Synthetix will start sunsetting all remaining leveraged tokens on Optimism. This is without doubt one of the closing steps in our broader shift away from Layer 2 deployments, as we refocus protocol sources on Synthetix Mainnetthe high-performance perp change being constructed on Ethereum.
This shutdown follows the finished deprecations of our merchandise on Base and Arbitrum. You’ll be able to learn extra about these adjustments in L2s are Useless, Lengthy Reside Ethereum. This represents one of many two remaining steps earlier than whole retirement of L2s is full. For perps merchants on Optimism, no motion is required at the moment, however we encourage you to watch bulletins for future adjustments.
What’s Taking place
All Synthetix-powered leveraged tokens on Optimism are being deprecated. New mints have already been disabled within the app. Over the approaching weeks, the tokens will likely be paused, liquidated, and the ensuing balances returned to customers.
Timeline
Deprecation will happen within the following levels:
- Minting Disabled (August 4, 2025)
Minting has been disabled, and no new leveraged token positions could be opened. - Closing Redemption Window (August 4–11, 2025)
Customers have one week to manually redeem their leveraged tokens. That is the ultimate alternative to exit positions manually. - Liquidation and Airdrop (Begins August 11, 2025)
After the redemption window closes, remaining tokens will likely be liquidated. sUSD will likely be airdropped inside a pair weeks of the liquidation occasion to holders, based mostly on their balances on the time of liquidation.
What You Ought to Do
In case you’re presently holding leveraged tokens, we strongly encourage you to redeem your tokens earlier than the shutdown deadline. Guide redemption provides you with fast entry to your funds and keep away from reliance on the liquidation course of, providing you with full management over your buying and selling.
If You Do Nothing
Any positions that stay after the shutdown deadline will likely be robotically liquidated. You’ll nonetheless obtain your share of the underlying worth by way of airdrop, distributed to the pockets holding the leveraged tokens.
Observe Synthetix carefully as we speedrun to mainnet:
Be a part of the dialog: discord.gg/synthetix
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