Synthetix Returns to Ethereum Mainnet After Three Years
Synthetix has returned to the Ethereum mainnet after a three-year absence, marking a notable reversal for the derivatives-focused protocol. Founder Kain Warwick framed the relaunch optimistically—“we can run it back”—and said he expects other perpetual DEXs to consider similar moves. The announcement sent a clear signal of confidence in Ethereum’s current capacity to support high-throughput trading and on-chain derivatives. The redeployment matters because it could redirect liquidity and order flow from Layer 2 and alternative chains back to Ethereum, affecting fee dynamics and trading depth for ETH and SNX pairs. Traders and market makers will be watching user adoption, spreads, and gas costs as early indicators of success. If other perpetual platforms follow Synthetix, the shift could reshape where major perpetual markets live within the broader DeFi ecosystem.