Synthetix Returns to Ethereum Mainnet, Citing Lower Fees

2025-12-20 08:18

Synthetix has transitioned its protocol back to the Ethereum mainnet, discontinuing its Layer-2 network. This strategic move is driven by significantly reduced gas fees on Ethereum, which are now 26 times cheaper compared to last year, enhancing the network's scalability and cost-effectiveness. The protocol's V3 version is currently in a soft launch phase, accessible only to top traders and whitelisted liquidity providers. By returning to Ethereum's base layer, Synthetix aims to prioritize security while leveraging the improved scalability of the mainnet for its DeFi operations.

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