The post Synthetix Launches Perpetual DEX with $1M Trading Competition appeared on BitcoinEthereumNews.com. Key Points: Synthetix launches Perp DEX with $1 million trading contest. Competition aims to stress-test new platform. Top traders are invited to participate with several rewards. Synthetix is set to launch its perpetual decentralized exchange (Perp DEX) on the Ethereum mainnet in Q4 2025, accompanied by a $1 million trading competition. The launch could boost Ethereum liquidity, attract top DeFi traders, and potentially increase the price volatility of involved tokens, including SNX and ETH. Synthetix Unveils $1M Trading Contest on Ethereum Mainnet The trading contest will attract top DeFi traders, with rewards funded by Synthetix’s treasury. Provisions for multi-collateral support will enhance the platform’s appeal, potentially increasing SNX token activity. Market response has been largely positive, particularly among developers and users on public platforms such as GitHub and Discord. Ethereum (ETH) is currently priced at $4,209.15 with a market cap of $508.06 billion. It holds 13.00% market dominance. CoinMarketCap data indicates a 0.21% price increase over 24 hours, despite a 10.54% drop in trading volume. “Synthetix is building the first high-performance perp to settle directly on Ethereum Mainnet, without the need for bridges or intermediaries. Synthetix mainnet features fast execution, low latency, and on-chain custody that leverages Ethereum’s robust security and liquidity.” – Kain Warwick, Founder, Synthetix Hybrid Model May Boost Institutional Interest in DeFi Did you know? Synthetix’s move to Ethereum Mainnet is a return to its roots, offering direct settlement without intermediaries, paralleling early on-chain derivatives attempts. The Coincu research team highlights that the hybrid model may foster institutional adoption by reducing gas costs. The competition could lead to increased SNX volatility and drive Ether-denominated TVL growth on the mainnet. Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 08:35 UTC on September 23, 2025. Source: CoinMarketCap The competition could lead to increased SNX volatility and drive Ether-denominated TVL growth… The post Synthetix Launches Perpetual DEX with $1M Trading Competition appeared on BitcoinEthereumNews.com. Key Points: Synthetix launches Perp DEX with $1 million trading contest. Competition aims to stress-test new platform. Top traders are invited to participate with several rewards. Synthetix is set to launch its perpetual decentralized exchange (Perp DEX) on the Ethereum mainnet in Q4 2025, accompanied by a $1 million trading competition. The launch could boost Ethereum liquidity, attract top DeFi traders, and potentially increase the price volatility of involved tokens, including SNX and ETH. Synthetix Unveils $1M Trading Contest on Ethereum Mainnet The trading contest will attract top DeFi traders, with rewards funded by Synthetix’s treasury. Provisions for multi-collateral support will enhance the platform’s appeal, potentially increasing SNX token activity. Market response has been largely positive, particularly among developers and users on public platforms such as GitHub and Discord. Ethereum (ETH) is currently priced at $4,209.15 with a market cap of $508.06 billion. It holds 13.00% market dominance. CoinMarketCap data indicates a 0.21% price increase over 24 hours, despite a 10.54% drop in trading volume. “Synthetix is building the first high-performance perp to settle directly on Ethereum Mainnet, without the need for bridges or intermediaries. Synthetix mainnet features fast execution, low latency, and on-chain custody that leverages Ethereum’s robust security and liquidity.” – Kain Warwick, Founder, Synthetix Hybrid Model May Boost Institutional Interest in DeFi Did you know? Synthetix’s move to Ethereum Mainnet is a return to its roots, offering direct settlement without intermediaries, paralleling early on-chain derivatives attempts. The Coincu research team highlights that the hybrid model may foster institutional adoption by reducing gas costs. The competition could lead to increased SNX volatility and drive Ether-denominated TVL growth on the mainnet. Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 08:35 UTC on September 23, 2025. Source: CoinMarketCap The competition could lead to increased SNX volatility and drive Ether-denominated TVL growth…

Synthetix Launches Perpetual DEX with $1M Trading Competition

By: BitcoinEthereumNews
2025/09/23 16:45
1
1$0.00757+0.54%
SNX
SNX$1.4742-3.29%
Capverse
CAP$0.09928+0.15%
Movement
MOVE$0.07526+0.42%
DeFi
DEFI$0.000923-6.48%
Key Points:
  • Synthetix launches Perp DEX with $1 million trading contest.
  • Competition aims to stress-test new platform.
  • Top traders are invited to participate with several rewards.

Synthetix is set to launch its perpetual decentralized exchange (Perp DEX) on the Ethereum mainnet in Q4 2025, accompanied by a $1 million trading competition.

The launch could boost Ethereum liquidity, attract top DeFi traders, and potentially increase the price volatility of involved tokens, including SNX and ETH.

Synthetix Unveils $1M Trading Contest on Ethereum Mainnet

The trading contest will attract top DeFi traders, with rewards funded by Synthetix’s treasury. Provisions for multi-collateral support will enhance the platform’s appeal, potentially increasing SNX token activity. Market response has been largely positive, particularly among developers and users on public platforms such as GitHub and Discord.

Ethereum (ETH) is currently priced at $4,209.15 with a market cap of $508.06 billion. It holds 13.00% market dominance. CoinMarketCap data indicates a 0.21% price increase over 24 hours, despite a 10.54% drop in trading volume.

Hybrid Model May Boost Institutional Interest in DeFi

Did you know? Synthetix’s move to Ethereum Mainnet is a return to its roots, offering direct settlement without intermediaries, paralleling early on-chain derivatives attempts.

The Coincu research team highlights that the hybrid model may foster institutional adoption by reducing gas costs. The competition could lead to increased SNX volatility and drive Ether-denominated TVL growth on the mainnet.

Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 08:35 UTC on September 23, 2025. Source: CoinMarketCap

The competition could lead to increased SNX volatility and drive Ether-denominated TVL growth on the mainnet.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source: https://coincu.com/ethereum/synthetix-perpetual-dex-competition/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Paul Chan: Blockchain technology and artificial intelligence are leading the rapid development of digital financial services

Paul Chan: Blockchain technology and artificial intelligence are leading the rapid development of digital financial services

PANews reported on October 22nd that Hong Kong Financial Secretary Paul Chan Mo-po stated at the APEC Finance Ministers' Meeting on October 21st that blockchain technology and artificial intelligence are driving the rapid development of digital financial services, which not only improves efficiency and reduces costs, but also helps promote inclusive finance. Financial innovation should serve the real economy, and through public-private partnerships, more inclusive financial services can be promoted. In addition to fulfilling their supervisory responsibilities, regulators should also encourage innovation and promote market development. Against the backdrop of the increasingly widespread application of digital assets and artificial intelligence in financial services, economies should pay attention to whether such innovations are responsible and sustainable, including taking into account investor interests and financial stability. Chan Mo-po stated that Hong Kong actively participates in cross-border cooperation and policy dialogue on digital finance and is willing to deepen cooperation with partners in the region in related areas.
CyberKongz
KONG$0.00874-1.90%
FINANCE
FINANCE$0.0008037+1.33%
Notcoin
NOT$0.0008114-4.21%
Share
2025/10/22 10:44
Share
Glenn Hughes Scores His Greatest Chart Debut On His Own

Glenn Hughes Scores His Greatest Chart Debut On His Own

The post Glenn Hughes Scores His Greatest Chart Debut On His Own appeared on BitcoinEthereumNews.com. Nearly 10 years after Resonate, Glenn Hughes scores a new career high as Chosen opens at No. 4 on the Official Rock and Metal Albums chart. NEW YORK, NEW YORK – APRIL 08: Glenn Hughes of Deep Purple speaks onstage during the 31st Annual Rock And Roll Hall Of Fame Induction Ceremony at Barclays Center on April 8, 2016 in New York City. (Photo by Mike Coppola/Getty Images) Getty Images Almost a decade after his last solo album Resonate arrived, Glenn Hughes returns with Chosen. The rock superstar’s fifteenth project under his own name debuts on multiple charts in the United Kingdom, where he remains a legend in his chosen field. Chosen opens inside loftiest tiers on multiple tallies and even gives Hughes his first solo win on one roster. Glenn Hughes Scores First Hit on One Chart Chosen debuts on the Official Albums Downloads chart at No. 60. Hughes scores his first solo win on the list of the bestselling full-lengths and EPs on download platforms like iTunes and Amazon in the U.K., as his latest project arrives. Glenn Hughes Reaches a New Peak Chosen earns its loftiest starting point on the Official Rock and Metal Albums chart, where it kicks off at No. 4. Hughes reaches a new all-time high as the set arrives and collects his second top 10. Resonate peaked at No. 6, earning Hughes his first top 10 bestseller almost 10 years back, while Music for the Divine only spent one frame at No. 33 nearly 20 years ago. Glenn Hughes on the Albums Charts Chosen also brings Hughes to new all-time peak positions on both the Official Albums Sales and Official Physical Albums charts. The set debuts at Nos. 25 and 26 on those tallies, respectively. Only Resonate had previously landed on those lists,…
Sidekick
K$0.03965-12.33%
Union
U$0.007525+1.55%
Manchester City Fan
CITY$0.7607-0.05%
Share
2025/09/18 02:41
Share
Tether issues another $1 billion USDT, bringing the total issuance of stablecoins to $7 billion since October 11

Tether issues another $1 billion USDT, bringing the total issuance of stablecoins to $7 billion since October 11

PANews reported on October 22nd that according to Lookonchain, Tether issued an additional $1 billion in USDT six hours ago. Since the market crash on October 11th of this month, Tether and Circle, two stablecoin issuers, have cumulatively issued approximately $7 billion in stablecoins.
1
1$0.007563+0.63%
SIX
SIX$0.01906-16.44%
Share
2025/10/22 10:37
Share

Trending News

More

Paul Chan: Blockchain technology and artificial intelligence are leading the rapid development of digital financial services

Glenn Hughes Scores His Greatest Chart Debut On His Own

Tether issues another $1 billion USDT, bringing the total issuance of stablecoins to $7 billion since October 11

Keycard, an AI-powered identity and access management platform, secures $38 million in funding, led by a16z and others.

Diddy Seeks to Overturn Conviction — Former SBF Jailmate Files Notice Of Appeal