Synthetix is bringing the primary perp DEX to Ethereum Mainnet in This fall 2025, launching with a landmark buying and selling competitors. We offer the capital, you make the trades. The winner will take dwelling $1,000,000.
This competitors serves as a proving floor for our expertise, infrastructure, and integrators, and incorporates your suggestions to fine-tune the expertise earlier than launch.
The competitors will likely be open to 100 of the highest merchants, pre-depositors, and historic Synthetix customers – extra particulars on how you can qualify beneath.
The motion kicks off in October (particular date TBA) and can run for a full month, pitting merchants and group members in opposition to one another in a battle of ability, technique, and market mastery.
For many who want a fast refresher, our new perps product represents a leap ahead in DeFi buying and selling. Synthetix is constructing the primary high-performance perp to settle instantly on Ethereum Mainnet, with out the necessity for bridges or intermediaries.
Synthetix mainnet options quick execution, low latency, and on-chain custody that leverages Ethereum’s sturdy safety and liquidity. Try our current weblog submit for extra data: Synthetix is Coming House.Â
Stroll away with $1,000,000
Compete in opposition to the highest merchants in crypto in your probability to stroll away with $1m. Prizes embrace:
1st Place: $1,000,000 – And supreme bragging rights2nd – third Place: 25k SNX and 5 Infinex Patrons4th – fifth Place: 10k SNX and a couple of Infinex Patrons6th – tenth Place: 5k SNX and 1 Infinex Patron
You learn that proper – members have a ten% probability of successful, with the first-place winner taking dwelling $1 million just by doing what they do greatest and proving they’re really on the high of the commerce sport.
Winners will likely be introduced shortly after the competitors wraps up in November 2025, with prizes distributed instantly on-chain.
For depositors who don’t make it into the competitors, you’ll proceed incomes factors by the Season Zero marketing campaign so long as you preserve your deposits.
How the Competitors Works
We have curated an elite lineup of members to make sure the best stage of competitors and insightful suggestions. The roster contains:
50 Prime Merchants: Invite-only spots reserved for influential voices within the crypto area. These consultants will convey their buying and selling prowess and distinctive views to the forefront, amplifying the occasion’s attain and impression.30 Pre-Winners: Open to the broader group! To qualify, customers should make pre-deposits into Synthetix’s sUSD or sUSDe vaults. Winners will likely be chosen primarily based on deposit quantities (20 sUSD winners and 10 sUSDe winners). To stay eligible for prizes all through the competitors, depositors should preserve their pre-deposit steadiness within the vaults. 5 Pre-Deposit Lottery Winners: For each $1,000 of sUSD or sUSDe in Synthetix’s pre-deposit vaults, depositors will get a lottery ticket.  Prime 10 Kwenta Level Holders: Kwenta level holders have been our largest merchants and supporters prior to now, bringing nice quantity and sharing suggestions for the protocol. Welcome again Kwentoids/Spartans.5 Kwenta Level Holder Lottery Winners: Kwenta level holders could have the prospect to win entry by a lottery course of.
Pre-Deposit and lottery winners will likely be chosen September twenty fourth at 00:00 UTC, and all pre-depositors will earn Synthetix factors. Deposit now.
Every of the 100 chosen merchants will likely be seeded with margin collateral supplied solely to be used within the buying and selling competitors. This capital can’t be withdrawn, however merchants maintain any prizes they win primarily based on their ultimate efficiency.
The target? Have the biggest margin steadiness on the finish of the buying and selling competitors.
Buying and selling will deal with a curated number of perp markets, together with main crypto belongings like BTC, ETH, XRP, BNB, SOL, DOGE, SUI, and ENA. Anticipate real-time leaderboards, group updates, and even dwell streams that includes Dealer commentary to maintain the thrill buzzing.
Why This Competitors Issues
At Synthetix, we’re severe about constructing cutting-edge merchandise and stress-testing them in real-world circumstances to make sure they’re battle-ready. This buying and selling competitors is designed with a number of objectives in thoughts:
Product Testing: Merchants will put our new perps to the last word take a look at, executing trades, managing positions, and exploring options like leveraged perpetual contracts on a wide range of belongings. By simulating high-volume buying and selling eventualities, we’ll collect invaluable information to refine the product.Infrastructure Hardening: Earlier than our full Mainnet rollout, we have to iron out any kinks in our methods. This occasion will assist us scale our infrastructure, guaranteeing it could possibly deal with the calls for of a world consumer base with out compromising on velocity or reliability.Market Maker Integrations: Our companions and market makers could have the chance to fine-tune their integrations, optimizing liquidity provision and order routing for smoother operations post-launch.SLP Neighborhood Market Making Vault Testing: A key spotlight is the mixing with our SLP (Synthetix Liquidity Supplier) group market-making vault. Individuals will work together with this vault, serving to us validate its efficiency in dwell buying and selling environments and fostering community-driven liquidity.
Crush the competitors and assist make Synthetix perps the gold commonplace for buying and selling in DeFi.
Methods to Get Concerned
In case you’re a high dealer all in favour of an invitation, please attain out and regulate your DMs. Our crew will likely be reaching out to pick out people within the coming weeks. For the pre-deposit slots, head over to the Synthetix app to enter, or take a look at our Discord for step-by-step directions on how you can qualify. Deposits at the moment are open, act to safe your spot!
This buying and selling competitors marks a pivotal chapter for Synthetix as we absolutely embrace Ethereum Mainnet’s potential. Whether or not you are a seasoned dealer, a market maker, or a DeFi newcomer, that is your probability to be a part of historical past and assist convey a perp to Ethereum Mainnet.
Whether or not you are buying and selling or simply vibing, you possibly can be part of the enjoyable by following alongside on our social channels. We’ll be sharing updates, dealer spotlights, and behind-the-scenes insights all through the occasion.
Be a part of the dialog: discord.gg/synthetixSubscribe to Telegram: t.me/+v80TVt0BJN80Y2YxFollow on X: x.com/synthetix_io
