#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 Arbitrum, entering "close-only mode." This move is part of a 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. This move aims to integrate Synthetix's operations onto the Base network, establishing it as the core development platform for its latest features. Synthetix will gradually deprecate USDx on Arbitrum, repurchasing 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.