#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, shifting its focus to Coinbase's Base network. This move is part of Synthetix's strategic realignment, aiming to streamline operations and concentrate resources. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentives to support the transition. Concurrently, Synthetix will integrate ecosystem projects like Kwenta and TLX, creating 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." 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. Synthetix believes Base will be the core development platform for launching its latest features and plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. This move signifies that 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. 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 repurchase USDx from the market to provide stability and liquidity support.