Crypto:
30336
Bitcoin:
$65.019
% 0.07
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 65.019
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

Synthetix Launches 12 New Perpetual Futures

Synthetix

Synthetix is excited to expand its cryptocurrency derivatives offerings by launching twelve new perpetual futures markets on its Base platform. The markets now feature high-profile digital assets such as Optimism (OP), Ethena (ENA), Avalanche (AVAX), BNB (BNB), Thorchain (RUNE), Polygon (MATIC), Arbitrum (ARB), Bonk (BONK), Doge (DOGE), Fantom , Pepe (PEPE), and Ordi (ORDI). Approvals for these markets came through SIP-373 and SIP-376, with detailed trading parameters set forth in SCCP-323.

Access New Perpetual Futures on Synthetix Directly

Exclusively on Synthetix Perps on Base, traders can access these markets directly through integrations with platforms like Kwenta. This allows for seamless trading experiences across a variety of digital assets.

Synthetix has outlined specific market parameters such as initial margin ratios, fees, and maximum market sizes in SCCP-323. Liquidity providers play a critical role, earning part of the protocol fees and enhancing liquidity to support larger trades and greater open interest.

Liquidity providers who join the new Spartan Council Pool not only earn trading fees but also receive SNX/USDC rewards, boosting their potential earnings. This incentive aims to increase liquidity, thereby raising trading volumes and paving the way for more markets on Synthetix Perps.

Understand the Risks Before Providing Liquidity

Engaging as a liquidity provider involves certain risks, including potential losses from market imbalances and exposure to smart contract vulnerabilities or collateral (USDC) depegging scenarios. Providers should thoroughly research and consider their capacity to bear such risks before participating.

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For more detailed steps and information, you can check out the full guide on their official page: Synthetix Docs – Base LP Guide.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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