Synthetix launches multi-collateral perps on Base amid revamp
The DeFi protocol also launched an in-house perpetuals trading app.
Decentralized finance (DeFi) protocol Synthetix has begun accepting multiple token types as collateral for leveraged perpetuals trading on Coinbase’s Base network, Synthetix said on Dec. 18.
Launching so-called “multicollateral perps” on Base, one of Ethereum’s most popular layer 2 (L2) scaling networks, is part of a broader revamp of the DeFi protocol after a governance shakeup in October.
Adding multi-collateral perps will allow users to post tokens such as Coinbase Wrapped BTC (cbBTC) and Coinbase Wrapped ETH (cbETH) as trading collateral, Synthetix said.
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Author: Alex O’Donnell
