Synthetix returns to the Ethereum mainnet after three years.

Perpetual contract trading platform Synthetix has announced its return to the Ethereum mainnet. Its founder, Kain Warwick, stated that previously, high gas fees and network congestion forced derivatives platforms, including Synthetix, to migrate to Layer 2 networks or other alternative blockchains. However, transaction fees on the Ethereum mainnet have now significantly decreased, enabling it to once again run high-frequency financial applications. Synthetix migrated to the Ethereum Layer 2 network Optimism in 2022, and subsequently expanded to Arbitrum and Base.