SNXweave Weekly Recap 186

June 18, 2025

The next put up incorporates a recap of reports, tasks, and essential 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 contributors 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 help 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 adjustments but, every little thing stays dwell.Put together emigrate sUSD to Mainnet quickly.Instruments and incentives can be accessible for a easy transition.What you could do now:Arbitrum: Declare collateral and shut positions.Base: Be conscious of June 30 and July 7 deadlines for closing positions and withdrawing.Optimism: Begin making 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

For those who’ve been across the Synthetix ecosystem for some time, you’ve most likely heard that Mainnet is the long run. Properly, it’s now not only a speaking level — the transition is occurring and it’s taking place now.

Synthetix is formally sunsetting its L2 deployments, beginning with Arbitrum and Base. Optimism will stay dwell for now, however its time is coming. Transferring 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 seemingly 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 totally deprecated. Buying and selling was disabled months in the past, and all remaining vaults have been liquidated. For those who nonetheless have funds on Arbitrum, right here’s what you could know:

You’ll must repay any excellent debt and declare your collateral from the treasury. The method is

simple — simply hop into Discord and open a help ticket to start. The clock is ticking, and also you’ve obtained six months to assert what’s yours, so don’t wait till the final minute! For additional particulars, you’ll be able to check with SIP-416.

Subsequent, let’s talk about what’s arising 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, which means you’ll nonetheless have the ability to shut out your positions, however no new trades will be opened. On the identical day, Leverage Tokens will go redeem-only, so that you gained’t have the ability to mint new tokens from this level ahead.

July 7: Base can be totally deprecated. This consists of the entire shutdown of all Perps and Leverage Tokens, and LP vaults can be liquidated. For those who haven’t manually withdrawn your funds by then, any remaining collateral can be returned by the treasury.

To keep away from delays or slippage, be sure to shut your positions and withdraw your margin earlier than July 7. For those who want extra data or assist with the method, the crew is all the time accessible on Discord.

At this level, you may be questioning what’s taking place on Optimism — and what, if something, you could do. Proper now, there are not any adjustments to Synthetix on Optimism, as every little thing will stay dwell and totally supported in the meanwhile. However its time will finally come!

Whereas there isn’t an official timeline for when Optimism can be deprecated, now is an effective time to start out making ready for the eventual migration to Mainnet for those who’re holding any idle sUSD on Optimism. You’ll have the ability 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 attainable.

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 can be targeted 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 can be launching early deposit vaults for sUSD and sUSDe. Early contributors can be rewarded with Synthetix factors, and the protocol can 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, totally 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 finally, Ethereum L1’s safety and scalability are the place the long run lies.

In brief, right here’s what you could know shifting ahead:

For those who’re nonetheless utilizing Arbitrum, get your collateral and shut any positions. You’ve obtained six months, however don’t wait.For those who’re lively on Base, don’t overlook 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 wonderful for now, however don’t sleep on the upcoming migration. Be ready to bridge your sUSD to Mainnet when the time comes.

And eventually, for those who’re buying and selling or LPing on Mainnet, welcome dwelling. The protocol is happy to have you ever because it heads into this new section! See you on Ethereum.