The Synthetix team announced in a tweet on Monday that in preparation for the Ethereum Merge, it would suspend some contracts 3 hours before the event. Furthermore, the SNX token and synths will be transferrable, but other contracts will be suspended. Open positions won't be interactable during the suspension, the team added.
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 down by 1% in the last 24 hours and is trading at $2.924 at press time.