According to Foresight News, Synthetix announced that it is shifting the operational focus of its perpetual contract market to the Base network. The perpetual contract market on its Arbitrum will be closed and is currently set to liquidation-only mode. Users cannot open new positions or increase existing positions. USDx on Arbitrum needs to be withdrawn along with the Arbitrum perpetual contract product. Synthetix Treasury purchased USDx from the open market and funded a wrapper to support the exchange of USDx for USDe.
Synthetix encourages traders to migrate transactions to the Base network. All Arbitrum markets are available on Base, and traders can cross-chain funds directly from its Swap interface.
