According to The Block, Synthetix has launched a blockchain called SNAXchain, using Optimism’s infrastructure. The network was developed in partnership with Conduit.
DeFi protocol Synthetix is working on introducing its application chain SNAXchain on Optimism’s Superchain infrastructure.
The team announced that SNAXchain is intended to serve as a neutral center for governance and protocol decisions as Synthetix expands to more chains and Layer 2 solutions.
The network is being developed in partnership with Conduit to provide chain infrastructure and Wormhole to enable cross-chain messaging.
The team noted that the Optimism Superchain infrastructure is expected to enhance user interoperability and promote user growth for SNAXchain.
The chains in the Optimism Superchain ecosystem use optimistic rolling technology on Ethereum to reduce transaction costs for decentralized applications. The ecosystem is governed by a DAO called Optimism Collective. The flagship network of the ecosystem is OP Mainnet, and other chains include Base, Mode, Zora, Lyra, and Aevo.
The launch coincides with a new era of governance for Synthetix, with nominations for various governance committees beginning. Candidates must self-nominate through SNAXchain, the project added.
