As a part of Synthetix’s continued transition away from legacy techniques, all Synths on Optimism will probably be deprecated. This weblog outlines the total 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 will be swapped at https://legacy.kwenta.io or https://1inch.com/
February 1, 2026 till April 30, 2026Contracts 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, 2026A low cost applies to redemptions after April thirtieth and will increase linearly at 12.5% of the frozen oracle worth per 30 days till reaching 100%. As soon as the low cost price reaches its most, synth redemptions will finish.
Please observe: solely the holder of synths on the deprecation date, February 1 2026, are eligible for treasury redemption. Please don’t switch or purchase synths on the open marketplace for redemption after this date.
How Does Deprecation Affect Synthetix?
Whereas we goal to supply ample warning to customers, we count on minimal influence 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 verify their wallets for synths and shut out any positions.
All at the moment supported Synthetix merchandise together with buying and selling and 420 staking will not be impacted.
sUSD and SNX on Optimism
Synth deprecation doesn’t influence sUSD or SNX on Optimism right now. 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 may put together for this coming change by bridging your tokens to mainnet.
In case you are taking part 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 part of us as we unleash the ability of perps on mainnet.
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