Synthetix Launches SNAXchain on Optimism’s Superchain Infrastructure

Synthetix – decentralized finance protocol – is planning SNAXchain, its own application chain, by integrating it into Optimism’s Superchain. It seeks to make SNAXchain the center of governance and protocol decisions should Synthetix grow to more chains and Layer 2 solutions.

What Is SNAXchain Developed by Synthetix on Optimism Superchain

SNAXchain network is built in cooperation with Conduit for the chain support and Wormhole for the cross-chain communication. As a result, SNAXchain is expected to enhance the user utilization and grow in the Optimism Superchain ecosystem if connected to it.

Optimism’s ecosystem uses optimistic rollups which reduces the cost of transactions of decentralized applications. The Optimism DAO governs the ecosystem’s core network, OP Mainnet; other subnets are the Base, Mode, Zora, Lyra, Aevo.

This launch coincides with a new vessel of governance in Synthetix which starts with nominations to different councils via SNAXchain. However, nominee’s independence and nomination must be registered through the SNAXchain platform.

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