#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on Arbitrum, shifting its focus to Coinbase's Base network. This move is part of a strategic realignment for Synthetix, aiming to streamline operations and concentrate resources. Synthetix has begun buying back USDx from the Arbitrum market, providing stability and liquidity support while encouraging liquidity providers to migrate to the Base network. Existing positions can still be closed or reduced during the Arbitrum retirement period. Synthetix also 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 a close-only mode where users cannot open new positions or increase existing ones. This move is part of Synthetix's strategic realignment, 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 incentive support. The Synthetix Treasury has begun buying back USDx from the Arbitrum 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 move indicates that Synthetix is actively seeking new directions and hopes to enhance its competitiveness by consolidating resources and focusing on the Base 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 will gradually discontinue USDx on Arbitrum and repurchase USDx from the market to provide stability and liquidity support