Hassan Maishera
On Wednesday, the Synthetix team announced via a blog post that multicollateral margin is now live on Synthetix, and ETH is the first non-USDT asset that users can post as collateral.
Users can now utilize ETH as native collateral for trading perps on the Ethereum Mainnet. Deposit ETH, trade any market, and manage everything from a unified multicollateral margin account, without ever touching your ETH stack.
A few of the ways to use it:
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Maintain exposure: Use ETH as margin when you'd rather maintain exposure to ETH instead of making deposits in stables.
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One account, every market: Your ETH and USDT collateral fund any USDT-settled market on the exchange.
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Avoid unnecessary selling: Trade perps without liquidating spot holdings, and the added taxable events that come with it.
Synthetix is an Ethereum-based protocol for issuing and trading synthetic assets, including cryptocurrencies, leveraged tokens, equities, and other real-world assets.
Synthetix is a decentralized perpetual futures protocol built on the Ethereum Mainnet. Synthetix Exchange uses a hybrid design — off-chain order matching on a high-performance CLOB with on-chain settlement — to deliver low latency, deep liquidity, and MEV-resistant execution while keeping custody and finality on Ethereum. Traders get CEX-like performance with on-chain security and composability.
Synthetix is powered by SNX stakers (who secure the protocol and govern it), SLP depositors (who supply capital to the SLP community market-making vault), and a broader community of builders. The protocol evolved from its early “synths” model (v2) to Perps and a modular v3 architecture that supports cross-margining and multiple collateral types, with the primary focus now back on Ethereum Mainnet.
SNX, the native token of Synthetix, is down 6.4% in the last 24 hours and is trading at $0.2591 at press time.
