Synthetix Bridge Powered by Socket

We’re excited to announce the Synthetix Bridge, powered by Socket, the perfect multichain onboarding to bring the next billion users to the flourishing Synthetix ecosystem!

Synthetix — The DeFi Powerhouse

Synthetix is the leading platform in decentralised finance for issuance of synthetic assets with 200K+ ETH TVL, a whopping 120M+ ARR in fees & powering perps, options, coordination markets for over 10+ apps built on top!

Synthetix started as an Ethereum-based protocol & soon migrated to L2s to reduce transaction costs. While Optimism provides a faster and cheaper experience, users participating from other chains are still left to figure out a way to bridge over. Furthermore even pre-bridging, users need to figure out ways to acquire a synth in the first place!

The above can seem like a simple problem but creates a broken & painful experience for first-time users entering into the Synthetix ecosystem thus hindering the full potential of sUSD & synths adoption!

Synthetix Bridge

Synthetix bridge enables Synthetix to provide the perfect onboarding experience for users & makes sUSD/synths the most accessible & liquid asset from all chains:

• Access across chains: Synthetix users are spread across chains and the bridge can provide onboarding across 8+ chains(starting with Ethereum & Optimism). Synthetix can serve the multichain right from Optimism!
• Any to Any asset: New users entering the Synthetix ecosystem need a Synth asset(sUSD, SNX, sBTC & sETH) to even get started. The new Synthetix bridge is flexible in allowing users to start from any token they hold & directly zap into a synth asset all in one bridging transaction
• Refuel: Gas-less bridging has been a major problem in the industry and has left many stranded upon arrival on a new chain. Synthetix bridge also allows users to bridge native gas so they can immediately start interacting with the ecosystem

The bridge is live here & you can start using it already!

Socket Power Up

The Synthetix Bridge under the hood is powered by Socket’s Liquidity Layer that brings an aggregated layer of various asset bridges and DEX aggregators under one roof!

The next wave of web3 users will taste DeFi on optimistic rollups & the first step to kick-start it is to onboard users from all chains.

Get plugged into Socket to take your protocol multi-chain & prepare for the glorious #L222 summer!

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