Synthetix Plans to Shut Down Its Base Network L2 Deployment and Refocus on Ethereum Mainnet

Decentralized finance platform Synthetix has announced that it will gradually phase out all of its Layer-2 deployments on the Base network by July 7, 2025, refocusing on the Ethereum mainnet and discontinuing Base trading as well as closing the LP vault. This plan will be implemented in stages.

Synthetix stated that the decision to gradually withdraw its L2 deployments was driven by ongoing infrastructure instability and fragmented liquidity.