#Synthetix Shuts Down Arbitrum Market#

Synthetix has announced the closure of its perpetual contract market on the Arbitrum network, transitioning it into a liquidation-only mode. 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 incentives to support the transition. The rationale behind this decision is Synthetix's desire to concentrate resources on the Base network, positioning it as the core development platform for its latest features. Synthetix believes that the Base network is better equipped to support its future growth, offering enhanced capabilities and lower costs. As USDx on Arbitrum is gradually phased out, the Synthetix Treasury has begun buying back USDx from the market, providing stability and liquidity support. Synthetix also plans to integrate ecosystem projects like Kwenta and TLX into a unified native trading platform.