Developer Ecosystem
End User Experience & Adoption
OP Stack
Synthetix
Synthetix provides liquidity for permissionless derivatives on-chain
Appears in
54 ballots
Contribution
Synthetix, an open-source DeFi protocol, enables developers to create derivative protocols on Optimism by leveraging its robust liquidity and infrastructure. As the #1 protocol on Optimism by TVL, Synthetix helps to onboard high-value DeFi developers, protocols, and users into the Optimism collective. Synthetix was the first protocol to launch on Optimism and has a long history of working alongside the Optimism to support the collective.
We have already assisted in onboarding a significant number of developers and protocols to Optimism and aim to maintain this momentum with our upcoming V3 release.
In addition to the successes of Synthetix at the protocol level, we have also nurtured a community that serves as a breeding ground for users contributing to the OP Collective.
Impact
Synthetix's presence on Optimism significantly contributes to the growth and vibrancy of the ecosystem. By providing liquidity and infrastructure, it enables the seamless creation of derivative protocols, attracting a broader developer and user base to Optimism.
Synthetix has onboarded and supported ecosystem developers and projects, including Kwenta, Polynomial, Lyra, Thales, dHEDGE/Toros, Rage Trade, and more.
Our community has established itself as a hub of open-source developers, data scientists, and value-adding users contributing to the OP Stack. Examples include:
- Identified issues that led to OP Stack sequencer upgrades
- Developer tooling (Cannon and Synpress)
- Decentralized frontend innovations
- Open-source indexer from Polynomial
- Dune Dashboards and OP Data Analysis
Impact Metrics
Funding sources
Governance fund
Phase 0 OP Distribution
9,000,000.00 OP