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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.

TL;DR The real-world asset (RWA) token market is growing exponentially in 2024, thanks to the convergence of blockchain technology and traditional assets. Tokens such as Maker, Chainlink, and Algorand stand out for their unique propositions and potential to facilitate investment in real estate, art, and music through decentralized platforms.

Avalanche (AVAX), the leader of the Real-World Asset token category, currently has a valuation of $13.7 billion. Real-world assets (RWA) represent physical assets, like real estate or commodities, digitally tokenized on a blockchain, providing fractional ownership and liquidity.

As the first half of 2024 draws near, the cryptocurrency market has seen a significant sell-off, eroding the market capitalization of many assets.

As the Bitcoin and Ethereum price aims for a bullish week, the altcoins siphon additional momentum in the market for a quick jump. With a trend reversal anticipation in Synthetix and the bull run gaining momentum in ENS, the buyers expect a massive jump this week.

Synthetix (SNX) and Aave (AAVE) are both flat on the day, but green in the past week. SNX is 7% up while AAVE is holding onto double-digit gains as the latest news around Ethereum spot ETFs drives interest in related altcoins.

Synthetix (SNX) and Aave (AAVE) are both trading higher today, with 6% and 4% in 24-hour gains respectively. With the US Security and Exchange Commission (SEC) expected to make an announcement today, it could be a massive pump for SNX and AAVE. Meanwhile, Bitbot (BITBOT), a new project that just hit $3.

Key Takeaways At press time, SNX was up 466% from its initial listing price of $0.46 and down 91% from its all-time high. These statistics are evidence of SNX's highly volatile nature.

The depeg situation of Synthetix's sUSD has once again highlighted the vulnerabilities within DeFi systems and the impacts of liquidity shifts.

According to current market prices, the synthetix usd (SUSD) stablecoin has fallen from its intended $1 parity. Charts show the token dipped to a low of $0.915 and is now trading at $0.958 per unit as of 8 a.m. EDT on Friday. SUSD Stablecoin Plunges to $0.

Synthetix's decentralized stablecoin, sUSD, fell below its $1 peg — reaching as low as $0.92 before slightly covering to $0.96.

In an era where decentralized finance (DeFi) is transforming the traditional financial world, Synthetix founder Kain Warwick has launched a new platform called Infinex.

The developers at Synthetix have rolled out Infinex — a front-end site for that unifies DeFi ecosystems under a user-friendly layer.

Renowned blockchain entrepreneur and investor summarizes his thoughts on capital formation incentives in crypto, natural rivalry between VCs and retail investors, evergreen indicators for seed round participants and tough times for early-stage fundraising.

Following the mixed cues received from the market throughout March and April, some cryptos shot up while some came closer to making new bearish records.

SNX Price Prediction 2024-2033 Synthetix is developing a decentralized liquidity provisioning protocol that is accessible to various platforms. It boasts substantial liquidity and minimal fees, making it an attractive backend for numerous protocols on both Optimism and Ethereum.

Synthetix V3 on Arbitrum gains full community support for deploying.

Osmosis has been identified as the DeFi project with the highest level of development activity, contrasting with Uniswap, which has shown slower progress.

TL;DR Osmosis, dydX, and Synthetix are leading the pack in the DeFi sector with the most active development. Osmosis, a Decentralized Exchange (DEX) on the Cosmos network, has seen over 169 commits on GitHub in the last 30 days.

The decentralized Cosmos exchange Osmosis has been listed as the most actively developed DeFi project in the last month.

Despite Bitcoin's slump, altcoins are providing an opportunity for investors.

With the Bitcoin price crashing back under the $62,000 mark, the altcoins are falling quickly and ready to test crucial support zones. Amidst this correction, smart money finds great entry opportunities to capitalize on the pullback.

As the crypto industry is bringing new multi-baggers in a plethora of digital assets, the sideline players are looking for old diamonds. Amidst such a rush, the Synthetix (SNX) stands out as a top contender with immense underlying potential.

The cryptocurrency market is abuzz with anticipation as Ethereum's Dencun upgrade approaches, slated for March 13. This upgrade promises better usability, security, and fast transactions, potentially sparking a new altcoin season.

Decentralised Exchange (DEX) tokens were among the best performers on Saturday. Uniswap (UNI) token soared by more than 70% while dYdX, Synthetix (SNX), PancakeSwap (CAKE), and THORChain (RUNE) soared by more than 30%. DeFi tokens like AAVE and Lido DAO were among the best performers.