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Synthetix plans to acquire leveraged Token protocol TLX and launch a fund pool product line
Deep Tide TechFlow news, on November 26, according to official sources, decentralized derivative protocol Synthetix announced plans to acquire leveraged Token protocol TLX, and launched a new product line 'Synthetix Vaults'. According to SIP-412 and TIP-14 proposals, this acquisition is an important step for Synthetix to expand its ecosystem.
Synthetix will launch a diverse range of liquidity pool products in the coming months, including leveraged Token pools and yield generating strategies such as basis trading and funding rate Arbitrage, as well as active management strategies. Synthetix has previously successfully acquired its main front-end integrator, Kwenta, and this acquisition of TLX will further strengthen its Derivatives business layout on the Optimism network.
The newly launched Synthetix Vaults product line will allow users to deposit base Tokens into the liquidity pool and earn profits through Smart Contracts or professional management. Currently, Synthetix has a Lock-up Position of over 100 million dollars in the SNX staking pool on the ETH mainnet and operates 11 liquidity pools on the Perpetual Futures exchange.