- Regulations for trading DeFi derivatives TLX, a leveraged token platform, has been purchased by Synthetix.
- Synthetix claims that in 2025, a leveraged token reward scheme will be unveiled.
DeFi protocol Synthetix has acquired the leveraged token platform TLX in a token-for-token transaction.
As part of the protocol’s new approach, the acquisition team concentrated on creating a decentralized liquidity layer and taking the lead in issuing products on top of it.
Synthetix will own and operate its first end-user, profit-generating product built on top of Synthetix after acquiring TLX.
After a thorough examination of TLX products, Synthetix said it will redeploy all smart contracts and enhance parameters in the next weeks in order to relaunch TLX products on the Base network. The same-named native token from TLX will be burned and changed to Synthetix’s token.
After that, we’ll launch a lucrative leveraged token reward program in 2025.
Synthetix declared that it would create the leveraged tokens for the DeFi network using TLX’s current software as a basis, enabling the protocol to introduce the tokens to the market faster.
In the upcoming months, Synthetix plans to provide a number of structured products, the first of which will be leveraged tokens. Long-term, this product line will increase Synthetix’s potential and produce greater value for SNX stakeholders.
Kain Warwick founded Synthetix in 2017, which enables users to trade fictitious assets on the Ethereum blockchain, including stocks, commodities, and currencies. The entire value locked in the protocol at the time is $242 million.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
