Synthetix priceSNX

$SNX ready for pump entry 0.42 exit 0.95 / 75% chance

DeFi protocol Synthetix is working on introducing its app chain, SNAXchain, on Optimism’s Superchain infrastructure. The team announced that SNAXchain aims to serve as a neutral hub for governance and protocol decisions as Synthetix expands to more chains and Layer 2 solutions. The network has been developed with partnerships with Conduit for chain infrastructure and Wormhole for cross-chain messaging. Optimism Superchain infrastructure is expected to enhance user interoperability and facilitate user growth for SNAXchain, the team noted. The chains in the Optimism Superchain ecosystem utilize optimistic rollups on top of Ethereum to reduce transaction costs for decentralized applications. This ecosystem is governed by a DAO known as the Optimism Collective. The ecosystem’s flagship network is OP Mainnet, and chains including Base, Mode and Zora. The rollout comes amid a new governance epoch for Synthetix, starting with nominations for various governance councils. The project added that candidates must nominate themselves via the SNAXchain. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The decentralized synthetic asset protocol Synthetix (SNX) has announced its return to the Ethereum (ETH) mainnet after a three-year hiatus. Previously, high gas fees had forced Synthetix and other derivatives platforms to migrate to layer-2 networks like Base. Synthetix migrated to Ethereum’s layer-2 network Optimism in 2022, and later expanded to Arbitrum and Base. However, Synthetix has stated that Ethereum’s fee landscape has changed significantly, reopening the door for complex, high-frequency DeFi activities on the mainnet. At this point, Synthetix founder Kain Warwick stated that after years of network congestion that forced him to shift derivatives trading elsewhere, the Ethereum network now has the capacity to support high-frequency financial applications. The founder also added that the extreme network congestion that previously affected Ethereum has been significantly resolved. Warwick argued that Ethereum now has the capacity to support multiple perpetual DEXs simultaneously, adding that other perpetual DEXs would follow Synthetix’s lead and return to the mainnet. The protocol relaunched its perpetual futures trading platform on the Ethereum mainnet on December 17. Only 500 approved investors have access to this exclusive beta test, and there is a deposit limit of 40,000 USDT per user. Withdrawal functionality is not active at launch but is expected to be enabled within 7 days. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Synthetix Network has returned to Ethereum mainnet, betting that scaling upgrades make layer-1 viable again for perps. Summary Synthetix has relaunched its perpetual futures decentralized exchange on Ethereum mainnet. The return follows a two-year period operating across Layer-2 networks. The protocol is using offchain matching with onchain settlement to scale trading. Synthetix has brought its core trading product back to where it’s original home. In a blog post published on Dec. 19, the protocol announced the launch of its canonical perpetual futures DEX on Ethereum (ETH) mainnet, marking its first return since migrating away to layer-2 networks in 2022. Perpetual trading restarts with limited access The relaunch will kick off with a private beta. With support for Bitcoin, Ethereum, and Solana markets, Synthetix Perps is currently operating on Ethereum and provides up to 50x leverage. Only 500 users, selected from contributors, stakers, and seasoned traders, have been granted access. Introducing Synthetix Perps on Ethereum Mainnet ⚔️We are thrilled to announce that Synthetix, the canonical perp DEX on Ethereum, is now live.📘 https://t.co/wF8YiMLJVt🧵⬇️ pic.twitter.com/CqcptUK96R— Synthetix ⚔️ (@synthetix) December 19, 2025 Each user is capped at 40,000 USDT in deposits. Withdrawals are disabled at launch and are expected to open roughly one week later after the team monitors on-chain deposit behavior. Synthetix (SNX) said the current setup is only an early version. New markets are planned to roll out weekly, alongside higher leverage limits, larger deposit caps, and additional trading features over the next few months. The mainnet return follows an internal reset. Most of the current team joined within the past year, and founders Kain Warwick and Jordan Momtazi have returned to active leadership roles. Why Synthetix is betting on Ethereum again Synthetix left Ethereum mainnet in 2022 as gas costs made high-frequency trading difficult. Since then, it has operated across Optimism, Arbitrum, and Base. The team now says those environments came with limits that became harder to ignore over time. The new system uses off-chain order matching with onchain settlement. User funds stay on Ethereum. Trades settle directly on layer 1 and withdrawals are permissionless. According to Synthetix, this setup delivers low latency while keeping custody and settlement on Ethereum. Lower gas prices and recent mainnet upgrades like Fusaka also influenced the move. The team believes Ethereum can now support more complex trading activity without forcing users to bridge assets or split liquidity across networks. Warwick said the shift is based on years of trial and error. In his view, capital, liquidity, and serious traders tend to concentrate where custody, settlement, and composability are strongest. Synthetix plans to expand the platform through 2026 with multi-collateral margin, new order types, real-world asset markets, and deeper integration with Ethereum-based DeFi applications.

In a move that signals a major shift for decentralized finance, the pioneering synthetic asset protocol Synthetix is making a triumphant return to its original home. The news that Synthetix returns to Ethereum mainnet marks a pivotal moment, suggesting that the foundational blockchain has overcome its past struggles and is ready to reclaim its throne for high-performance financial applications. Let’s explore what this homecoming means for traders, the DeFi ecosystem, and the future of on-chain derivatives. Why is Synthetix Returning to Ethereum Now? For years, the narrative around Ethereum centered on high gas fees and network congestion, pushing many DeFi projects to seek alternatives. Synthetix, a leader in derivatives trading, was no exception. However, the landscape has transformed. According to the project’s founder, the extreme congestion that once plagued Ethereum has been “significantly resolved.” This isn’t just about lower fees; it’s about proven capacity. The founder emphasized that Ethereum now possesses the robust infrastructure needed to support the complex, high-volume world of synthetic assets reliably. What Does This Mean for DeFi and Derivatives Trading? The decision for Synthetix returns to Ethereum mainnet is a powerful vote of confidence. It tells us that after a period of exploration across various Layer 2 and alternative networks, core financial innovation is recentering on Ethereum’s unparalleled security and liquidity. For users, this consolidation offers significant benefits: Enhanced Liquidity: Unifying activity on the mainnet pools liquidity, potentially leading to better prices and tighter spreads for synthetic asset traders. Simplified User Experience: No more bridging assets between chains. Users can interact with Synthetix directly within the vast Ethereum ecosystem. Stronger Security: Ethereum mainnet remains the most secure and battle-tested environment for managing valuable financial contracts. This move could trigger a domino effect, encouraging other DeFi derivatives platforms to reaffirm their commitment to the Ethereum base layer. The Road Ahead: Challenges and Opportunities While the return is a cause for optimism, it doesn’t mean the journey is without its watchpoints. The success of this move hinges on Ethereum’s ability to maintain its improved performance as adoption grows. Furthermore, Synthetix must successfully reintegrate its sophisticated system, ensuring a seamless experience for stakers (SNX holders) and traders alike. However, the opportunities are immense. A high-performance Synthetix on Ethereum mainnet could act as a catalyst, attracting more institutional interest in on-chain derivatives. It solidifies Ethereum’s position not just as a settlement layer, but as a live, functioning global financial marketplace. Conclusion: A New Chapter for On-Chain Finance The announcement that Synthetix returns to Ethereum mainnet is more than a technical migration; it’s a symbolic homecoming. It underscores Ethereum’s remarkable evolution and resilience. For the DeFi community, it represents a maturation—a move towards consolidating innovation on the most secure and liquid foundation available. This strategic pivot by a leading protocol could very well mark the beginning of a new, more unified and powerful era for decentralized derivatives trading. Frequently Asked Questions (FAQs) Q: What is Synthetix?A: Synthetix is a decentralized finance (DeFi) protocol that allows users to mint and trade synthetic assets (synths). These synths track the value of real-world assets like currencies, commodities, and cryptocurrencies, all on the blockchain. Q: Why did Synthetix leave Ethereum in the first place?A: Primarily due to high transaction fees (gas costs) and network congestion on the Ethereum mainnet, which made frequent trading and interactions prohibitively expensive for users. Q: What has changed on Ethereum to allow this return?A: Key upgrades, particularly “The Merge” to Proof-of-Stake and the implementation of proto-danksharding (EIP-4844), have significantly improved network capacity and reduced base transaction costs, resolving much of the prior congestion. Q: Will my SNX tokens or synths be affected?A: The protocol will manage the migration. Users should follow official Synthetix announcements for specific instructions, but typically, such returns are designed to be smooth for token holders. Q: Is this good for the price of SNX?A While price predictions are uncertain, the return to Ethereum mainnet is fundamentally positive. It could increase protocol usage, attract more liquidity, and strengthen SNX’s value proposition within the core DeFi ecosystem. Q: Does this mean Synthetix is abandoning other chains like Optimism?A Not necessarily. Many protocols operate a multi-chain strategy. The return to mainnet likely means Ethereum will host the primary, canonical version, while Layer 2 solutions may still be used for specific scaling or experimental features. Found this insight into Synthetix’s pivotal return helpful? Share this article with your network on Twitter or LinkedIn to discuss what this means for the future of DeFi and Ethereum’s dominance! To learn more about the latest Ethereum and DeFi trends, explore our article on key developments shaping Ethereum’s roadmap and institutional adoption. Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.