The newly added markets embrace Bittensor (TAO), Chainlink (LINK), GMX (GMX), Injective Protocol (INJ), Axelar (AXL), Sui (SUI), Etherfi (ETHFI), (TIA), Stacks (STX), Arkham (ARKM), Toncoin (TON), Pendle (PENDLE), Gala (GALA), Guide of Meme (BOME).
Synthetix is happy to announce the launch of fourteen new perpetual futures markets on Base.
The newly added markets embrace Bittensor (TAO), Chainlink (LINK), GMX (GMX), Injective Protocol (INJ), Axelar (AXL), Sui (SUI), Etherfi (ETHFI), Celestia (TIA), Stacks (STX), Arkham (ARKM), Toncoin (TON), Pendle (PENDLE), Gala (GALA), Guide of Meme (BOME).
These markets have been accredited in SIP-370, SIP-372, SIP-375, SIP-379, SIP-380, with configurable values set by SCCP-327.
Buying and selling Synthetix Perps on Base
The brand new perpetual futures markets are solely accessible on Synthetix Perps deployed on Base. Merchants can entry these markets by means of platforms integrating with Synthetix Perps on Base, resembling Kwenta.
Market Parameters and Liquidity
The particular market parameters for every new perpetual futures market, together with preliminary margin ratios, charges, and most market sizes, will be present in SCCP-327. Liquidity suppliers can earn a share of the protocol charges by offering liquidity to those markets. Elevated LP collateral & liquidity will help larger open curiosity and buying and selling volumes.
Liquidity Suppliers: Earn Charges and Help Market Development
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 along with the common perps buying and selling charges.
Extra liquidity in these markets will allow larger open curiosity, elevated buying and selling volumes, and the potential for added markets to be launched on Synthetix Perps.
Danger Warning: Offering liquidity will not be risk-free. LPs could expertise losses if market skew is imbalanced. Different dangers embrace sensible contract vulnerabilities and collateral (USDC) depegging. As all the time, do your individual analysis and solely deposit what you may 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 issues
