Decentralized finance (DeFi) protocol Synthetix (SNX) is working toward launching its application blockchain, dubbed SNAXChain, according to a blog post published on September 4, 2024.
Synthetix SNAXChain To Launch On Optimism’s Superchain Infrastructure
Ethereum-based derivatives liquidity protocol Synthetix is set to unveil SNAXChain, an application blockchain built on Optimism’s Superchain infrastructure.
For the uninitiated, Ethereum layer-2 (L2) scaling network Optimism’s Superchain is essentially a network of L2 chains, known as OP chains. These chains share security features a communication layer, and are powered by an open-source technology stack.
The Superchain ecosystem is governed by the Optimism Collective, a decentralized autonomous organization (DAO). Examples of existing OP chains include Base, Lyra, Mode, and Zora, with SNAXChain poised to join the list.
The launch of SNAXChain aims to improve the protocol’s efficiency and scalability to offer a
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