On December 19th, the decentralized derivatives protocol Synthetix announced the launch of a perpetual contract DEX on the Ethereum mainnet. It adopts a hybrid CLOB model combining on-chain asset custody and off-chain matching to bypass mainnet latency and high gas costs. Initially, it supports BTC, ETH, and SOL perpetual contracts with up to 50x leverage and plans to introduce multi-collateral margin, RWA support, and incentive programs.
The platform is market-making and liquidity provided by SLP Vault, and Synthetix aims to become the first successful CLOB perp trading platform on the Ethereum mainnet.



