Synthetix launches proposal to acquire Kwenta and restart derivatives trading function

BlockBeats reported that on October 29, Synthetix proposed to acquire Kwenta and restart the derivatives trading function through a merger. The proposal has been sent to the Spartan Council and the Kwenta Council. The proposed strategic acquisition marks Synthetix's commitment to expanding its capabilities and creating value for SNX token holders.

If the proposal is approved, Synthetix will mint up to 9,050,375 new SNX tokens to fund the acquisition.