Synthetix Plans to Shut Down Base Network L2 Deployment and Refocus on Ethereum Mainnet

According to Deep Tide TechFlow, on June 14, the decentralized finance platform Synthetix announced that it will gradually phase out all its Layer-2 deployments on the Base network by July 7, 2025, refocusing on the Ethereum mainnet and disabling Base trading as well as closing the LP vaults. This plan will be implemented in stages.

Synthetix stated that the decision to gradually withdraw its L2 deployments stems from ongoing infrastructure instability and liquidity fragmentation.