Multi-Collateral Perps Set to Transform Arbitrum with Flexible Strategies and Extended Incentives

The ability to use different assets as collateral is expected to attract a diverse range of traders, each with their own strategy that can benefit from this new feature.

A Long-Term Incentive Program (LTIP) was originally granted by Synthetix to facilitate the launch of Multi-Collateral Perpetuals (Perps) on the Arbitrum network.

However, due to the launch being delayed, Synthetix is now requesting an extension of the LTIP.

This tool will enable users to trade perpetuals with a range of collateral alternatives, including tBTC, ETH, USDe, and SOL.

The extension will allow Synthetix to continue offering incentives to users and traders who adopt Multi-Collateral Perps on Arbitrum.

According to the Web3 Foundation, Arbitrum is a Layer 2 optimistic rollup that provides faster and cheaper transactions for Ethereum users.

This technology enables users to perform transactions at a fraction of the cost and with significantly faster confirmation times compared to the main Ethereum chain.

Optimistic rollups, like Arbitrum, function by bundling a large number of transactions together and submitting them to the Ethereum blockchain for verification.

These transactions are processed off-chain and then submitted to the main chain in batches, which drastically reduces the load on the Ethereum network and improves scalability.

This feature will allow users to trade Perps using tBTC, ETH, USDe, and SOL as collateral.

We expect this onchain innovation to attract many new users…

— Synthetix ⚔️ (@synthetix_io) September 6, 2024

The addition of Multi-Collateral Perps to Arbitrum is expected to significantly enhance the platform’s capabilities and attract a wider range of users.

This feature will enable users to employ diverse trading strategies and capitalize on the unique advantages offered by Arbitrum, such as lower transaction fees and faster confirmation times.

As a result, the launch of Multi-Collateral Perps on Arbitrum is anticipated to be a major milestone in the growth and evolution of both platforms.

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