Synthetix has been set to launch the first eternal decentralized exchange on Ethereum Mainstet in Q4 2025, with a $ 1 million trade competition.
Summary
- Synthetix to start the first perpetual Dex on Ethereum MAINNET in Q4 2025.
- Traders can use Susde, Wsteth and CBBTC as a multi-collateral margin.
- The launch starts with a $ 1 million trade match from October.
Synthetix is preparing for the launch of the first perpetuals exchange on Ethereum -Minet, starting with a trade competition that offers a prize of $ 1 million.
On September 22, 2025, Synthetix Network (SNX) announced plans for its competition and upcoming Perpertual Dex, with gasless trade, zero settlement costs and multi-collateral margin.
Traders can use assets such as Ethena’s Susde, Lido’s Wsteth and Coinbase’s CBBTC as a margin to produce yield during action. This model uses the extensive liquidity of Ethereum (ETH), which is currently more than $ 90 billion in its liquidity, commitment and lending pools.
Multi-collateral margin and strategies
The Mavet launch introduces multi-collateral margin, allowing traders to post portfolios of assets, including return-bearing collateral, without selling them. This allows users to earn financing or revenues, to maintain exposure to ETH or BTC and to prevent taxable events from being activated when opening perpp positions.
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Synthetix expects this design to increase the efficiency and profitability of arbitration strategies such as basic trading. Traders can, for example, deposit WSTETTH, short ETH -PERSPS on the same size and take advantage of setting up rewards and positive financing payments.
By switching on these setups directly on Ethereum, Synthetix removes the need for bridging and expands composability with decentralized financial protocols such as Aave.
Synthetix -Handels competition details
From October, Synthetix will hold a one-month trade competition prior to the launch, with 100 traders chosen from holders of Kwenta Point, top users and pre-depositors.
With the help of placed margin capital, competitors will compete in well -known markets such as BTC, ETH, SOL and Doge. The winner receives $ 1 million, together with extra rewards in SNX tokens and special benefits for other top performers.
In addition to strengthening the infrastructure and improving integrations with market manufacturers and liquidity providers, the event is intended to test the exchange under Real-World market conditions. The distribution of rewards takes place immediately Onchain and winners will be revealed in November.
Synthetix hopes that this launch will position the Ethereum Minnet as a hub for powerful eternal trade that combines decentralized safety and deep liquidity.
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