Synthetix will start sunsetting all remaining leveraged tokens on Optimism. This is among the ultimate steps in our broader shift away from Layer 2 deployments, as we refocus protocol assets on Synthetix Mainnet, the high-performance perp trade being constructed on Ethereum.
This shutdown follows the finished deprecations of our merchandise on Base and Arbitrum. You possibly can learn extra about these modifications in L2s are Useless, Lengthy Stay Ethereum. This represents one of many two remaining steps earlier than whole retirement of L2s is full. For perps merchants on Optimism, no motion is required right now, however we encourage you to watch bulletins for future modifications.
What’s Taking place
All Synthetix-powered leveraged tokens on Optimism are being deprecated. New mints have already been disabled within the app. Over the approaching weeks, the tokens might be paused, liquidated, and the ensuing balances returned to customers.
Timeline
Deprecation will happen within the following phases:
- Minting Disabled (August 4, 2025)
Minting has been disabled, and no new leveraged token positions may be opened. - Remaining Redemption Window (August 4–11, 2025)
Customers have one week to manually redeem their leveraged tokens. That is the ultimate alternative to exit positions manually. - Liquidation and Airdrop (Begins August 11, 2025)
After the redemption window closes, remaining tokens might be liquidated. sUSD might be airdropped inside a pair weeks of the liquidation occasion to holders, primarily based on their balances on the time of liquidation.
What You Ought to Do
For those who’re presently holding leveraged tokens, we strongly encourage you to redeem your tokens earlier than the shutdown deadline. Guide redemption provides you with rapid entry to your funds and keep away from reliance on the liquidation course of, providing you with full management over your buying and selling.
If You Do Nothing
Any positions that stay after the shutdown deadline might be routinely liquidated. You’ll nonetheless obtain your share of the underlying worth by way of airdrop, distributed to the pockets holding the leveraged tokens.
Comply with Synthetix intently as we speedrun to mainnet:
Be part of the dialog: discord.gg/synthetix
Subscribe to TG: t.me/+v80TVt0BJN80Y2Yx
Comply with us on X: x.com/synthetix_io
