SNXweave Weekly Recap 188
July 2, 2025 – The Spartan Council and Core Contributors shared key updates:
👉 TLDR
- Synthetix launches a perpetual DEX on Ethereum Mainnet, prioritizing native integration (no bridges or sidechains).
- Major milestones include staking optimizations and ecosystem expansions.
Historical Context:
- Synthetix began with a different whitepaper name, signaling its evolution since inception.
Recent Highlights
SNX Staking Simplified
- Stake SNX seamlessly via Infinex—no wallet switches or extensions required.
- Patron holders can now access exclusive staking features.
Ethereum Mainnet Focus
- "We're going back to Ethereum Mainnet, and everyone is coming with us."
- Deploying high-performance derivatives protocols on Ethereum’s secure settlement layer.
Upcoming Events
- Spartan Space Debate: Perps vs. Options (June 17, 2025).
- Rooftop Event: Co-hosted with Infinex and Panoptic—RSVP now.
Core Developments
Synthetix Mainnet Launch
- The first perps DEX on Ethereum Mainnet aims to unify liquidity and enhance security.
- Blog Insight: "L2s are Dead, Long Live Ethereum" underscores the shift back to Ethereum-native solutions.
sUSD Repegging
- sUSD stabilizes at $1.00 post-SIP-420 adjustments.
- Staking rewards: 5M SNX distributed over 12 weeks for debt-free stakers.
FAQs
Q: How do I stake SNX?
A: Buy SNX, connect your wallet at 420.synthetix.io, and stake to earn rewards.
Q: Why return to Ethereum Mainnet?
A: To reduce fragmentation and leverage Ethereum’s security for high-volume trading.
Q: What’s next for Synthetix?
A: Expanding derivatives offerings, including perps and options, while enhancing staking incentives.
👉 Explore Synthetix Staking for real-time rewards and updates.