$SNX
Synthetix has acquired the main perpetual contract trading platform Kwenta in its ecosystem through a token swap transaction. This transaction has been approved by the Spartan Council's SIP-411 and the Kwenta Council's KIP-138. This acquisition marks an important step for Synthetix in expanding its capabilities and creating value for SNX token holders. Through this acquisition, Synthetix aims to reimagine a high-performance decentralized derivatives exchange and understand why decentralized derivatives exchanges struggle to compete effectively with centralized counterparts. Acquiring Kwenta will help Synthetix become an industry innovator again in the DeFi space, driving the development of DeFi and increasing market share.
