Synthetix suggested that he described himself as a lyra about an exchange of 27 million US dollars in regards to the purchase of a crypto option platform. The plan announced on May 14, 2025 falls under Synthetix Improvement Suggestion 415 (SIP-415) and a community vote for next week.
The deal values ​​lead 27 million US dollars with a swap ratio of 1 SNX to 27 DRV token. To finance it, Synthetix will shape as much as 29.3 million SNX tokens. These tokens might be closed for 3 months, followed by a nine -month linear exercise plan.
According to Coingecko, Snx acted at $ 0.89 and a rise of 11.5%. However, the token stays well below the peak of $ 28.53 in February 2021.
SNX price diagram One-month performance. Source: Coingecko
Kain Warwick, founding father of Synthetix, said:
“Reunification under a banner simplifies our architecture and governance and unlock the subsequent phase.”
Synthetix derived SIP415 Fusion. Source: Synthetixon X
Submit to bolster the offer of crypto derivatives
When approved, the front and option trade instruments from D are integrated into the synthetix ecosystem. These will join existing products reminiscent of perpetuals and app-specific chains, all of that are connected to SNX.
Derived originally began as a spin-off from Synthetix. This acquisition would reverse this separation and produce its functionality back under Synthetix Governance.
The deal follows earlier acquisitions of Synthetix, including Kwenta and TLX. The team has signaled this as a part of a broader efforts to consolidate control over the important thing components of its ecosystem.
Synthetix explained to X that the acquisition contributes to strengthening its position against competitors reminiscent of Binance, Dydx, Hyperliquid and Deribit, which were recently acquired by Coinbase.
SIP-415 votes for the choice of SNX-DRV-SWAP
The proposed SNX -DDRV -OTOKES exchange is just continued if the community is correct. Both synthetix and the token owners must approve SIP-415.
As a part of the plan, DRV holder will receive latest SNX tokens for the defined exchange rate. The tokens will follow a Lockup and Vesting time plan to oversee the market effects.
No additional details got on how the tokens are distributed. However, the proposal confirms that the goal is to mix governance and product supervision inside the ecosystem.
Warwick framed the plan to revive internal coordination in the course of the Department of D. D to realize more smooth protocol development.
Susd PEG plan under SIP-420 still remains to be running
Synthetix also tries to stabilize his stablecoin susd, which has recently dropped to 0.68 US dollars, but has recovered to $ 0.77. The effort is an element of SIP-420.
Warwick began the Susd 420 pool in April to advertise the pieces. The pool offers users who block SUSD for 12 months, 5 million SNX tokens. The aim is to scale back the circulating offer and restore the 1 dollar pen.
Warwick said that the method is currently “very manual” and a user interface is missing. A user interface is in development. He noted that additional measures might be taken under consideration when stacking after the beginning of the user interface.
SIP-420 also relocates the debt risk of stakers to the protocol and changes the best way the exposure within the synthetix ecosystem is treated.
Warwick said that the SNX community had enough resources to resolve the PEG problem by participating within the pool.
