Synthetix is happy to announce the launch of 4 new perpetual futures markets on Synthetix Perps, completely on Base. The newly added markets embrace Synthetix (SNX), Solana (SOL), Dogwifhat (WIF), and Wormhole (W). These markets have been accepted in SIP-363 and SIP-368, with configurable values set by SCCP-316.
Buying and selling Synthetix Perps on Base
The brand new SNX, SOL, WIF, and W perpetual futures markets are solely obtainable on Synthetix Perps deployed on Base. Merchants can entry these markets via platforms integrating with Synthetix Perps on Base, similar to Kwenta.
Market Parameters and Liquidity
The precise market parameters for every new perpetual futures market, together with preliminary margin ratios, charges, and most market sizes, will be present in SCCP-316. Liquidity suppliers can earn a share of the protocol charges by offering liquidity to those markets. Elevated LP collateral & liquidity will assist increased open curiosity and buying and selling volumes.
Liquidity Suppliers: Earn Charges and Help Market Progress
Synthetix Perps depends on liquidity suppliers to assist perps liquidity. By offering liquidity to the brand new Spartan Council Pool, LPs can earn a portion of the buying and selling charges generated by the protocol. Moreover, Synthetix at present presents liquidity incentives within the type of SNX/USDC rewards for LPs on high of the common perps buying and selling charges.
Extra liquidity in these markets will allow increased open curiosity, elevated buying and selling volumes, and the potential for added markets to be launched on Synthetix Perps.
Threat Warning: Offering liquidity shouldn’t be risk-free. LPs might expertise losses if market skew is imbalanced. Different dangers embrace sensible contract vulnerabilities and collateral (USDC) depegging. As all the time, do your personal analysis and solely deposit what you’ll be able to afford to lose.
For extra info on the dangers and mechanics of offering liquidity on Synthetix Perps, please seek the advice of the Synthetix Docs.
Any Questions?
Be part of the Synthetix Discord for any questions or issues.
