Synthetix Scales Its Arbitrum Deployment Plan, Targeting Fund Managers and Traders Amidst New Perps Trading Markets Coming On-Chain

The Cryptonomist interviewed Matt Losquadro and Noah Litvin, two core contributors of Synthetix— a leading derivatives markets ecosystem and liquidity layer

DeFi protocols like Synthetix (CRYPTO:SNX) are expanding into new markets to provide decentralized derivatives. Recently, we covered Synthetix’s scaleup of its Arbitrum deployment plan — expanding its V3 liquidity layer and turnkey protocol for creating perpetual futures and derivatives.

This deployment marks a significant milestone in Synthetix’s multi-chain strategy, following its successful expansion into Base earlier this year.

With Matt and Noah we spoke about the rising appeal of decentralized derivatives among fund managers and traders amidst new perps trading markets coming on-chain.

Here are some excerpts from our conversation, lightly edited for clarity.

Decrypt: Synthetix has recently scaled up its Arbitrum deployment plan, expanding its V3 liquidity layer and protocol for creating perpetual futures and derivatives. Can you elaborate on the strategic significance of this move for Synthetix and the broader DeFi ecosystem?

Matt Losquadro: Arbitrum has proven itself to maintain a large and growing ecosystem of DeFi users and traders with the largest amount of TVL out of Ethereum L2s.

We feel that offering the best on-chain perps mechanism is a natural product offering to the Arbitrum community, and we're excited to provide this offering.

Decrypt: Following your successful expansion into Base, what insights and lessons have you gained that will influence your approach to multi-chain deployment? How do you see this strategy shaping the future of decentralized derivatives?

Noah Litvin: The Andromeda deployment on Base was the first fully functioning deployment of Synthetix V3 and acted as a test for several new parameters and mechanism designs.

This included accepting USDC collateral and new strategies for bootstrapping liquidity in a more capital-efficient way.

The successful deployment on Base paved the way for our deployment on Arbitrum and future deployments on the Optimism Superchain and Ethereum mainnet.

Decrypt: What factors are driving the rising interest in decentralized derivatives among fund managers and traders? How does Synthetix plan to address and leverage this growing demand?

Losquadro: Coming off the collapse of FTX and other CEXes, many traders realized that centralized exchanges are black boxes that can hold user funds hostage if the teams or founders act nefariously.

We built a fully decentralized and permissionless system that truly cannot rug traders.

Further, with the improved performance of L2s over the last year, costs and performance of trading on-chain are approaching (but are not quite at) parity with CEXs.

We will continue to scale liquidity and work with front end integrators like Kwenta and Infinex to improve user experience in trading onchain derivatives. Finally, the permissionless and composable nature of Synthetix Perps allows us to nurture other builders to innovate and build new derivative and mechanism designs.

Decrypt: Perpetual futures have become a cornerstone in the derivatives market. Can you discuss the unique features and advantages of Synthetix’s perpetual futures offerings compared to traditional and other decentralized platforms?

Litvin: Synthetix’s perpetual futures offer a unique advantage by providing a decentralized, transparent, and secure trading environment.

They allow users to trade synthetic assets, gaining exposure to various markets and supporting multiple collateral types, which offers flexibility for traders.

The platform provides deep liquidity through pooled resources, enabling large trades with minimal price impact.

Additionally, competitive fees and integration with Layer 2 solutions enhance trading efficiency, making Synthetix a highly attractive choice in the decentralized derivatives market.

Decrypt: Scaling and deploying on multiple chains presents significant technical challenges. Can you share some of the key technical hurdles Synthetix has faced in its recent expansions and how your team has overcome them?

Losquadro: For the last two years, the engineering team at Synthetix has been building the core infrastructure of our V3 system which enables modular and simple deployments across chains.

With the refinement of this system, one of the larger hurdles has become less technical and instead, a hurdle of bootstrapping capital and scaling trading volume on the system.

Synthetix は、Base および Arbitrum のデプロイメントを通じて数千万の新しい TVL をオンボーディングしており、V2x システムのレガシー TVL を使用して、今後数か月以内に大規模な流動性を実現します。新しいパートナーの統合が目前に迫っており、次のハードルはフロントエンド パートナー経由での持続的なユーザー獲得の構築であると考えています。

復号化: 今後 12 か月間の Synthetix の目標は何ですか?より大きな DeFi 環境の中で進化する分散型デリバティブの役割をどのように想像していますか?また、その変革において Synthetix はどのような役割を果たすことになりますか?

リトビン: 今後 12 か月間で、現在の展開における担保と取引量を拡大する予定です。これは、新しい担保タイプ、特に潜在的な利回りを生み出す資産を有効にして、預金者がその資本から追加の利回りを獲得できるようにすることで実現されます。

当社は、複数担保のPERPを使用した取引エクスペリエンスをさらに改善し、ロングテール取引ペアを有効にし、AMMスタイルのPERPを補完するオーダーブックモデルを展開していきます。

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