Summary
- Synthetix (SNX) announced the acquisition of the leverage token platform TLX.
- It was reported that TLX native tokens will be burned and converted into Synthetix's SNX tokens.
- A leverage token incentive program is also planned.
Decentralized finance protocol Synthetix (SNX) announced the acquisition of the leverage token platform TLX.
According to The Block's report on the 11th (local time), Synthetix stated, "The acquisition of TLX is aimed at generating end-user revenue based on Synthetix. After a thorough audit of the product, we plan to improve parameters and redeploy smart contracts to relaunch TLX products based on the Base Network."
In the future, TLX native tokens will be burned and converted into Synthetix's SNX tokens, and a leverage token incentive program will also be conducted.
YM Lee
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