Epoch 2 rewards have been distributed for Synthetix Perps traders on @base.

Synthetix Perps traders between 5/29 and 6/5 have received their trading fee rebates.

Epoch 3 is already underway. Trade Synthetix Perps on Base to receive rebates equal to 90% of trading fees.

Experience the benefits of the best fully onchain, decentralized trading protocol with deep liquidity across 30+ markets.

Epoch 1 rewards have been distributed for Synthetix Perps traders on @base.

Traders who used @Kwenta_io to trade Synthetix Perps on Base in Week 1 (5/22 - 5/29) have received their share of ~22k SNX in trading fee rebates.

Epoch 2 is already underway.

Trade Synthetix Perps on Base to receive rebates equal to 90% of trading fees. Experience the benefits of the best fully onchain, decentralized trading protocol with deep liquidity across 30+ markets.

500,000 SNX in total has been allocated for this program, with up to 50,000 SNX available weekly.

🚨 Synthetix community, the Pyth Governance Distribution is live! 🎉

If you've been actively participating in governance by:

- Posting in gov channels
- Voting on SIPs/SCCPs
- Serving on a DAO body
- Creating proposals
You might be eligible for $PYTH .

Check out the blog post in the next tweet for more details and instructions on how to claim your tokens.

Let's strengthen the partnership between Synthetix and Pyth by bootstrapping their governance with our most active community members!

Please Note:

- Unclaimed tokens will be returned to the Synthetix Treasury after 28 days.

- This distribution is only a portion of the total Pyth tokens allocated to the Synthetix community. There will be multiple future distributions for various participants, including stakers who've voted in Synthetix governance elections.

Transitioning to Synthetix V3: Scaling sUSD & Migrating SNX

Synthetix is undergoing a pivotal phase of the V3 rollout, introducing a new foundation and architecture for the protocol. This transition also marks a significant step towards enhancing the scalability and decentralization of the Synthetix stablecoin, sUSD.

Key Changes:
- Accelerating Real Yield: V3 replaces inflationary SNX rewards with real yield from trading fees and a buyback/burn mechanism to reduce SNX supply.
- sUSD Collateralization: sUSD will be backed by diverse assets like SNX, ETH, USDC, and yield-generating collateral, increasing scalability.
- Simplified LPing: Delta-neutral design for Synthetix Perps & Spot Markets makes participation easier.

sUSD Incentives (Starting Next Week):
- @VelodromeFi (Optimism): +10,000 OP/week for sUSD/USDC liquidity
- @CurveFinance (Ethereum): +20,000 SNX/week for sUSD liquidity pools

Migration Plan:
- June: Migration to V3 begins
- Two Phases:
1. Ethereum Mainnet: SNX stakers migrate in June.
2. Optimism: Migration extends to Optimism SNX stakers post-Ethereum.

Mechanics (SIP-306):
- SNX Migration: Seamless transition from V2X to V3 without burning staker sUSD debt.
- sUSD Migration: sUSD is upgraded in V3, backed by multiple assets for better stability and resilience.
- sUSD & SNX in V2X will be migrated 1:1 in V3.

Learn more in the next tweet.