$SNX

I just saw @synthetix_io is going to hold a trading competition on the Ethereum mainnet on October 20, with a prize pool of up to 1 million USD for 100 traders. This time it aims to redefine the ceiling of perpetual trading on the mainnet with both stability and aggression.

Highlights of Synthetix perpetual contract products

Don't underestimate this battle on the mainnet; Synthetix is not just a revival of an old project:

Directly using the security of the mainnet, zero risk in bridging.

Supports multiple collateral assets: USDT, sUSDe, cbBTC, wstETH, ETH can all be used.

Orders are not publicly displayed, ensuring trading privacy.

Community market maker treasury, making profits more decentralized.

Supports up to 100x leverage, allowing experts to showcase their skills.

The most outrageous part is the performance. The mainnet DEX has been criticized for being slow and expensive, but they achieved over 100,000 TPS with off-chain matching + on-chain settlement, with almost zero gas fees, making it feel completely unlike using Ethereum.

The whitelist is now open, pay attention if you want to experience it first👇

🔹 Top 20 sUSD deposits

🔹 Top 10 sUSDe deposits

🔹 Plus 5 lottery spots

Its token $SNX has been listed on Binance spot trading for several years, compared to new projects like Aster, HYPE, MYX, which have FDVs in the billions, SNX still has at least 3-5 times growth potential.

Many new projects like Aster choose to pursue performance and smooth experiences with a lighter Layer 2 architecture, which is certainly not wrong, but Synthetix's path seems more focused on solidifying the foundation of the entire mainnet ecosystem, ensuring safety, stability, and a mature mechanism, serving as a foundational pillar that can support long-term narratives.

Aster is exploring new boundaries, while Synthetix is continuously strengthening trust in the mainnet. One is expanding territory, while the other is upholding principles and achieving the unexpected.

In my view, the future of DeFi perpetuals does not necessarily have to be fast, but it must be stable. Synthetix is that old-school force that can quietly refine and reshape the perpetual trading space with the security of the mainnet, even in a bear market.

Sometimes, true innovation is not about changing direction, but about taking a single path to the extreme.

With top-tier capital support from Coinbase, DWF, IOSG, etc.,

and now with the mainnet returning + 40% annualized stablecoin yield + a million-dollar competition, returning to 2.5U should also happen very soon.

Official website: https://www.synthetix.io/