Synthetix don relaunch Perps DEX for Ethereum Mainnet wit private beta and 50x leverage

Synthetix don relaunch dia canonical perpetual futures decentralized exchange (Perps) for Ethereum mainnet inside private beta, wey mark dia return from layer‑2 networks. Di product dey use off‑chain order matching wit on‑chain settlement so user funds still dey for Ethereum L1 but dem fit get low‑latency execution. Di private beta (19 Dec 2025) open wit BTC, ETH and SOL markets and up to 50x leverage. Access limited to 500 users — historical power users, stakers and competition participants — wit 40,000 USDT deposit cap per user; withdrawals disabled at launch and dem dey expect to reopen after about one week as dem dey monitor the deposit contract. Di team wey founders Kain Warwick and Jordan Momtazi dey lead call am early iteration and dem plan quick weekly expansion: new markets, higher deposit caps, increased leverage, multicollateral margin, new order types, real‑world assets (RWAs), deeper Ethereum composability and institutional‑grade CLOB wit off‑chain matching and L1 custody/settlement. Di move back to Ethereum na because gas don drop after upgrades (e.g., Fusaka), dem wan keep custody and settlement on‑chain, and on‑chain composability don improve. Di launch follow competitive trading event wey make serious volume and fees; initial sUSD depositor rewards for Infinex pool don extend to support di rollout. For traders: expect limited initial liquidity and capped exposure during beta, possible short‑term volatility around market additions and reward incentives, and longer‑term rise in on‑chain derivatives activity if Synthetix scale markets and institutional features as dem plan.