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Synthetix Expands DeFi Footprint with TLX Acquisition

Synthetix, a decentralized finance (DeFi) protocol , has made a major move in the crypto space with a notable acquisition. Synthetix acquired TLX, the leverage token platform, through a token-for-token transaction. Synthetix announced that the acquisition gained approval on SIP-412 and TIP-14. This acquisition comes shortly after a similar procurement of Kwenta. Leveraged Tokens and Their Role in DeFi Synthetix clarified these moves are steps in the protocol’s strategy of evolving as a principal product issuer after designing a decentralized liquidity layer. For clarification, leveraged tokens refer to the tokenized form of a levered strategy that multiplies the results of the price movement of an underlying asset like Ethereum or Bitcoin. Leveraged tokens allow users to access leverage without trading on a perpetual futures platform. It also eliminates the need to manage margin requirements. Additionally, traders can easily mint their leveraged token, transfer it, and redeem it at their convenience. According to the paraent platform, TLX’s acquisition is the maiden end-customer, revenue-generating product developed on Synthetix. The protocol owns it and will be responsible for its operation. Synthetix to Unveil Incentive Program in 2025 Users should anticipate the “juicy leveraged token incentive” program in 2025. As per its update, this will happen as soon as a thorough audit of TLX products has been conducted. Synthetix says it plans to improve parameters and redeploy all smart contracts. Once done, it will relaunch TLX products on the same Base network. TLX, which is also the native token, will be incinerated and changed to Synthetix’s token to complete the acquisition and switch. To guarantee a quicker route to launching, Synthetix says it will utilize TLX’s existing codebase as a basis for its designs. That is, it will be used to design the DeFi protocol’s leveraged tokens in a bid to hit the market faster. Synthetix’s Growing Impact on DeFi Kain Warwick founded Synthetix in 2017. The platform allows users to trade synthetic assets, such as stocks, currencies, and commodities, on the Ethereum blockchain amid scaling potentials . According to data from DefiLlama, the protocol holds a total value locked (TVL) of $242 million. This represents significant growth and confidence on the part of investors in the future of Synthetix. The post Synthetix Expands DeFi Footprint with TLX Acquisition appeared first on TheCoinrise.com . The Daily Hodl

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Pepe Loves Santa (PEPESAN) Solana Memecoin Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag

Pepe Loves Santa could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Pepe Loves Santa (PEPESAN), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because PEPESAN is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Pepe Loves Santa can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Pepe Loves Santa could become the next viral memecoin. Pepe Loves Santa launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Pepe Loves Santa on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Loves Santa by entering its contract address – 9FuN9o4pQgF3NF1v2saWvb7b9hNKDJ1DGU6LSbur437Q – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPESAN. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. The Daily Hodl