Ethereum-based derivatives liquidity protocol Synthetix has begun to pivot from Arbitrum to Base by setting perps trading on the latter network to close-only mode, according to a Jan. 8. blog post . As Synthetix shutters perpetuals trading on Arbitrum, traders can no longer open new positions or increase existing ones. However, existing open positions will not be affected, and traders can reduce or close them at any time. Traders can also migrate their trading to Base as all Arbitrum markets are available there. The move is part of a strategic effort to position the platform at the forefront of decentralized finance (DeFi). It has acquired Kwenta and TLX, two derivatives trading platforms that align with this plan. Synthetix, which was founded in 2017 by Kain Warwick, has a total value locked (TVL) of $210 million in its V3. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io