As a part of Synthetix’s continued transition away from legacy techniques, all Synths on Optimism will probably 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 tip of January to keep away from future reductions and handbook 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, 2026
Synth 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 handbook redemption and future reductions. Synths could be swapped at https://legacy.kwenta.io or https://1inch.com/
February 1, 2026 till April 30, 2026
Contracts will probably be deprecated and synth redemption worth will probably 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, 2026
A reduction applies to redemptions after April thirtieth and will increase linearly at 12.5% of the frozen oracle worth monthly till reaching 100%. As soon as the low cost price reaches its most, synth redemptions will finish.
How Does Deprecation Impression Synthetix?
Whereas we purpose to offer ample warning to customers, we count on minimal affect from synth deprecation on Optimism. Synths are at present not in use by any integration or core Synthetix product, however we nonetheless encourage customers to test their wallets for synths and shut out any positions.
All at present supported Synthetix merchandise together with buying and selling and 420 staking will not be impacted.
sUSD and SNX on Optimism
Synth deprecation doesn’t affect sUSD or SNX on Optimism at the moment. Each tokens will stay stay on the community, however have restricted utility as we transition our full consideration to Ethereum Mainnet, and will probably 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 will not be impacted, and your SNX will stay transferrable on Optimism after your debt jubilee is completed.
Be a part of us as we unleash the ability of perps on mainnet.
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