Synthetix DEX Makes a Comeback on Ethereum Mainnet After 2022 Departure

Synthetix Network has announced its return to the Ethereum mainnet, reintroducing its perpetual futures decentralized exchange (DEX) after a two-year absence. The protocol believes that enhancements in scalability have made layer-1 trading viable once again.

Key Takeaways

Return to Mainnet: Synthetix has relaunched its perpetual futures DEX on Ethereum, marking its first mainnet presence since migrating to layer-2 networks in 2022.
Private Beta Launch: Access to the platform is currently limited to 500 selected users, with a focus on Bitcoin, Ethereum, and Solana markets.
Future Developments: The platform aims to introduce new markets, increased leverage, and additional features over the coming months.
Internal Changes: Synthetix has undergone significant internal restructuring, with key founders returning to leadership.
Lower Gas Costs: Recent improvements in Ethereum’s infrastructure and lower transaction costs have prompted Synthetix to return to the mainnet.

Synthetix brings perpetuals back to Ethereum mainnet

Perpetual Trading Resumes with Limited Availability

Synthetix has officially launched its perpetual futures DEX on the Ethereum mainnet. This relaunch kicks off with a private beta phase, allowing a select group of 500 users to participate. These users, chosen from contributors, stakers, and seasoned traders, currently have access to Bitcoin, Ethereum, and Solana markets. The platform allows users to leverage their trades by up to 50x.

Introducing Synthetix Perps on Ethereum Mainnet ⚔️

We are excited to announce that Synthetix, the leading perpetual DEX on Ethereum, is now live.

📘 https://t.co/wF8YiMLJVt

🧵⬇️ pic.twitter.com/CqcptUK96R — Synthetix ⚔️ (@synthetix) December 19, 2025

Deposits are capped at 40,000 USDT per user, and withdrawals will be disabled initially, expected to become available about a week later, post monitoring of on-chain deposit activities.

Synthetix indicates that this is just an early version of the platform. Plans are in place to introduce new markets weekly, as well as to raise leverage limits, increase deposit caps, and add further trading functionalities in the upcoming months.

Reasons Behind Synthetix’s Ethereum Comeback

Synthetix initially exited the Ethereum mainnet in 2022 due to high gas fees that hindered high-frequency trading. After operating on several layer-2 solutions like Optimism, Arbitrum, and Base, the team realized that these environments presented limitations that could no longer be overlooked.

The revamped system employs off-chain order matching alongside on-chain settlement, ensuring that user funds remain on Ethereum while trades settle directly on layer 1, making withdrawals permissionless. This new configuration promises low latency while maintaining custody and settlement on Ethereum.

Recent upgrades to the Ethereum network, such as lower gas prices and innovations like Fusaka, played a significant role in this decision. The Synthetix team now believes that Ethereum is capable of handling more sophisticated trading activities without requiring users to bridge assets or fragment liquidity across various networks.

Co-founder Kain Warwick stated that this transition is the result of years of experience, emphasizing that traders often prefer platforms where custody, settlement, and composability are strongest.

Moving forward, Synthetix plans to expand its services throughout 2026. This expansion includes introducing multi-collateral margin, new order types, access to real-world asset markets, and deeper integration with other Ethereum-based DeFi applications.