Synthetix V3 is live on Base

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Synthetix V3 is present unrecorded connected Base. Users tin deposit USDC to gain trading rewards and USDC/SNX LP incentives. Additionally, traders tin statesman trading Synthetix Perps.

Synthetix V3 is unrecorded  connected  Base

Synthetix V3 is present unrecorded connected Base, allowing users to provide liquidity, gain trading fees, and person USDC/SNX LP incentives.

Users tin present enactment arsenic liquidity providers by supplying USDC collateral to the Spartan Council Pool. In return, they volition gain a stock of Perps trading fees and beryllium eligible for USDC/SNX LP incentives provided by the Synthetix Treasury Council.

As liquidity grows, Synthetix V3 connected Base volition beryllium capable to enactment accrued unfastened involvement and present caller markets.

To get started arsenic an LP and larn much astir the inducement programs, travel the instructions successful the "Providing Liquidity" and "Earning SNX & USDC LP Incentives" sections below.

Providing Liquidity

To supply liquidity, gain fees, and person USDC/SNX LP incentives connected the Base deployment:

  1. Go to https://liquidity.synthetix.eth.limo/
  2. Follow the V3 Base LP Guide to deposit USDC collateral

In V3, idiosyncratic rewards are based connected the magnitude supplied by collateral. Currently, users tin lone deposit USDC to gain fees without minting stablecoins (aka debt). Additionally, users cannot retreat collateral & rewards for 24 hours pursuing deposit.

Earning SNX & USDC LP Incentives

Synthetix introduced 2 inducement programs (USDC and SNX) rewarding USDC LPs for supplied collateral to accelerate Perps V3 Base growth. Learn much astir the programs and however to enactment arsenic an LP.

Perps V3: Key Upgrades

Building connected V2, Perps V3 introduces important upgrades to the system, improving the liquidity supplier and trader experiences.

  • Native cross-margining with a unified borderline excavation crossed positions.
  • Gradual, configurable liquidations to trim MEV risks.
  • Improved deterministic settlements with low-latency oracles.
  • NFT-controlled accounts alteration transportation and support access.

Experimental Deployment and Future Improvements

The Base deployment experiments with USDC arsenic a caller collateral type. Governance volition continually set parameters, expanding caps connected collateral, unfastened interest, and supported markets. The existent interest organisation is:

  • 20% to frontend integrators
  • 40% for SNX buybacks and burns
  • 40% to liquidity providers

As Synthetix refines its V3 contracts and expands connected Base, users tin expect further improvements and launches wrong the ecosystem.

Trading Synthetix Perps connected Base

As of April 4th, 2024, the pursuing partners are integrated into Synthetix Perps connected Base:

Any Questions?

Join the Synthetix Discord for immoderate questions oregon concerns.

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