Synthetix Returns To Ethereum Mainnet After 3 Years
Synthetix, a perpetuals trading platform, is returning to Ethereum’s mainnet as its founder, Kain Warwick, believes the network is now sufficiently scalable for high-frequency financial applications. In the past, high gas fees and network congestion forced Synthetix and other derivatives platforms to move to Ethereum layer-2 solutions or alternative blockchains. However, improved network efficiency and significantly reduced gas fees—down to 0.71 gwei from 18.85 gwei a year ago—have made mainnet viable for complex trading once again. Warwick argues that most crypto liquidity and assets reside on Ethereum mainnet, making it the most efficient onchain market. He predicts that other perpetual DEXs will soon follow Synthetix’s lead and return to mainnet, as Ethereum development in 2025 has greatly improved the network’s builder support and scalability. Future scaling upgrades, such as increased gas limits, are expected to further boost capacity.
