Synthetix is bringing the primary perps DEX to Ethereum Mainnet in This fall 2025, launching with a landmark buying and selling competitors. We offer the capital, you make the trades. The winner will take residence $1m. This competitors serves as a proving floor for our expertise, infrastructure and integrators, and incorporates your suggestions to fine-tune the expertise earlier than launch.
100 of the highest merchants, pre-depositors, and historic Synthetix customers will face off in a face to face battle. The motion kicks off in October (particular date TBA) and can run for a full month, pitting merchants and neighborhood members towards one another in a battle of ability, technique, and market mastery. Learn the way to qualify under.
For individuals who want a fast refresher, our new perps product represents a leap ahead in DeFi buying and selling. Synthetix is constructing the primary high-performance perp to settle straight on Ethereum Mainnet, with out the necessity for bridges or intermediaries. Synthetix mainnet options quick execution, low latency, and on-chain custody that leverages Ethereum’s strong safety and liquidity. Try our current weblog submit for extra info: Synthetix is Coming Residence.
Stroll away with $1,000,000
Compete towards the highest merchants in crypto in your probability to stroll away with $1m. Prizes embody:
- 1st Place: $1,000,000 – And supreme bragging rights
- 2nd – third Place: 25k SNX and 5 Infinex Patrons
- 4th – fifth Place: 10k SNX and a pair of Infinex Patrons
- sixth – tenth Place: 5k SNX and 1 Infinex Patron
You learn that proper – individuals have a ten% probability of successful, with the first-place winner taking residence $1 million just by doing what they do finest and proving they’re actually on the prime of the commerce recreation.
Winners will probably be introduced shortly after the competitors wraps up in November 2025, with prizes distributed straight on-chain.
For depositors who don’t make it into the competitors, you’ll obtain early alternate advantages, e.g. excessive VIP tier at launch so long as you keep your deposits all through the competitors.
How the Competitors Works
We have curated an elite lineup of individuals to make sure the best degree of competitors and insightful suggestions. The roster contains:
- 50 Prime Merchants: Invite-only spots reserved for influential voices within the crypto area. These specialists will carry their buying and selling prowess and distinctive views to the forefront, amplifying the occasion’s attain and influence.
- 30 Pre-Winners: Open to the broader neighborhood! To qualify, customers should make pre-deposits into Synthetix’s sUSD or sUSDe vaults. Winners will probably be chosen based mostly on deposit quantities (20 sUSD winners and 10 sUSDe winners). To stay eligible for prizes all through the competitors, depositors should keep their pre-deposit stability within the vaults.
- 5 Pre-Deposit Lottery Winners: For each $1,000 of sUSD or sUSDe in Synthetix’s pre-deposit vaults, depositors will get a lottery ticket.
- Prime 10 Kwenta Level Holders: Kwenta level holders have been our largest merchants and supporters previously, bringing nice quantity and sharing suggestions for the protocol. Welcome again Kwentoids/Spartans.
- 5 Kwenta Level Holder Lottery Winners: Kwenta level holders may have the possibility to win entry by means of a lottery course of.
Pre-Deposit and lottery winners will probably be chosen October thirteenth at 00:00 UTC. Deposit now.
Every of the 100 chosen merchants will probably be seeded with margin collateral supplied solely to be used within the buying and selling competitors. This capital can’t be withdrawn, however merchants maintain any prizes they win based mostly on their last efficiency.
The target? Have the most important margin stability on the finish of the buying and selling competitors. Buying and selling will give attention to a curated number of perp markets, together with main crypto property like BTC, ETH, XRP, BNB, SOL, DOGE, SUI, and ENA. Anticipate real-time leaderboards, neighborhood updates, and even perhaps dwell streams that includes Dealer commentary to maintain the thrill buzzing.
Why This Competitors Issues
At Synthetix, we’re critical about constructing cutting-edge merchandise, and stress-testing them in real-world situations to make sure they’re battle-ready. This buying and selling competitors is designed with a number of objectives in thoughts:
- Product Testing: Merchants will put our new perps to the last word take a look at, executing trades and managing positions beneath actual market situations. By simulating high-volume buying and selling eventualities, we’ll collect invaluable knowledge to refine the product.
- Infrastructure Hardening: Earlier than our full Mainnet rollout, we have to iron out any kinks in our methods. This occasion will assist us scale our infrastructure, guaranteeing it will possibly deal with the calls for of a world person base with out compromising on velocity or reliability.
- Market Maker Integrations: Our companions and market makers may have the chance to fine-tune their integrations, optimizing liquidity provision and order routing for smoother operations post-launch.
- SLP Neighborhood Market Making Vault Testing: A key spotlight is the mixing with our SLP (Synthetix Liquidity Supplier) neighborhood market making vault. Individuals will work together with this vault, serving to us validate its efficiency in dwell buying and selling environments and fostering community-driven liquidity.
Crush the competitors and assist make Synthetix perps the gold normal for buying and selling in DeFi.
The way to Get Concerned
When you’re a prime dealer concerned with an invitation, please attain out and control your DMs. Our workforce will probably be reaching out to pick out people within the coming weeks. For the pre-deposit slots, head over to the Synthetix app to enter, or take a look at our Discord for step-by-step directions on learn how to qualify. Deposits at the moment are open, act to safe your spot!
This buying and selling competitors marks a pivotal chapter for Synthetix as we totally embrace Ethereum Mainnet’s potential. Whether or not you are a seasoned dealer, a market maker, or a DeFi newcomer, that is your probability to be a part of historical past and assist carry a perp to Ethereum Mainnet.
Whether or not you are buying and selling or simply vibing, you may be a part of the enjoyable by following alongside on our social channels. We’ll be sharing updates, dealer spotlights, and behind-the-scenes insights all through the occasion.
Be part of the dialog: discord.gg/synthetix
Subscribe to Telegram: t.me/+v80TVt0BJN80Y2Yx
Observe on X: x.com/synthetix_io
