#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 "close-only mode." This move is part of Synthetix's 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 to support the transition. This means Synthetix will no longer support USDx on the Arbitrum network and has begun buying back USDx from the market to provide stability and liquidity support. Synthetix plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform and will offer more features on the Base network.
Ace Hot Topic Analysis
Analysis
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, entering "close-only mode." This move aims 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. This strategic shift is part of Synthetix's effort to consolidate operations and resources, focusing on the Base network as the core development platform for launching new features. Synthetix will gradually deprecate 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's perpetual contract market on Arbitrum has entered a close-only mode, users cannot open new positions or increase existing positions.