As a part of Synthetix’s continued transition away from legacy techniques, all Synths on Optimism might be deprecated. This weblog outlines the complete timeline, what actions Synth holders ought to take, and the way redemptions will work after buying and selling is disabled.
Synth holders are strongly inspired to swap their Synths earlier than the top of January to keep away from future reductions and guide redemption processes.
Deprecation Timeline
Milestone
Date
Final day to swap Synths on Optimism
January 31, 2026
Oracle worth is frozen for treasury redemptions
February 1, 2026
Low cost utilized to treasury redemptions
April 30, 2026
Redemptions shut
December 31, 2026
Now, till January 31, 2026Synth swaps on Optimism stay enabled. Holders of sETH, sBTC, and different spot Synths are inspired to swap into sUSD earlier than the deadline to keep away from guide redemption and future reductions. Synths may be swapped at https://legacy.kwenta.io or https://1inch.com/
February 1, 2026 till April 30, 2026Contracts might be deprecated and synth redemption worth might be frozen. Synths could also be redeemed from the Synthetix Treasury on the oracle worth from January thirty first, 23:59:59 UTC by opening a chat at https://help.synthetix.io/. Ask our useful AI chat bot to attach you with the crew.
After April 30, 2026 till December 31, 2026A low cost applies to redemptions after April thirtieth and will increase linearly at 12.5% of the frozen oracle worth per 30 days till reaching 100%. As soon as the low cost charge reaches its most, synth redemptions will finish.
How Does Deprecation Affect Synthetix?
Whereas we purpose to offer ample warning to customers, we anticipate minimal influence from synth deprecation on Optimism. Synths are presently not in use by any integration or core Synthetix product, however we nonetheless encourage customers to verify their wallets for synths and shut out any positions.
All presently supported Synthetix merchandise together with buying and selling and 420 staking usually are not impacted.
sUSD and SNX on Optimism
Synth deprecation doesn’t influence sUSD or SNX on Optimism presently. Each tokens will stay dwell on the community, however have restricted utility as we transition our full consideration to Ethereum Mainnet, and might be deprecated sooner or later. You’ll be able to put together for this coming change by bridging your tokens to mainnet.
If you’re collaborating within the debt jubilee on Optimism, your positions usually are not impacted, and your SNX will stay transferrable on Optimism after your debt jubilee is completed.
Be part of us as we unleash the facility of perps on mainnet.
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