June 18, 2025
The next publish accommodates a recap of stories, initiatives, and vital updates from the Spartan Council and Core Contributors from final week.
👉TLDR
Mainnet:Synthetix goes all-in on Ethereum!Finish of June: Early deposit vaults for sUSD and sUSDe.Early individuals will earn Synthetix factors and get entry to invite-only buying and selling competitions.Arbitrum:Absolutely deprecated.All buying and selling disabled, vaults liquidated.Declare collateral and repay debt inside 6 months.Begin the method in Discord by opening a assist ticket.Base:June 30: Perps in close-only mode; Leverage Tokens redeem-only.July 7: Full deprecation; Perps, Leverage Tokens, and LP vaults shut down.Shut positions and withdraw funds manually earlier than July 7 to keep away from points.Optimism:No modifications but, every thing stays dwell.Put together emigrate sUSD to Mainnet quickly.Instruments and incentives shall be obtainable for a easy transition.What it’s essential do now:Arbitrum: Declare collateral and shut positions.Base: Be conscious of June 30 and July 7 deadlines for closing positions and withdrawing.Optimism: Begin making ready to bridge sUSD to Ethereum Mainnet.Mainnet: Be a part of Synthetix because it transitions to an important part of the protocol but!
Spartan Council and SIP updates
When you’ve been across the Synthetix ecosystem for some time, you’ve in all probability heard that Mainnet is the long run. Properly, it’s not only a speaking level — the transition is occurring and it’s taking place now.
Synthetix is formally sunsetting its L2 deployments, beginning with Arbitrum and Base. Optimism will stay dwell for now, however its time is coming. Shifting ahead, Ethereum Mainnet would be the sole focus of growth, buying and selling, and liquidity. It’s the top of 1 period and the start of one other that can probably be an important part within the protocol’s historical past.
Let’s first discuss what’s already been decommissioned. The Arbitrum deployment is now absolutely deprecated. Buying and selling was disabled months in the past, and all remaining vaults have been liquidated. When you nonetheless have funds on Arbitrum, right here’s what it’s essential know:
You’ll have to repay any excellent debt and declare your collateral from the treasury. The method is
easy — simply hop into Discord and open a assist ticket to start. The clock is ticking, and also you’ve acquired six months to say what’s yours, so don’t wait till the final minute! For additional particulars, you’ll be able to seek advice from SIP-416.
Subsequent, let’s focus on what’s arising for these nonetheless on Base. The wind-down on Base is occurring in two steps, with key dates that each one merchants and LPs want to pay attention to:
June 30: Perps buying and selling will enter close-only mode, which means you’ll nonetheless be capable of shut out your positions, however no new trades might be opened. On the identical day, Leverage Tokens will go redeem-only, so that you received’t be capable of mint new tokens from this level ahead.
July 7: Base shall be absolutely deprecated. This consists of the whole shutdown of all Perps and Leverage Tokens, and LP vaults shall be liquidated. When you haven’t manually withdrawn your funds by then, any remaining collateral shall be returned by the treasury.
To keep away from delays or slippage, be certain to shut your positions and withdraw your margin earlier than July 7. When you want extra information or assist with the method, the staff is at all times obtainable on Discord.
At this level, you is perhaps questioning what’s taking place on Optimism — and what, if something, it’s essential do. Proper now, there are not any modifications to Synthetix on Optimism, as every thing will stay dwell and absolutely supported in the meanwhile. However its time will ultimately come!
Whereas there isn’t an official timeline for when Optimism shall be deprecated, now is an effective time to begin making ready for the eventual migration to Mainnet for those who’re holding any idle sUSD on Optimism. You’ll be capable of bridge your sUSD to Ethereum quickly, the place it will likely be essential for the upcoming perps system. We’ll have extra particulars on this within the coming weeks, together with the instruments and incentives to make the migration as seamless as potential.
So what’s subsequent for Synthetix? The reply is straightforward: Mainnet is the place every thing is occurring. The protocol goes all-in on Ethereum Mainnet, and that’s the place the event efforts shall be centered from right here on out. This isn’t simply one other deployment on Ethereum, it’s a full pivot.
Beginning on the finish of June, Synthetix shall be launching early deposit vaults for sUSD and sUSDe. Early individuals shall be rewarded with Synthetix factors, and the protocol shall be internet hosting invite-only buying and selling competitions the place you will get early entry to the brand new perps system. That is the second the place Synthetix goes all-in on the high-performance, absolutely composable perps DEX that Ethereum has been ready for.
The shift away from rollups isn’t just about simplifying the system — it’s about taking management. Rollups gave the protocol some nice classes, however finally, Ethereum L1’s safety and scalability are the place the long run lies.
Briefly, right here’s what it’s essential know shifting ahead:
When you’re nonetheless utilizing Arbitrum, get your collateral and shut any positions. You’ve acquired six months, however don’t wait.When you’re lively on Base, don’t neglect the important thing dates: June 30 (close-only, redeem-only) and July 7 (full deprecation). You must shut positions and withdraw funds manually earlier than the deadline to keep away from any problems.For these nonetheless on Optimism, you’re high quality for now, however don’t sleep on the upcoming migration. Be ready to bridge your sUSD to Mainnet when the time comes.
And at last, for those who’re buying and selling or LPing on Mainnet, welcome house. The protocol is worked up to have you ever because it heads into this new part! See you on Ethereum.
