#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on Arbitrum, 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 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 streamline operations and focus on Coinbase's Base network. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentives. This means Synthetix will no longer support USDx on the Arbitrum network and will gradually buy back USDx in 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. This initiative reflects Synthetix's commitment to the Base network and indicates its continued development and innovation on the 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's perpetual contract market on Arbitrum has entered a close-only mode, users cannot open new positions or increase existing positions.