Synthetix 將收購 Kwenta，扭轉 2020 年的分離局面

專門從事衍生性商品的去中心化金融 (DeFi) 協議 Synthetix 宣布計劃收購 Kwenta，這是一家於 2020 年從其生態系統中分離出來的交易所。

Decentralized finance (DeFi) derivatives protocol Synthetix has proposed to acquire Kwenta, a decentralized exchange (DEX) that was spun off from the SNX ecosystem in 2020.

去中心化金融（DeFi）衍生性商品協議 Synthetix 提議收購 Kwenta，這是一家於 2020 年從 SNX 生態系統中剝離出來的去中心化交易所（DEX）。

The acquisition proposal was posted on October 29 on the governance forums of both organizations. If approved, the deal would see Kwenta fully integrated back into the Synthetix platform.

收購提案於 10 月 29 日發佈在兩個組織的治理論壇上。如果獲得批准，該交易將使 Kwenta 完全整合回 Synthetix 平台。

The proposal outlines a plan for Synthetix to acquire the entire circulating supply of Kwenta, which amounts to 532,375 KWENTA tokens. In exchange, Synthetix would issue 9.05 million new SNX tokens specifically for this purpose.

該提案概述了 Synthetix 收購 Kwenta 全部流通供應量的計劃，即 532,375 個 KWENTA 代幣。作為交換，Synthetix 將專門為此目的發行 905 萬個新的 SNX 代幣。

The token swap would be valued at around $13.2 million and would result in a 2.8% inflation of the SNX supply. Each KWENTA token would be exchanged for 17 SNX tokens, a 19% discount compared to the 30-day average price between the two cryptocurrencies.

代幣互換價值約為 1,320 萬美元，將導致 SNX 供應量上漲 2.8%。每個 KWENTA 代幣可兌換 17 個 SNX 代幣，與兩種加密貨幣的 30 天平均價格相比，折扣 19%。

The difference in valuation is due to the disparity in trading volumes — SNX reports a daily trading volume of $20 million on major centralized exchanges, while Kwenta barely reaches $100,000, making it less liquid and offering fewer opportunities for its holders to sell their holdings.

估值差異是由於交易量的差異造成的——SNX 報告稱，主要中心化交易所的每日交易量為2000 萬美元，而Kwenta 幾乎達到10 萬美元，這使得其流動性較差，為其持有者提供出售所持股份的機會也較少。

Among the operational changes, Kwenta’s treasury would be integrated into SNX’s, and Kwenta’s governance structure would be dissolved, transferring control to SNX’s Governance Council, known as the Spartan Council.

在營運變化中，Kwenta 的財務部門將併入 SNX 的財務部門，並且 Kwenta 的治理結構將被解散，將控制權移交給 SNX 的治理委員會（稱為斯巴達委員會）。

For KWENTA token holders, the acquisition would offer them the возможность to exchange their assets for SNX contracts through a token migration contract. The migration would include a three-month lock-up period followed by a nine-month linear vesting schedule. The migration is intended to help provide greater liquidity to KWENTA holders, who have encountered difficulties attempting to convert their assets without taking substantial losses.

對於 KWENTA 代幣持有者來說，此次收購將為他們提供 возможность，透過代幣遷移合約將其資產交換為 SNX 合約。遷移將包括三個月的鎖定期，隨後是九個月的線性兌現時間表。此次遷移旨在幫助為 KWENTA 持有者提供更大的流動性，他們在嘗試轉換資產而不遭受重大損失時遇到了困難。

The protocol has acknowledged that Kwenta’s spinoff in 2020 was a strategic mistake that distanced the protocol from its user base and created an unsustainable economic model for front-ends. By reintegrating Kwenta, SNX aims to regain direct contact with its users, enabling it to improve its perpetual trading engine and develop more competitive and sophisticated derivative products.

該協議承認，Kwenta 在 2020 年的分拆是一個戰略錯誤，導致該協議與其用戶群疏遠，並為前端創建了不可持續的經濟模式。透過重新整合Kwenta，SNX旨在重新獲得與用戶的直接聯繫，使其能夠改善其永續交易引擎並開發更具競爭力和更複雜的衍生產品。