Synthetix to Launch First Decentralized Perpetual Exchange on Ethereum

Synthetix Network announces the launch of its perpetual DEX on Ethereum mainnet in Q4 2025, accompanied by a $1 million trading competition to kick off the platform.

BTC

ETH

AAVE

165d ago

Summary

Synthetix Network is set to launch the first perpetual decentralized exchange (DEX) on Ethereum mainnet in Q4 2025, featuring gasless trading, multi-collateral margin, and zero settlement costs. The launch will be accompanied by a $1 million trading competition starting in October 2025, with rewards in SNX tokens and other benefits. Traders can use assets like sUSDe, wstETH, and cbBTC as margin for yield generation. Synthetix aims to position Ethereum as a hub for high-performance perpetual trading.

Terms & Concepts

Perpetual Contract: A type of derivative with no expiry date, allowing traders to hold positions indefinitely while tracking the underlying asset’s price.
Decentralized Exchange (DEX): A blockchain-based platform enabling cryptocurrency trading directly between users without intermediaries.
Multi-Collateral Margin: A system allowing traders to use multiple assets as collateral for margin trading, enhancing flexibility and capital efficiency.