Infinex Extends sUSD Deposit Rewards 8 Weeks — Weekly 10,000 SNX + ETH, INX, SNX Raffles
Infinex and Synthetix have extended the sUSD deposit incentive program for a further eight weeks, running from March 13, 2026 to May 8, 2026. Eligible users who hold at least 1,000 sUSD on the last day of each week will share a pro‑rata weekly rewards pool of 10,000 SNX; rewards accrue continuously and are distributed weekly. In addition, Synthetix will operate a weekly raffle with five prizes (1st — 1 ETH; 2nd & 3rd — 100,000 INX each; 4th — 2,000 SNX; 5th — 1,000 SNX). Raffle entries are granted at one entry per 1,000 sUSD held. Deposits can be made on Ethereum Mainnet or Optimism, and users may swap other assets into sUSD via Infinex. The announcement reiterates Infinex’s non‑custodial on‑chain smart account model and Synthetix’s role as a decentralized perpetuals protocol returning liquidity to Ethereum. Traders should note the extension may temporarily boost demand for sUSD and SNX, that weekly distributions create predictable short‑term flows, and that yields will vary with total sUSD TVL and SNX price — monitor the Infinex TVL dashboard and SNX markets to estimate effective yields and manage exposure through the May 8, 2026 end date.
Bullish
The extension of the sUSD deposit rewards program is likely bullish for SNX (and supportive for sUSD) in the short to medium term. Direct demand mechanics: weekly distribution of 10,000 SNX to depositors and a high‑value raffle increase buying and holding incentives for sUSD deposits on Infinex, reducing available SNX on spot markets as rewards are claimed and potentially sold, and increasing sUSD TVL. Short‑term effects include predictable inflows into sUSD and upward pressure on SNX price as reward demand concentrates and some participants accumulate SNX rather than selling immediately. The raffle (large INX and ETH prizes) can attract additional depositors, amplifying flows. However, the magnitude depends on program participation, SNX recipients’ sell behavior, and overall market conditions. Over the longer term, the effect is less certain: once the program ends (May 8, 2026), demand created by incentives may unwind and lead to selling pressure if recipients exit positions, which could moderate gains. Traders should monitor TVL, SNX spot flows, on‑chain claims, and whether treasury or market makers provide offsets. Net impact while the program runs is likely bullish for SNX; post‑program risk could be neutral to bearish if large sell‑offs occur.