Synthetix Launches the First Decentralized DEX: $1 Million Contest!

Synthetix Launches the First Decentralized DEX: $1 Million Contest!

In the fourth quarter of 2025, Synthetix plans to introduce the first permanent decentralized stock exchange (Dex) on the Ethereum main network. The start, which was announced on September 22, 2025, will be accompanied by a significant trading competition of $ 1 million. During this period, traders have the option of using different assets as a multi-collateral margin, including Susde, Wsteth and CBBTC.

An essential feature of the new Dex is that it will offer gasless trading and zero processing costs. Traders can not only use the margin assets to increase the income, but also avoid tax events when opening perpetual positions. Through the multi-collateral margin design, traders receive flexibility to store portfolios of assets without having to sell them.

Commercial competition and requirements

The trading competition begins in the course of October and will take a month. 100 selected traders, which consist of Kwenta point holders, top users and preliminary inserts, will have the opportunity to act in various markets such as BTC, ETH, SOL and DOGE. The winner of this competition is awarded $ 1 million, supplemented by additional rewards in the form of SNX token.

Synthetix expects the Dex not only strengthen the infrastructure, but also test the trade activities under real market conditions. The reward distribution is directly on-chain, and the winners will be announced in November. This is a step to position the Ethereum main network as the center for powerful perpetual trading, especially below the focus on the approximately $ 90 billion of liquidity, which are present in the current liquidity, staking and credit pools.

Advantages and technological innovations

The innovative multi-collateral margin technology from Synthetix allows traders to secure their positions in a variety of ways and achieve earnings from different sources. For example, traders can store Wsteth, SHorten ETH-Petuals in the same size and at the same time benefit from staking rewards. This flexibility is intended to increase the efficiency and profitability of arbitrage strategies.

In addition, the synthetix dex will remove the need for bridging and improve the compatibility with defi protocols such as AAVE. With the publication of this Dex, Synthetix relies to initiate a new era of decentralized trade and at the same time further strengthen the Ethereum blockchain.

For more details, visit Crypto News.