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TL;DR Synthetix has proposed acquiring Kwenta, an exchange derived from its ecosystem, to unify operations and enhance services. The acquisition values each KWENTA token at 17 SNX, with a token swap valued at $13.2 million. The integration would involve dissolving Kwenta's governance and merging it with SNX's Spartan Council.

DeFi protocol Synthetix is setting its sights on acquiring Kwenta, a derivatives exchange that emerged from Synthetix itself in 2020. The post Synthetix Eyes Acquisition of Former Spin-Off Kwenta to Bolster DeFi Derivatives appeared first on Cryptonews.

Synthetix, a well-known DeFi protocol for synthetic assets, has just announced the launch of version V3 on the layer-2 blockchain of Arbitrum.

The v3 launch marks the DeFi protocol's first big product rollout after a governance overhaul in October.

The derivatives liquidity protocol Synthetix (SNX) witnessed more development activity than any other project in the decentralized finance (DeFi) sector in the past 30 days, according to the crypto analytics firm Santiment. Synthetix aims to serve as a backend liquidity tool for user-facing DeFi projects, according to the protocol's whitepaper.

The SR-2 proposal wants to address many of the concerns currently dragging down the Synthetix protocol.

Synthetix community approves a major protocol overhaul with 99.4% support, aiming to revitalize the project through token redesign, multi-chain deployment, and governance restructuring.

A new proposal looking to completely reboot DeFi protocol Synthetix has garnered 99.4% approval from community members.

Synthetix, a popular DeFi protocol, is facing challenges regarding its plans for Arbitrum, a layer-2 platform for Ethereum. According to the recent voting results, the community voted against its plans to extend its Long-Term Incentive Program (LTIP) grant.

Snax Chain, built on OP Stack, launches September 15th, integrating Wormhole for secure, decentralized Synthetix V3 governance and cross-chain messaging.

Competition is mounting among DeFi derivatives protocols after Synthetix launched on Arbitrum in July.

Decentralized finance (DeFi) protocol Synthetix (SNX) is working toward launching its application blockchain, dubbed SNAXChain, according to a blog post published on September 4, 2024. Synthetix SNAXChain To Launch On Optimism's Superchain Infrastructure Ethereum-based derivatives liquidity protocol Synthetix is set to unveil SNAXChain, an application blockchain built on Optimism's Superchain infrastructure.

Leading DeFi protocol Synthetix joins Optimism's impressive Superchain line up.

TL;DR Synthetix launches SNAXchain: Built on Optimism's Superchain infrastructure, SNAXchain aims to enhance governance and expand to more chains and Layer 2 solutions. Optimism Superchain benefits: Expected to boost user interoperability and drive growth, leveraging optimistic rollups to reduce transaction costs.

Synthetix has introduced an application-specific blockchain named SNAXchain using Optimism's infrastructure.

Synthetix faces fierce competition on the DeFi-oriented layer-2.

Synthetix faces fierce competition on the DeFi-oriented layer 2.

You may have forgotten about Synthetix, but the market certainly hasn't.

It could be followed with deployments on Optimism and Base.

Synthetix founder Kain Warwick donated $86,000 in Illuvium tokens to former CFO SynthaMan after the latter lost his SNX holdings due to liquidation caused by market volatility and high-risk decisions.

On-chain data shows that Synthetix founder Kain unlocked $6.5 million from the company's treasury and donated $86k to SynthaMan, the company's former treasurer that was liquidated during last week's market plunge.

The crypto market has been observing different kinds of assets take the spotlight every now and then, and the newest addition to this list is Real World Assets (RWA). Joining the Artificial Intelligence (AI) altcoins in terms of popularity and demand, these tokens are a different breed altogether.

The analyst/host of The House of Crypto took to his latest video and said that there's potential for a massive bounce back for altcoins, particularly as Bitcoin dominance appears to be declining. Historically, this has signaled the onset of an altcoin season.