Synthetix: Has launched a perpetual contract DEX on the Ethereum mainnet and will launch an incentive program in Q1 next year.

Odaily Planet Daily reports that Synthetix announced on its X platform that its perpetual contract DEX is now officially launched on the Ethereum mainnet. This private beta test version is only open to 500 whitelisted traders, with a deposit limit of 40,000 USDT per user. Withdrawals will not be enabled initially and will be available within 7 days.

The platform employs a hybrid CLOB model combining on-chain asset custody and off-chain matching to bypass mainnet latency and high gas costs. It initially supports BTC, ETH, and SOL perpetual contracts with up to 50x leverage and plans to introduce multi-collateral margin, RWA support, and incentive programs. Market making and liquidity are provided by SLP Vault, and Synthetix aims to become the first successful CLOB perp trading platform on the Ethereum mainnet.

In addition, the official statement indicated that the incentive program will be launched in the first quarter of 2026.