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The newly added markets embody Bittensor (TAO), Chainlink (LINK), GMX (GMX), Injective Protocol (INJ), Axelar (AXL), Sui (SUI), Etherfi (ETHFI), (TIA), Stacks (STX), Arkham (ARKM), Toncoin (TON), Pendle (PENDLE), Gala (GALA), Guide of Meme (BOME).
Synthetix is happy to announce the launch of fourteen new perpetual futures markets on Base.
The newly added markets embody Bittensor (TAO), Chainlink (LINK), GMX (GMX), Injective Protocol (INJ), Axelar (AXL), Sui (SUI), Etherfi (ETHFI), Celestia (TIA), Stacks (STX), Arkham (ARKM), Toncoin (TON), Pendle (PENDLE), Gala (GALA), Guide of Meme (BOME).
These markets had been authorized in SIP-370, SIP-372, SIP-375, SIP-379, SIP-380, with configurable values set by SCCP-327.
Buying and selling Synthetix Perps on Base
The brand new perpetual futures markets are solely obtainable on Synthetix Perps deployed on Base. Merchants can entry these markets by way of platforms integrating with Synthetix Perps on Base, equivalent to Kwenta.
Market Parameters and Liquidity
The precise market parameters for every new perpetual futures market, together with preliminary margin ratios, charges, and most market sizes, will be present in SCCP-327. Liquidity suppliers can earn a share of the protocol charges by offering liquidity to those markets. Elevated LP collateral & liquidity will help greater open curiosity and buying and selling volumes.
Liquidity Suppliers: Earn Charges and Assist Market Progress
Synthetix Perps depends on liquidity suppliers to help perps liquidity. By offering liquidity to the brand new Spartan Council Pool, LPs can earn a portion of the buying and selling charges generated by the protocol. Moreover, Synthetix at present provides liquidity incentives within the type of SNX/USDC rewards for LPs along with the common perps buying and selling charges.
Extra liquidity in these markets will allow greater open curiosity, elevated buying and selling volumes, and the potential for added markets to be launched on Synthetix Perps.
Danger Warning: Offering liquidity will not be risk-free. LPs might expertise losses if market skew is imbalanced. Different dangers embody sensible contract vulnerabilities and collateral (USDC) depegging. As at all times, do your individual analysis and solely deposit what you may afford to lose.
For extra info on the dangers and mechanics of offering liquidity on Synthetix Perps, please seek the advice of the Synthetix Docs.
Any Questions?
Be part of the Synthetix Discord for any questions or issues
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