Synthetix: Will stop exchanging synthetic currencies other than sUSD on Ethereum and migrate users to the V3 system

ChainCatcher news, the synthetic asset protocol Synthetix announced on social media that it will stop redeeming synthetic currencies other than sUSD on Ethereum and will migrate users to the V3 system.

It is reported that if users hold sETH, sBTC, or any other spot synthetic assets besides sUSD, they must redeem them before April 15. After that, any remaining non-USD spot synthetic currencies can only be redeemed for sUSD through the L1 redemption contract at Chainlink prices.

The official statement indicates that migrating liquidity to sUSD will help introduce liquidity for sUSD and increase activity on Synthetix V3.