Synthetix stops deploying on Arbitrum

ChainCatcher news, according to Synthetix, is shifting its operational focus for perpetual contract markets to the Base network, while its perpetual contract market on Arbitrum will be closed and is currently set to a closing-only mode, where users cannot open new positions or increase existing ones.

USDx on Arbitrum needs to be exited alongside the Arbitrum perpetual contract product. Synthetix Treasury has purchased USDx from the open market and funded a wrapper to support the conversion of USDx to USDe.