Synthetix V3 is now available on Base. Users can deposit USDC to earn USDC/SNX LP trading rewards and incentives. Additionally, traders can start trading Synthetix Perps.
![Synthetix V3 is available on Base](https://blog.synthetix.io/content/images/size/w2000/2024/04/Synthetix-on-Base--Andromeda-Release---2-.png)
Synthetix V3 is now available on Base, allowing users to provide liquidityEarn trading fees and receive USDC/SNX LP incentives.
Users can now participate as liquidity providers by providing USDC collateral to the Spartan Council Pool. In exchange, they will earn a share of Perps trading fees and be eligible for USDC/SNX LP incentives provided by the Synthetix Treasury Council.
As liquidity increases, Synthetix V3 on Base will be able to support increased open interest and introduce new markets.
To get started as an LP and learn more about incentive programs, follow the instructions in the “Providing Liquidity” and “Earning SNX and USDC LP Incentives” sections below.
Provide liquidity
To provide liquidity, earn fees, and receive USDC/SNX LP incentives on base deployment:
- Go to https://liquidity.synthetix.eth.limo/
- Follow the Basic LP Guide V3 post USDC collateral
In V3, user rewards are based on the amount provided by the guarantee. Currently, users can only deposit USDC to earn fees without creating stablecoins (i.e. debt). Additionally, users cannot withdraw guarantees and rewards for 24 hours after depositing.
Earn SNX and USDC LP Incentives
Synthetix has introduced two incentive programs (USDC and SNX) rewarding USDC LPs for collateral provided to accelerate Perps V3 base growth. Learn more about the programs and how to participate as an LP.
Perps V3: Key Upgrades
Building on V2, Perps V3 introduces significant upgrades to the system, thereby improving the liquidity provider and trader experience.
- Native cross margin with a unified margin pool for all positions.
- Progressive and configurable liquidations to reduce MEV risks.
- Improved deterministic settlements with low-latency oracles.
- NFT-controlled accounts allow transfer and access to permissions.
Experimental deployment and future improvements
Base deployment experiences with USDC as a new type of collateral. Governance will continually adjust parameters, increasing caps on collateral, open interest and supported markets. The current breakdown of costs is as follows:
- 20% to frontend integrators
- 40% for SNX buybacks and burns
- 40% to liquidity providers
As Synthetix refines its V3 contracts and expands on Base, users can expect new enhancements and launches within the ecosystem.
Trading Synthetix Perps based
Since April 4, 2024, the following partners have been integrated into Synthetix Perps on Base:
Questions?
Join Synthetix Discord for any questions or concerns.