June 18, 2025
The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors from last week.
👉TLDR
- Mainnet:
- Synthetix is going all-in on Ethereum!
- End of June: Early deposit vaults for sUSD and sUSDe.
- Early participants will earn Synthetix points and get access to invite-only trading competitions.
- Arbitrum:
- Fully deprecated.
- All trading disabled, vaults liquidated.
- Claim collateral and repay debt within 6 months.
- Start the process in Discord by opening a support ticket.
- Base:
- June 30: Perps in close-only mode; Leverage Tokens redeem-only.
- July 7: Full deprecation; Perps, Leverage Tokens, and LP vaults shut down.
- Close positions and withdraw funds manually before July 7 to avoid issues.
- Optimism:
- No changes yet, everything remains live.
- Prepare to migrate sUSD to Mainnet soon.
- Tools and incentives will be available for a smooth transition.
- What you need to do now:
- Arbitrum: Claim collateral and close positions.
- Base: Be mindful of June 30 and July 7 deadlines for closing positions and withdrawing.
- Optimism: Start preparing to bridge sUSD to Ethereum Mainnet.
- Mainnet: Join Synthetix as it transitions to the most important phase of the protocol yet!
Spartan Council and SIP updates
If you’ve been around the Synthetix ecosystem for a while, you’ve probably heard that Mainnet is the future. Well, it’s no longer just a talking point — the transition is happening and it’s happening now.
Synthetix is officially sunsetting its L2 deployments, starting with Arbitrum and Base. Optimism will remain live for now, but its time is coming. Moving forward, Ethereum Mainnet will be the sole focus of development, trading, and liquidity. It’s the end of one era and the beginning of another that will likely be the most important phase in the protocol’s history.
Let’s first talk about what’s already been decommissioned. The Arbitrum deployment is now fully deprecated. Trading was disabled months ago, and all remaining vaults have been liquidated. If you still have funds on Arbitrum, here’s what you need to know:
You’ll need to repay any outstanding debt and claim your collateral from the treasury. The process is
straightforward — just hop into Discord and open a support ticket to begin. The clock is ticking, and you’ve got six months to claim what’s yours, so don’t wait until the last minute! For further details, you can refer to SIP-416.
Next, let’s discuss what’s coming up for those still on Base. The wind-down on Base is happening in two steps, with key dates that all traders and LPs need to be aware of:
June 30: Perps trading will enter close-only mode, meaning you’ll still be able to close out your positions, but no new trades can be opened. On the same day, Leverage Tokens will go redeem-only, so you won’t be able to mint new tokens from this point forward.
July 7: Base will be fully deprecated. This includes the complete shutdown of all Perps and Leverage Tokens, and LP vaults will be liquidated. If you haven’t manually withdrawn your funds by then, any remaining collateral will be returned by the treasury.
To avoid delays or slippage, make sure to close your positions and withdraw your margin before July 7. If you need more info or help with the process, the team is always available on Discord.
At this point, you might be wondering what’s happening on Optimism — and what, if anything, you need to do. Right now, there are no changes to Synthetix on Optimism, as everything will remain live and fully supported for the time being. But its time will eventually come!
While there isn’t an official timeline for when Optimism will be deprecated, now is a good time to start preparing for the eventual migration to Mainnet if you’re holding any idle sUSD on Optimism. You’ll be able to bridge your sUSD to Ethereum soon, where it will be crucial for the upcoming perps system. We’ll have more details on this in the coming weeks, along with the tools and incentives to make the migration as seamless as possible.
So what’s next for Synthetix? The answer is simple: Mainnet is where everything is happening. The protocol is going all-in on Ethereum Mainnet, and that’s where the development efforts will be focused from here on out. This isn’t just another deployment on Ethereum, it’s a full pivot.
Starting at the end of June, Synthetix will be launching early deposit vaults for sUSD and sUSDe. Early participants will be rewarded with Synthetix points, and the protocol will be hosting invite-only trading competitions where you can get early access to the new perps system. This is the moment where Synthetix goes all-in on the high-performance, fully composable perps DEX that Ethereum has been waiting for.
The shift away from rollups is not just about simplifying the system — it’s about taking control. Rollups gave the protocol some great lessons, but ultimately, Ethereum L1’s security and scalability are where the future lies.
In short, here’s what you need to know moving forward:
- If you’re still using Arbitrum, get your collateral and close any positions. You’ve got six months, but don’t wait.
- If you’re active on Base, don’t forget the key dates: June 30 (close-only, redeem-only) and July 7 (full deprecation). You need to close positions and withdraw funds manually before the deadline to avoid any complications.
- For those still on Optimism, you’re fine for now, but don’t sleep on the upcoming migration. Be prepared to bridge your sUSD to Mainnet when the time comes.
And finally, if you’re trading or LPing on Mainnet, welcome home. The protocol is excited to have you as it heads into this new phase! See you on Ethereum.
