June 18, 2025
The next submit accommodates a recap of stories, tasks, and essential 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 contributors will earn Synthetix factors and get entry to invite-only buying and selling competitions.Arbitrum:Totally deprecated.All buying and selling disabled, vaults liquidated.Declare collateral and repay debt inside 6 months.Begin the method in Discord by opening a help 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 adjustments but, all the pieces stays reside.Put together emigrate sUSD to Mainnet quickly.Instruments and incentives can be obtainable for a easy transition.What you’ll want to do now:Arbitrum: Declare collateral and shut positions.Base: Be aware of June 30 and July 7 deadlines for closing positions and withdrawing.Optimism: Begin getting ready to bridge sUSD to Ethereum Mainnet.Mainnet: Be part of Synthetix because it transitions to crucial part of the protocol but!
Spartan Council and SIP updates
If you happen to’ve been across the Synthetix ecosystem for some time, you’ve in all probability heard that Mainnet is the long run. Effectively, it’s now 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 reside for now, however its time is coming. Transferring ahead, Ethereum Mainnet would be the sole focus of improvement, buying and selling, and liquidity. It’s the tip of 1 period and the start of one other that may possible be crucial 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. If you happen to nonetheless have funds on Arbitrum, right here’s what you’ll want to know:
You’ll must repay any excellent debt and declare your collateral from the treasury. The method is
simple — simply hop into Discord and open a help ticket to start. The clock is ticking, and also you’ve received six months to say what’s yours, so don’t wait till the final minute! For additional particulars, you’ll be able to confer with SIP-416.
Subsequent, let’s talk about what’s developing 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 concentrate on:
June 30: Perps buying and selling will enter close-only mode, which means you’ll nonetheless be capable to shut out your positions, however no new trades will be opened. On the identical day, Leverage Tokens will go redeem-only, so that you received’t be capable to mint new tokens from this level ahead.
July 7: Base can be absolutely deprecated. This contains the whole shutdown of all Perps and Leverage Tokens, and LP vaults can be liquidated. If you happen to haven’t manually withdrawn your funds by then, any remaining collateral can be returned by the treasury.
To keep away from delays or slippage, ensure to shut your positions and withdraw your margin earlier than July 7. If you happen to want extra data or assist with the method, the staff is at all times obtainable on Discord.
At this level, you could be questioning what’s taking place on Optimism — and what, if something, you’ll want to do. Proper now, there aren’t any adjustments to Synthetix on Optimism, as all the pieces will stay reside and absolutely supported in the interim. However its time will finally come!
Whereas there isn’t an official timeline for when Optimism can be deprecated, now is an effective time to begin getting ready for the eventual migration to Mainnet in the event you’re holding any idle sUSD on Optimism. You’ll be capable to bridge your sUSD to Ethereum quickly, the place it is going to 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 doable.
So what’s subsequent for Synthetix? The reply is easy: Mainnet is the place all the pieces is occurring. The protocol goes all-in on Ethereum Mainnet, and that’s the place the event efforts can be targeted 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 can be launching early deposit vaults for sUSD and sUSDe. Early contributors can be rewarded with Synthetix factors, and the protocol can 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 in the end, Ethereum L1’s safety and scalability are the place the long run lies.
Briefly, right here’s what you’ll want to know transferring ahead:
If you happen to’re nonetheless utilizing Arbitrum, get your collateral and shut any positions. You’ve received six months, however don’t wait.If you happen to’re energetic on Base, don’t overlook 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 issues.For these nonetheless on Optimism, you’re wonderful for now, however don’t sleep on the upcoming migration. Be ready to bridge your sUSD to Mainnet when the time comes.
And eventually, in the event you’re buying and selling or LPing on Mainnet, welcome residence. The protocol is worked up to have you ever because it heads into this new part! See you on Ethereum.
