#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 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 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. Currently, the perpetual contract market on Arbitrum has entered "close-only mode," preventing users from opening new positions or adding to existing ones. Synthetix will gradually guide liquidity providers to migrate to the Base network, offering additional incentive support. Furthermore, Synthetix plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform. This move by Synthetix aims to achieve vertical integration, establishing the Base network as the core development platform for its latest functionalities.
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