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The Defiant 2024-12-11 21:09:20

Synthetix to Offer Leveraged Tokens in 2025 after TLX and Kwenta Acquisitions

Synthetix to Offer Leveraged Tokens in 2025 after TLX and Kwenta Acquisitions

Ethereum-based derivatives trading protocol Synthetix announced its acquisition of leveraged token platform TLX in a token-for-token transaction, Synthetix said in a Dec. 10 blog post . The platform is completing a thorough review and audit of all TLX products. After that, it will implement parameter improvements and redeploy all contracts, the statement said. It also plans to kick off a leveraged token incentive program in 2025. “The acquisition of TLX will mark the first end-customer, revenue-generating product built on top of Synthetix that will be owned and operated by Synthetix. This marks a significant milestone in Synthetix’s commitment to expand its product offering and generate additional value for SNX tokenholders,” the Synthetix team wrote in the blog post. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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