June 18, 2025
The next submit comprises a recap of reports, tasks, and necessary 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: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 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 modifications but, all the pieces stays stay.Put together emigrate sUSD to Mainnet quickly.Instruments and incentives can be out there for a clean transition.What it is advisable 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 a very powerful section of the protocol but!
Spartan Council and SIP updates
Should you’ve been across the Synthetix ecosystem for some time, you’ve most likely heard that Mainnet is the long run. Nicely, it’s not only a speaking level — the transition is going on and it’s occurring now.
Synthetix is formally sunsetting its L2 deployments, beginning with Arbitrum and Base. Optimism will stay stay 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 may probably be a very powerful section 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. Should you nonetheless have funds on Arbitrum, right here’s what it is advisable know:
You’ll must repay any excellent debt and declare your collateral from the treasury. The method is
easy — simply hop into Discord and open a help ticket to start. The clock is ticking, and also you’ve acquired six months to assert 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 focus on what’s developing for these nonetheless on Base. The wind-down on Base is going on in two steps, with key dates that every one merchants and LPs want to pay attention to:
June 30: Perps buying and selling will enter close-only mode, that means you’ll nonetheless have the ability to 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 have the ability to mint new tokens from this level ahead.
July 7: Base can be absolutely deprecated. This contains the entire shutdown of all Perps and Leverage Tokens, and LP vaults can be liquidated. Should you 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. Should you want extra data or assist with the method, the crew is at all times out there on Discord.
At this level, you could be questioning what’s occurring on Optimism — and what, if something, it is advisable do. Proper now, there aren’t any modifications to Synthetix on Optimism, as all the pieces will stay stay and absolutely supported in the interim. However its time will ultimately come!
Whereas there isn’t an official timeline for when Optimism can be deprecated, now is an effective time to start out making ready for the eventual migration to Mainnet if you happen to’re holding any idle sUSD on Optimism. You’ll have the ability 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 potential.
So what’s subsequent for Synthetix? The reply is easy: Mainnet is the place all the pieces is going on. 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 finally, Ethereum L1’s safety and scalability are the place the long run lies.
In brief, right here’s what it is advisable know transferring ahead:
Should you’re nonetheless utilizing Arbitrum, get your collateral and shut any positions. You’ve acquired six months, however don’t wait.Should you’re energetic on Base, don’t overlook the important thing dates: June 30 (close-only, redeem-only) and July 7 (full deprecation). It’s good to shut positions and withdraw funds manually earlier than the deadline to keep away from any issues.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 eventually, if you happen to’re buying and selling or LPing on Mainnet, welcome dwelling. The protocol is happy to have you ever because it heads into this new section! See you on Ethereum.
