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TechFlow news: Synthetix has launched its Andromeda version, introducing Core V3 and Perps V3, adding USDC as new collateral, and expanding to Base to achieve a multi-chain protocol.
A key feature of the Andromeda release is the SNX token buyback and burn mechanism implemented via SIP-345, funded by 40% of the fees generated from Perps on Base.
Mechanism overview:
Synthetix launched the Andromeda upgrade, introducing Core V3 and Perps V3, adding USDC as new collateral, and expanding to Base to achieve a multi-chain protocol. A key feature of the Andromeda release is the SNX token buyback and burn mechanism implemented via SIP-345, utilizing 40% of fees generated by Perps on Base. Mechanism overview: 40% to Synthers: 20% to Liquidity Providers: 40%
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