According to Foresight News, Synthetix, a synthetic asset protocol, has announced that it will cease the exchange of synthetic currencies other than sUSD on Ethereum and will migrate users to the V3 system. Users holding sETH, sBTC, or other spot synthetic assets other than sUSD are required to exchange them before April 15. After this date, any remaining non-US dollar spot synthetic currencies can only be redeemed through the L1 redemption contract at Chainlink's price for sUSD.
The official statement indicated that migrating liquidity to sUSD will help introduce sUSD liquidity and increase activity on Synthetix V3. This move is seen as a strategic step to enhance the functionality and user experience of the Synthetix platform.
