Quick Breakdown
- Synthetix Perps launches on Ethereum Mainnet with BTC, ETH, and SOL markets, up to 50x leverage.
- Private beta limited to 500 users; weekly market expansions and new features planned for 2026.
- L1 custody and offchain matching ensure secure, high-performance decentralized perpetual trading.
Synthetix, a pioneering DeFi protocol, has officially launched its decentralized perpetual futures (Perps) exchange on Ethereum Mainnet, marking a significant milestone in its return to the network. The launch introduces the canonical perpetual DEX, ending the transition phase and initiating Synthetix’s Central Limit Order Book (CLOB) era on the network.
Introducing Synthetix Perps on Ethereum Mainnet ⚔️
We are thrilled to announce that Synthetix, the canonical perp DEX on Ethereum, is now live.
🧵⬇️ pic.twitter.com/CqcptUK96R
— Synthetix ⚔️ (@synthetix) December 19, 2025
Private beta and early access
The launch begins with a private beta, supporting three markets: Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), each offering up to 50x leverage. Access is initially limited to 500 users, including historical Synthetix power users, stakers, trading competition participants, and select team depositors. Deposits are capped at 40,000 USDT per user, with withdrawals disabled for the first week to monitor the onchain deposit contract. Synthetix plans to expand markets, increase leverage, improve liquidity, and raise deposit caps in the coming months.
The protocol’s 2026 roadmap promises weekly new markets starting December 29, multicollateral margin, Wick insurance, Real World Assets (RWAs), deeper integration with Ethereum DeFi applications, and a range of order types. Partnerships with leading protocols and trust-minimized order books are also in development, emphasizing a fully non-custodial, community-focused trading experience.
High-performance architecture and mainnet focus
Synthetix’s Mainnet return leverages L1 custody and onchain settlement, eliminating bridging and rehypothecation risks. An offchain matching engine ensures institutional-grade throughput and low latency, while batch settlement on Ethereum Mainnet maintains security and transparency. The system combines professional trading performance with the composability and liquidity of Ethereum’s DeFi ecosystem, while safeguarding user privacy and funds.
The move follows Synthetix’s recent Fusaka upgrade and a strategic overhaul of its product, marketing, and core team. The platform aims to re-establish Ethereum as the central hub for capital in the crypto economy while delivering a high-performance, decentralized perpetual-trading experience.nmm
Meanwhile, Synthetix announced in May plans to reacquire the options trading platform Derive in a token-based deal. In a blog post published on May 14, Synthetix revealed the proposed terms of the acquisition: a token swap valuing one SNX at 27 DRV, pegging Derive’s valuation at approximately $27 million.
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