Synthetix announced it will gradually withdraw its Layer 2 deployment on the Base network and refocus on the Ethereum mainnet. The plan includes halting transactions on the Base network and shutting down liquidity pool (LP) vaults in a phased manner. Synthetix stated that this move is due to infrastructure instability and liquidity fragmentation issues on the Base network.

BlockBeats News, June 14, according to official sources, Synthetix announced that it will gradually phase out its Layer2 deployment on the Base network to refocus on the Ethereum mainnet. It will discontinue Base trading and close its LP vaults. This plan will be executed in phases. Synthetix stated that the decision to gradually phase out its L2 deployment was due to ongoing infrastructure instability and liquidity fragmentation.

Synthetix Gradually Exits Base Network to Refocus on Ethereum Mainnet