Synthetix is ready to launch the primary perpetual decentralized trade on Ethereum mainnet in This autumn 2025, kicking off with a $1 million buying and selling competitors.
Abstract
- Synthetix to launch first perpetual DEX on Ethereum mainnet in This autumn 2025.
- Merchants can use sUSDe, wstETH, and cbBTC as multi-collateral margin.
- Launch begins with a $1M buying and selling competitors beginning in October.
Synthetix is making ready to launch the primary perpetuals trade on Ethereum mainnet, beginning with a buying and selling competitors that gives a $1 million prize.
On Sept. 22, 2025, Synthetix Community (SNX) introduced plans for its competitors and upcoming perpertual DEX, which is able to function gasless buying and selling, zero settlement prices, and multi-collateral margin.
Merchants will be capable of use property like Ethena’s sUSDe, Lido’s wstETH, and Coinbase’s cbBTC as margin to provide yield whereas buying and selling. This mannequin makes use of Ethereum’s (ETH) intensive liquidity, which presently totals greater than $90 billion throughout its liquidity, staking, and lending swimming pools.
Multi-collateral margin and techniques
The mainnet launch introduces multi-collateral margin, letting merchants publish portfolios of property, together with yield-bearing collateral, with out promoting them. This permits customers to earn funding or staking yields, preserve publicity to ETH or BTC, and keep away from triggering taxable occasions when opening perp positions.
Synthetix expects that this design will improve the effectivity and profitability of arbitrage methods equivalent to foundation buying and selling. For instance, merchants can deposit wstETH, brief ETH perps in equal dimension, and profit from staking rewards and constructive funding funds.
By enabling these setups immediately on Ethereum, Synthetix removes the necessity for bridging and expands composability with decentralized finance protocols like Aave.
Synthetix buying and selling competitors particulars
Beginning in October, Synthetix will maintain a one-month buying and selling competitors previous to launch, with 100 merchants chosen from amongst Kwenta level holders, prime customers, and pre-depositors.
Utilizing seeded margin capital, opponents will compete in well-known markets like BTC, ETH, SOL, and DOGE. The winner will obtain $1 million, together with extra rewards in SNX tokens and particular advantages for different prime performers.
Along with strengthening infrastructure and enhancing integrations with market makers and liquidity suppliers, the occasion goals to stress-test the trade below real-world market situations. Reward distribution will happen immediately onchain, and winners can be revealed in November.
Synthetix hopes that this launch will place the Ethereum mainnet as a hub for high-performance perpetual buying and selling that blends decentralized safety and deep liquidity.
