Derivatives liquidity protocol, Synthetix announced its upcoming roll out on Arbitrum, introducing V3 to the network in multiple phases. The initial stage will incorporate Synthetix’s liquidity infrastructure and facilitate the trading of Synthetix Perps V3 derivatives on Arbitrum.
Individuals who deposit ETH, ARB, as well as USDC are eligible to receive ARB LTIP rewards. Additionally, depositors have the option to borrow Synthetix’s newly launched USDx stablecoin.
The release will unfold via 3 main stages. In the initial week, it will focus on accumulating a substantial amount of LP collateral in ARB, USDC, and ETH. When the total LP collateral reaches $10-20 million, Perps trading will be prepared for launch.
Subsequently in the second and third weeks, Ethena‘s sUSDe and USDe assets will be introduced as collateral, alongside backing for an extra yield-generating collateral from Lido, Ether.fi, and Aave. During the third and fourth weeks, the Synthetix Perps market is planned to be activated, pending LP scaling.
Trading rebates are expected to commence in four to six weeks, facilitating gradual expansion of trading with initial open interest constraints to manage risk.
Synthetix has launched on @arbitrum, bringing V3 to the network. This is the first of many stages to fully integrate Synthetix's liquidity layer and support Perps V3 & our derivatives ecosystem.
Depositing ETH, ARB, and USDC will earn users ARB LTIP rewards starting today, June… pic.twitter.com/07Si6wDvTw
— Synthetix 
(@synthetix_io) June 18, 2024
Synthetix Receives 2M ARB Tokens From Arbitrum To Scale V3 And Perps V3
Synthetix is a decentralized finance (DeFi) protocol designed to facilitate the creation of derivative markets through a liquidity layer. Built on Solidity, an open-source programming language, it is compatible with deployment on blockchains that support the Ethereum Virtual Machine (EVM). At its core, Synthetix V3 is a decentralized liquidity provisioning protocol designed for Ethereum and other EVM-compatible blockchains.
Recently, Synthetix received 2 million ARB tokens from Arbitrum following its approval of the LTIP grant proposal. This funding aims to scale up Synthetix V3 and Perps V3 on Arbitrum, offering incentives for both traders and stakers participating in the ecosystem.
The post Synthetix V3 To Deploy On Arbitrum In Multiple Phases appeared first on Metaverse Post.
