#Synthetix Shuts Down Arbitrum Market#

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 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 will provide additional incentives on the Base network to encourage liquidity provider migration. This move aims to consolidate operations and focus on the Base network, which has become the core development platform for Synthetix to launch its latest features. Synthetix plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform.