Reported by The Block: Synthetix has introduced a blockchain named SNAXchain using Optimism’s infrastructure.
The development of the network involves a partnership with Conduit.
DeFi protocol Synthetix is working on introducing its app chain, SNAXchain, on Optimism’s Superchain infrastructure.
The team announced that SNAXchain aims to serve as a neutral hub for governance and protocol decisions as Synthetix expands to more chains and Layer 2 solutions.
The network has been developed with partnerships with Conduit for chain infrastructure and Wormhole for cross-chain messaging.
Optimism Superchain infrastructure is expected to enhance user interoperability and facilitate user growth for SNAXchain, the team noted.
The chains in the Optimism Superchain ecosystem utilize optimistic rollups on top of Ethereum to reduce transaction costs for decentralized applications. This ecosystem is governed by a DAO known as the Optimism Collective. The ecosystem’s flagship network is OP Mainnet. Other chains include Base, Mode, Zora, Lyra and Aevo.
The rollout comes amid a new governance epoch for Synthetix, starting with nominations for various governance councils. The project added that candidates must nominate themselves via the SNAXchain.
Optimism
Synthetix
