June 18, 2025
The next submit comprises a recap of reports, initiatives, and vital 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 members will earn Synthetix factors and get entry to invite-only buying and selling competitions.Arbitrum:Totally deprecated.All buying and selling disabled, vaults liquidated.Declare collateral and repay debt inside 6 months.Begin the method in Discord by opening a assist 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, every little thing stays reside.Put together emigrate sUSD to Mainnet quickly.Instruments and incentives might be obtainable for a easy transition.What it’s essential to do now:Arbitrum: Declare collateral and shut positions.Base: Be aware of June 30 and July 7 deadlines for closing positions and withdrawing.Optimism: Begin getting 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
When you’ve been across the Synthetix ecosystem for some time, you’ve most likely heard that Mainnet is the longer term. Effectively, it’s not only a speaking level — the transition is occurring and it’s occurring now.
Synthetix is formally sunsetting its L2 deployments, beginning with Arbitrum and Base. Optimism will stay reside 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. When you nonetheless have funds on Arbitrum, right here’s what it’s essential to 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 assist 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 consult with SIP-416.
Subsequent, let’s focus on what’s developing for these nonetheless on Base. The wind-down on Base is occurring in two steps, with key dates that each one merchants and LPs want to concentrate on:
June 30: Perps buying and selling will enter close-only mode, that means you’ll nonetheless be capable to shut out your positions, however no new trades may be opened. On the identical day, Leverage Tokens will go redeem-only, so that you gained’t be capable to mint new tokens from this level ahead.
July 7: Base might be absolutely deprecated. This contains the entire shutdown of all Perps and Leverage Tokens, and LP vaults might be liquidated. When you haven’t manually withdrawn your funds by then, any remaining collateral might be returned by the treasury.
To keep away from delays or slippage, make sure that to shut your positions and withdraw your margin earlier than July 7. When you want extra information or assist with the method, the crew is at all times obtainable on Discord.
At this level, you could be questioning what’s occurring on Optimism — and what, if something, it’s essential to do. Proper now, there are not any modifications to Synthetix on Optimism, as every little thing will stay reside and absolutely supported in the meanwhile. However its time will ultimately come!
Whereas there isn’t an official timeline for when Optimism might be deprecated, now is an efficient time to start out getting ready for the eventual migration to Mainnet in case you’re holding any idle sUSD on Optimism. You’ll be capable to bridge your sUSD to Ethereum quickly, the place it will likely 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 every little thing is occurring. The protocol goes all-in on Ethereum Mainnet, and that’s the place the event efforts might be centered 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 might be launching early deposit vaults for sUSD and sUSDe. Early members might be rewarded with Synthetix factors, and the protocol might 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 in the end, Ethereum L1’s safety and scalability are the place the longer term lies.
Briefly, right here’s what it’s essential to know shifting ahead:
When you’re nonetheless utilizing Arbitrum, get your collateral and shut any positions. You’ve acquired six months, however don’t wait.When you’re energetic on Base, don’t neglect the important thing dates: June 30 (close-only, redeem-only) and July 7 (full deprecation). You want to shut positions and withdraw funds manually earlier than the deadline to keep away from any problems.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 at last, in case you’re buying and selling or LPing on Mainnet, welcome residence. The protocol is worked up to have you ever because it heads into this new section! See you on Ethereum.
