- Optimism’s OP Stack has received yet another big nod.
- Synthetix’s OP-powered app chain will play a key role in the protocol’s expansion strategy.
- Synthetix is wasting no time to leverage the chain.
From Coinbase‘s Base to Sony’s Soneium, the Optimism network‘s OP Stack has emerged as a fan favorite among major firms and projects seeking to spin off their Layer 2 chain. The latest to join this impressive lineup is leading DeFi protocol Synthetix.
Synthetix Unveils OP-Powered SNAXchain
The Optimism Superchain network has been bolstered by a major DeFi player. On Wednesday, September 4, leading derivatives trading protocol Synthetix disclosed that it had launched an app chain called SNAXchain on Optimism’s Superchain Infrastructure.
Sponsored
SNAXchain will play a crucial role in Synthetix’s expansion strategy, acting as a neutral hub for governance and protocol decisions as Synthetix expands to offer derivatives trading across multiple blockchains, including other Layer 2 chains.
Synthetix’s SNAXchain boasts partnerships with Conduit for chain infrastructure and Wormhole for cross-chain messaging between Optimism and the Ethereum mainnet. Synthetix tipped these partnerships and Optimism’s Superchain infrastructure to eventually unlock greater utility for SNAXchain. Already, Synthetix expects the Superchain’s planned native interoperability to drive users to SNAXchain.
The SNAXchain launch comes as Synthetix is set to start a new governance epoch. The new Layer 2 chain will play its first key governance role in this epoch as aspiring nominees to various councils will have to enter their nominations on the new blockchain.
Read this for more on Optimism:
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