ChainCatcher news, Synthetix core contributor Matt Losquadro stated that the upcoming new application chain SNAXchain aims to bring cross-chain liquidity and trading fee revenue for native token stakers and on-chain trading products. The application chain will initially serve as an on-chain governance platform to manage Synthetix deployments on the Ethereum mainnet and Layer 2 scaling chains, including Optimism, Arbitrum, and Base. Currently, Synthetix is actively exploring the future functionalities of SNAXchain, including SNX staking, cross-chain liquidity, and support for customized perps products, with more proposals regarding these features expected in the fourth quarter.

ChainCatcher news, Synthetix founder Kain Warwick posted that to address the overly complex SNX staking mechanism, he suggests implementing the SNX staking module with Synthetix V3. This staking module only requires users to stake SNX without participating in collateralizing the minting of sUSD. Initially, the treasury committee will provide rewards for this pool, and in the future, a portion of protocol fees may be allocated.In addition, Kain Warwick also plans to introduce the SNX liquidity provision (SNXLP) module, which aims to replace the previous mechanism of collateralizing SNX to mint sUSD, offering advantages such as allowing liquidity providers to choose the markets in which to provide liquidity. (source link)