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Synthetix Announces Andromeda Release Featuring Core V3 and Perps V3 Deployment

06/01 15:57

According to Foresight News, Synthetix has announced the release of its Andromeda version, which introduces Core V3 and Perps V3 deployment, adds USDC as new collateral, and expands to the Base chain. This move makes Synthetix a multi-chain protocol. A key feature of this release is the implementation of a buyback and burn mechanism for SNX tokens. According to SIP-345, 40% of the fees earned on Base are designated for the buyback and burn of SNX tokens, executed through a buyback and burn contract. This strategy aims to effectively allocate fee revenue in Synthetix's multi-chain deployment.

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