Synthetix is bringing the primary perps DEX to Ethereum Mainnet in This fall 2025, launching with a landmark buying and selling competitors. We offer the capital, you make the trades. The winner will take residence $1m. This competitors serves as a proving floor for our expertise, infrastructure and integrators, and incorporates your suggestions to fine-tune the expertise earlier than launch.
100 of the highest merchants, pre-depositors, and historic Synthetix customers will face off in a face to face battle. The motion kicks off in October (particular date TBA) and can run for a full month, pitting merchants and group members towards one another in a battle of talent, technique, and market mastery. Learn the way to qualify beneath.
For many who want a fast refresher, our new perps product represents a leap ahead in DeFi buying and selling. Synthetix is constructing the primary high-performance perp to settle straight on Ethereum Mainnet, with out the necessity for bridges or intermediaries. Synthetix mainnet options quick execution, low latency, and on-chain custody that leverages Ethereum’s strong safety and liquidity. Try our latest weblog submit for extra data: Synthetix is Coming Residence.
Stroll away with $1,000,000
Compete towards the highest merchants in crypto on your likelihood to stroll away with $1m. Prizes embrace:
1st Place: $1,000,000 – And supreme bragging rights2nd – third Place: 25k SNX and 5 Infinex Patrons4th – fifth Place: 10k SNX and a couple of Infinex Patrons6th – tenth Place: 5k SNX and 1 Infinex Patron
You learn that proper – individuals have a ten% likelihood of profitable, with the first-place winner taking residence $1 million just by doing what they do greatest and proving they’re really on the prime of the commerce recreation.
Winners will probably be introduced shortly after the competitors wraps up in November 2025, with prizes distributed straight on-chain.
For depositors who don’t make it into the competitors, you’ll obtain early change advantages, e.g. excessive VIP tier at launch so long as you preserve your deposits all through the competitors.
How the Competitors Works
We have curated an elite lineup of individuals to make sure the best degree of competitors and insightful suggestions. The roster contains:
50 Prime Merchants: Invite-only spots reserved for influential voices within the crypto area. These consultants will deliver their buying and selling prowess and distinctive views to the forefront, amplifying the occasion’s attain and impression.30 Pre-Winners: Open to the broader group! To qualify, customers should make pre-deposits into Synthetix’s sUSD or sUSDe vaults. Winners will probably be chosen primarily based on deposit quantities (20 sUSD winners and 10 sUSDe winners). To stay eligible for prizes all through the competitors, depositors should preserve their pre-deposit steadiness within the vaults. 5 Pre-Deposit Lottery Winners: For each $1,000 of sUSD or sUSDe in Synthetix’s pre-deposit vaults, depositors will get a lottery ticket.  Prime 10 Kwenta Level Holders: Kwenta level holders have been our largest merchants and supporters up to now, bringing nice quantity and sharing suggestions for the protocol. Welcome again Kwentoids/Spartans.5 Kwenta Level Holder Lottery Winners: Kwenta level holders may have the possibility to win entry by a lottery course of.
Pre-Deposit and lottery winners will probably be chosen October thirteenth at 00:00 UTC. Deposit now.
Every of the 100 chosen merchants will probably be seeded with margin collateral supplied solely to be used within the buying and selling competitors. This capital can’t be withdrawn, however merchants hold any prizes they win primarily based on their last efficiency.
The target? Have the biggest margin steadiness on the finish of the buying and selling competitors. Buying and selling will give attention to a curated collection of perp markets, together with main crypto property like BTC, ETH, XRP, BNB, SOL, DOGE, SUI, and ENA. Count on real-time leaderboards, group updates, and maybe even stay streams that includes Dealer commentary to maintain the thrill buzzing.
Why This Competitors Issues
At Synthetix, we’re severe about constructing cutting-edge merchandise, and stress-testing them in real-world circumstances to make sure they’re battle-ready. This buying and selling competitors is designed with a number of targets in thoughts:
Product Testing: Merchants will put our new perps to the last word check, executing trades and managing positions beneath actual market circumstances. By simulating high-volume buying and selling eventualities, we’ll collect invaluable knowledge to refine the product.Infrastructure Hardening: Earlier than our full Mainnet rollout, we have to iron out any kinks in our techniques. This occasion will assist us scale our infrastructure, guaranteeing it may deal with the calls for of a worldwide person base with out compromising on velocity or reliability.Market Maker Integrations: Our companions and market makers may have the chance to fine-tune their integrations, optimizing liquidity provision and order routing for smoother operations post-launch.SLP Neighborhood Market Making Vault Testing: A key spotlight is the mixing with our SLP (Synthetix Liquidity Supplier) group market making vault. Contributors will work together with this vault, serving to us validate its efficiency in stay buying and selling environments and fostering community-driven liquidity.
Crush the competitors and assist make Synthetix perps the gold normal for buying and selling in DeFi.
How one can Get Concerned
When you’re a prime dealer excited by an invitation, please attain out and keep watch over your DMs. Our staff will probably be reaching out to pick out people within the coming weeks. For the pre-deposit slots, head over to the Synthetix app to enter, or take a look at our Discord for step-by-step directions on the best way to qualify. Deposits are actually open, act to safe your spot!
This buying and selling competitors marks a pivotal chapter for Synthetix as we totally embrace Ethereum Mainnet’s potential. Whether or not you are a seasoned dealer, a market maker, or a DeFi newcomer, that is your likelihood to be a part of historical past and assist deliver a perp to Ethereum Mainnet.
Whether or not you are buying and selling or simply vibing, you possibly can be a part of the enjoyable by following alongside on our social channels. We’ll be sharing updates, dealer spotlights, and behind-the-scenes insights all through the occasion.
Be a part of the dialog: discord.gg/synthetixSubscribe to Telegram: t.me/+v80TVt0BJN80Y2YxFollow on X: x.com/synthetix_io
