🔥Hey, crypto lovers! Synthetix (SNX) announced its V3 migration plan! 🚀 It will start with SNX migration from Ethereum mainnet to V3 in June. This will ensure that the real return is generated from trading fees and distributed to liquidity providers. It will also offer a mechanism to purchase and burn SNX tokens. 🎉

The V3 transition will bring significant changes that include a buyback or burn mechanism to reduce SNX supply and collateralization of sUSD with assets such as SNX, ETH, USDC, and yield-producing collateral. Additionally, Synthetix will simplify liquidity provision with its delta-neutral design for Perps and Spot Markets. 📈

Starting next week, a number of supporting initiatives will be implemented, such as sUSD rewards on Velodrome, which offers an additional 10,000 OP tokens per week for sUSD or USDC liquidity. Additionally, there will be an extra 20,000 SNX incentives for sUSD liquidity pools on Curve. 🎁

Synthetix is ​​also a DeFi platform that provides liquidity for various permissionless derivatives. Synthetix co-founder Kain Warwick has launched Infinex, a front-end platform designed to unify decentralized finance applications into a single user-friendly interface. 🌐

What do you think about these exciting developments? I'm waiting for your comments! 🚀🌕#Synthetix#SNX#V3#DeFi #Cryptocurrency