As a part of Synthetix’s continued transition away from legacy techniques, all Synths on Optimism will likely 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 could be swapped at https://legacy.kwenta.io or https://1inch.com/
February 1, 2026 till April 30, 2026Contracts will likely be deprecated and synth redemption worth will likely 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://assist.synthetix.io/. Ask our useful AI chat bot to attach you with the group.
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 thirty 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 goal to offer ample warning to customers, we anticipate minimal impression from synth deprecation on Optimism. Synths are at the moment not in use by any integration or core Synthetix product, however we nonetheless encourage customers to examine their wallets for synths and shut out any positions.
All at the moment supported Synthetix merchandise together with buying and selling and 420 staking usually are not impacted.
sUSD and SNX on Optimism
Synth deprecation doesn’t impression sUSD or SNX on Optimism at the moment. Each tokens will stay reside on the community, however have restricted utility as we transition our full consideration to Ethereum Mainnet, and will likely be deprecated sooner or later. You possibly can put together for this coming change by bridging your tokens to mainnet.
In case you are 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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