#Synthetix Shuts Down Arbitrum Market#
Hot Topic Overview
Overview
Synthetix has announced the closure of its perpetual contract market on Arbitrum, transitioning it to 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. Concurrently, Synthetix will integrate its ecosystem projects, such as Kwenta and TLX, to create 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 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 incentives. This action is part of Synthetix's strategic shift to consolidate operations on the Base network, positioning it as the core development platform for launching new features. Synthetix will gradually phase out USDx on Arbitrum, repurchasing 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 will gradually discontinue USDx on Arbitrum and repurchase USDx from the market to provide stability and liquidity support