Synthetix Moves Back to Ethereum Mainnet After Three Years, L2 Exit by Mid-2025

Derivatives protocol Synthetix is migrating from Layer-2 networks back to Ethereum's mainnet after three years. Citing liquidity fragmentation, it plans to wind down deployments on Base, Arbitrum and Optimism by mid-2025, according to ainvest.com; SNX has fallen about 83% since late 2024. The return begins with a gated V3 soft launch.