Synthetix has moved its perps markets on Arbitrum to a close-only mode due to strategic consolidation on Coinbase’s Base network. Arbitrum’s USDx, key for trading, will now be managed by Synthetix Treasury, which is purchasing USDx to ensure liquidity and stability for trading activities.

Synthetix recorded a monthly trading volume of 274 million USD on Base, overshadowing Arbitrum’s 86.2 million USD. The transition involves integrating ecosystem projects into a native trading platform, aligning with its new product strategy to enhance operations beyond being just a platform.