Decentralized finance (DeFi) protocol Synthetix is set to introduce its own blockchain, SNAXchain, on Optimism’s Superchain infrastructure. The move is designed to enhance governance and decision-making as Synthetix expands to more blockchain networks and Layer 2 solutions.
SNAXchain will function as a neutral hub for governance, allowing the protocol to maintain streamlined operations across its expanding ecosystem. The project is being developed in partnership with Conduit for chain infrastructure and Wormhole for cross-chain messaging, the team announced.
Optimism’s Superchain infrastructure is expected to boost interoperability for SNAXchain users and facilitate user growth, according to the Synthetix team. Optimism utilizes optimistic rollups to lower transaction costs for decentralized applications and is governed by a decentralized autonomous organization (DAO) called the Optimism Collective. Other networks within the Optimism ecosystem include OP Mainnet, Base, Mode, Zora, Lyra, and Aevo.
The SNAXchain launch coincides with a new governance epoch for Synthetix, starting with nominations for various governance councils. Candidates will submit nominations via SNAXchain, the team added, marking a key step in the protocol’s evolution.
