Hassan Maishera
On Monday, the Synthetix team announced via a blog post that Synthetix is coming home to the Ethereum Mainnet. By early Q4, Synthetix will have launched the first Ethereum Mainnet settled CLOB perp exchange. A hybrid onchain-offchain architecture that allows Synthetix to overcome Ethereum Mainnet’s block latency and significant gas costs.
Synthetix’s CLOB will:
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Operate on Ethereum Mainnet, the most liquid and secure blockchain.
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Accept deposits in a permissionless and non-custodial manner. Assets will remain in decentralised custody (e.g., smart contracts) until settlement.
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Operate an offchain matching engine to provide CEX-level execution (latency and throughput).
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Offer gas-less trading and free withdrawals (with limits).
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Only display Level 2 order book data (i.e., quantity of asset available at each price level).
Synthetix is an Ethereum-based protocol for issuing and trading synthetic assets, including cryptocurrencies, leveraged tokens, equities, and other real-world assets. SNX, the native token of Synthetix, is up 2.4% in the last 24 hours and is trading at $0.604 at press time.
