TechFlow news, December 11 — According to an official announcement, decentralized derivatives protocol Synthetix has acquired leveraged token platform TLX via a token swap. The transaction has been approved through SIP-412 and TIP-14 proposals.
Under the terms of the deal, TLX tokens will be exchanged for SNX at an 18:1 ratio, with a 1-month lock-up period followed by 4-month linear vesting. Upon completion, 700,000 sUSD will be airdropped to the TLX community, released linearly over 151 days.
Synthetix plans to launch its new leveraged token product and incentive program on the Base network in early 2025, following code audits and parameter optimizations. This acquisition marks Synthetix's second major acquisition after Kwenta.
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