduced during the Arbitrum retirement period.
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