June 18, 2025
The next submit incorporates a recap of reports, initiatives, and essential updates from the Spartan Council and Core Contributors from final week.
👉TLDR
Mainnet:Synthetix goes all-in on Ethereum!Finish of June: Early deposit vaults for sUSD and sUSDe.Early members will earn Synthetix factors and get entry to invite-only buying and selling competitions.Arbitrum:Absolutely deprecated.All buying and selling disabled, vaults liquidated.Declare collateral and repay debt inside 6 months.Begin the method in Discord by opening a help ticket.Base:June 30: Perps in close-only mode; Leverage Tokens redeem-only.July 7: Full deprecation; Perps, Leverage Tokens, and LP vaults shut down.Shut positions and withdraw funds manually earlier than July 7 to keep away from points.Optimism:No adjustments but, every thing stays dwell.Put together emigrate sUSD to Mainnet quickly.Instruments and incentives will probably be obtainable for a clean transition.What it’s good to do now:Arbitrum: Declare collateral and shut positions.Base: Be conscious of June 30 and July 7 deadlines for closing positions and withdrawing.Optimism: Begin making ready to bridge sUSD to Ethereum Mainnet.Mainnet: Be part of Synthetix because it transitions to crucial section of the protocol but!
Spartan Council and SIP updates
In case you’ve been across the Synthetix ecosystem for some time, you’ve most likely heard that Mainnet is the long run. Nicely, it’s now not only a speaking level — the transition is going on and it’s taking place now.
Synthetix is formally sunsetting its L2 deployments, beginning with Arbitrum and Base. Optimism will stay dwell for now, however its time is coming. Shifting ahead, Ethereum Mainnet would be the sole focus of improvement, buying and selling, and liquidity. It’s the top of 1 period and the start of one other that may possible be crucial section within the protocol’s historical past.
Let’s first discuss what’s already been decommissioned. The Arbitrum deployment is now totally deprecated. Buying and selling was disabled months in the past, and all remaining vaults have been liquidated. In case you nonetheless have funds on Arbitrum, right here’s what it’s good to know:
You’ll must repay any excellent debt and declare your collateral from the treasury. The method is
simple — simply hop into Discord and open a help ticket to start. The clock is ticking, and also you’ve obtained six months to say what’s yours, so don’t wait till the final minute! For additional particulars, you’ll be able to check with SIP-416.
Subsequent, let’s talk about what’s arising for these nonetheless on Base. The wind-down on Base is going on in two steps, with key dates that each one merchants and LPs want to concentrate on:
June 30: Perps buying and selling will enter close-only mode, which means you’ll nonetheless be capable to shut out your positions, however no new trades could be opened. On the identical day, Leverage Tokens will go redeem-only, so that you gained’t be capable to mint new tokens from this level ahead.
July 7: Base will probably be totally deprecated. This consists of the whole shutdown of all Perps and Leverage Tokens, and LP vaults will probably be liquidated. In case you haven’t manually withdrawn your funds by then, any remaining collateral will probably be returned by the treasury.
To keep away from delays or slippage, be sure that to shut your positions and withdraw your margin earlier than July 7. In case you want extra information or assist with the method, the staff is all the time obtainable on Discord.
At this level, you is likely to be questioning what’s taking place on Optimism — and what, if something, it’s good to do. Proper now, there aren’t any adjustments to Synthetix on Optimism, as every thing will stay dwell and totally supported in the meanwhile. However its time will ultimately come!
Whereas there isn’t an official timeline for when Optimism will probably be deprecated, now is an effective time to begin making ready for the eventual migration to Mainnet if you happen to’re holding any idle sUSD on Optimism. You’ll be capable to bridge your sUSD to Ethereum quickly, the place it is going to be essential for the upcoming perps system. We’ll have extra particulars on this within the coming weeks, together with the instruments and incentives to make the migration as seamless as doable.
So what’s subsequent for Synthetix? The reply is easy: Mainnet is the place every thing is going on. The protocol goes all-in on Ethereum Mainnet, and that’s the place the event efforts will probably be targeted from right here on out. This isn’t simply one other deployment on Ethereum, it’s a full pivot.
Beginning on the finish of June, Synthetix will probably be launching early deposit vaults for sUSD and sUSDe. Early members will probably be rewarded with Synthetix factors, and the protocol will probably be internet hosting invite-only buying and selling competitions the place you will get early entry to the brand new perps system. That is the second the place Synthetix goes all-in on the high-performance, totally composable perps DEX that Ethereum has been ready for.
The shift away from rollups isn’t just about simplifying the system — it’s about taking management. Rollups gave the protocol some nice classes, however in the end, Ethereum L1’s safety and scalability are the place the long run lies.
In brief, right here’s what it’s good to know shifting ahead:
In case you’re nonetheless utilizing Arbitrum, get your collateral and shut any positions. You’ve obtained six months, however don’t wait.In case you’re energetic on Base, don’t overlook the important thing dates: June 30 (close-only, redeem-only) and July 7 (full deprecation). You want to shut positions and withdraw funds manually earlier than the deadline to keep away from any issues.For these nonetheless on Optimism, you’re tremendous for now, however don’t sleep on the upcoming migration. Be ready to bridge your sUSD to Mainnet when the time comes.
And at last, if you happen to’re buying and selling or LPing on Mainnet, welcome dwelling. The protocol is worked up to have you ever because it heads into this new section! See you on Ethereum.
