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New Synthetix Perps Markets on Base: SNX, SOL, WIF, and W

6 April 2024
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Synthetix is happy to announce the launch of 4 new perpetual futures markets on Synthetix Perps, solely on Base. The newly added markets embody Synthetix (SNX), Solana (SOL), Dogwifhat (WIF), and Wormhole (W). These markets had been permitted 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 by means of platforms integrating with Synthetix Perps on Base, reminiscent of 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, could 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 help greater open curiosity and buying and selling volumes.

Liquidity Suppliers: Earn Charges and Assist Market Progress

Synthetix Perps depends on liquidity suppliers to help 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 the moment provides liquidity incentives within the type of SNX/USDC rewards for LPs on prime of the common perps buying and selling charges.

Extra liquidity in these markets will allow greater open curiosity, elevated buying and selling volumes, and the potential for extra markets to be launched on Synthetix Perps. 

Danger Warning: Offering liquidity just isn’t risk-free. LPs could expertise losses if market skew is imbalanced. Different dangers embody good contract vulnerabilities and collateral (USDC) depegging. As all the time, do your individual analysis and solely deposit what you possibly can 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 considerations.



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Tags: BaseMarketsPerpsSNXSOLSynthetixWIF
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