Foresight News reported that Synthetix announced it is shifting the focus of its perpetual contract market to the Base network, and its perpetual contract market on Arbitrum will be closed, currently set to liquidation-only mode, where users cannot open new positions or increase existing positions. The USDx on Arbitrum needs to exit along with the Arbitrum perpetual contract product, and the Synthetix Treasury has purchased USDx from the open market and funded a wrapper to support the conversion of USDx to USDe.
Synthetix encourages traders to migrate their trading to the Base network, where all Arbitrum markets are available, and traders can cross-chain their funds directly from the Swap interface.
