Synthetix: V3 Launches on Arbitrum, Will Start in Multiple Phases

ChainCatcher news, Synthetix announced on social media that its protocol V3 will launch on Arbitrum in multiple phases. Starting from June 19, 9:00 AM Beijing time, users who deposit ETH, ARB, and USDC will receive ARB LTIP rewards. Depositors will also be able to mint (i.e., borrow) Synthetix's new Arbitrum native stablecoin USDx.

It is reported that the plan for launching each phase is as follows: Week 1 will attract a large amount of ARB, USDC, and ETH LP collateral. Once the total LP collateral reaches $10 million to $20 million, Perps trading will be ready to launch; Weeks 2-3: Enable sUSDe and USDe as collateral, and support collateral from Lido, EtherFi, and AAVE; Weeks 3-4: Enable the Synthetix Perps market based on the development of LP. Trading rebates will begin in Weeks 4-6, gradually enabling limited open contract trading activities to manage risk.