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Synthetix V3 has been launched on Base, introducing a platform where users can provide USDC collateral to earn LP rewards, including SNX and USDC rewards, plus trading fees, and enabling perpetual futures trading across the Optimism Superchain. This update brings features like native cross-margining and NFT-controlled accounts. Additionally, Synthetix has introduced perpetual futures markets for $SNX, $SOL, $WIF, and $W on Base. In its first week, the platform saw significant activity, including the burning of $561k sUSD and 4.6k SNX in fees, and Base experienced approximately $30.7M in inflows, closely competing with Solana's $44.5M. The launch aims for a delta neutral position and has been positively received, with expectations of increased open interest and support for new perps markets.
Synthetix Perps has launched $SNX, $SOL, $WIF & $W perpetual futures markets on @base. Trade now on @kwenta_io. Calling all LPs! Earn trading fees and USDC/SNX incentives while supporting the growth of these new markets by providing liquidity on Synthetix V3. https://t.co/OUC5N1kO0Z
This is very surprising given how much less there is to do on Base vs. Solana and the lower valuations of comparable memes/projects... Bullish Base I'd think. https://t.co/RLlxuo7XHF
Update to this: - In the past week, we've seen Base have ~ $30.7M inflows compared to Solana's ~ $44.5M - The disparity between the two week-over-week has started to close - Starting to see increasingly more trades per day across the board, Solana and Base are about on par… https://t.co/yz8TXFM1BX https://t.co/CmDDniDrKF
