Synthetix Votes to Raise Base Deposit Limit to $100 Million
CryptoNewsTerminal Staff20 May, 2024
Synthetix Votes to Raise Base Deposit Limit to $100 Million
[Coinbase's Layer 2 Blockchain Base Set to Receive Increased Deposit Limit] Synthetix (SNX), a decentralized synthetic asset protocol, is considering a proposal to raise the deposit limit for Coinbase's Layer 2 blockchain Base from $21 million to $100 million. The proposition, put forth by Spartan Council member Synthaman, is now open for voting. If approved, the increase would allow users to deposit more funds into Base, facilitating greater liquidity and trading activity on the platform. The proposal aims to bolster the adoption and utility of Base within the Synthetix ecosystem. The voting period for the proposal is ongoing, with community members encouraged to participate and voice their opinions on the matter. The outcome of the vote will determine whether the deposit limit adjustment will be implemented.
