“In 2022, Synthetix left Ethereum Mainnet, lured by the low fees and abundant blockspace of Optimism,” said Synthetix in a blog post.
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“But we quickly (slowly) learned that the layer two scaling roadmap had some harsh trade-offs for applications.”
High gas fees and congestion drove Synthetix to L2s in 2019, fragmenting liquidity across chains. But Synthetix says Ethereum’s upgrades have now resolved these issues, allowing high-volume DeFi products like a perps DEX to thrive on mainnet security.
The relaunch of Synthetix’s perpetual DEX went live on the mainnet on Thursday in a private beta limited to 500 whitelisted traders.