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Project Overview
Synthetix is a decentralized platform for synthetic assets that provides on-chain exposure to real-world currencies, commodities, stocks, and indices. These synthetic assets (Synths) are backed by Synthetix Network Tokens (SNX) locked into a smart contract as collateral. The protocol also issued a stablecoin sUSD. Synths track the prices of various assets, allowing crypto-native and unbanked users to trade peer-to-contract (P2C) on Synthetix Exchange without liquidity restrictions.
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Coinbase Suspends Trading of 25 Perpetual Contracts and Completes Auto-Settlement
According to an official announcement, Coinbase has suspended trading of 25 perpetual contracts, as previously announced. All outstanding positions in these contracts have been automatically settled at the final settlement price. The affected contracts include TRB, RARE, NEIRO, A, ME, XTZ, KMNO, RAY, STX, ENS, GMT, SNX, 1000FLOKI, 0G, ORDI, NIL, BIO, UMA, BEAM, INIT, SOMI, EGLD, CLANKER, SOPH, and BIGTIME. The final settlement price was calculated as the average index price over the 60 minutes preceding the suspension. Coinbase stated that this action aims to focus on products that consistently meet liquidity and market quality standards, and that it will accelerate the launch of new perpetual contracts by optimizing internal processes.
Binance to Adjust Minimum Price Precision for Multiple USDT-Margined Contracts, Including LAB and SNX
According to the official announcement, Binance will adjust the minimum price precision for several USDⓈ-margined perpetual contracts—including LAB, RAVE, ESPORTS, SNX, C98, ONE, CELR, and XTZ—on April 21–22. The specific schedule is as follows: LAB, RAVE, and ESPORTS contracts will be adjusted on April 21 at 14:30 UTC; SNX, C98, ONE, CELR, and XTZ contracts will be adjusted in stages between April 22 at 14:30 and 15:30 UTC.