Synthetix 提議以 1,320 萬美元收購 Kwenta，以統一協議並加強市場地位

Synthetix 提出以 1,320 萬美元代幣收購 Kwenta，旨在鞏固其業務並加強其去中心化能力

DeFi protocol Synthetix (SNX) has proposed to acquire Kwenta (KWENTA) in a deal valued at $13.2 million.

DeFi Protocol Synthetix (SNX) 擬以 1,320 萬美元的價格收購 Kwenta (KWENTA)。

The acquisition will see Synthetix buy all circulating Kwenta tokens (532,375 KWENTA) for 9.05 million new SNX tokens, increasing the total supply of SNX by 2.8%. The token swap will be at a 19% discount to the recent average trading ratio.

此次收購將使 Synthetix 以 905 萬個新的 SNX 代幣購買所有流通的 Kwenta 代幣（532,375 KWENTA），使 SNX 的總供應量增加 2.8%。本次代幣互換將較近期平均交易比例折價 19%。

As part of the deal, Kwenta’s treasury will be merged into Synthetix’s resources, while Kwenta’s governance structure will dissolve, transferring control to Synthetix’s Spartan Council.

作為交易的一部分，Kwenta 的財務部門將併入 Synthetix 的資源，而 Kwenta 的治理結構將解散，將控制權移交給 Synthetix 的斯巴達委員會。

Synthetix also intends to simplify liquidity access for current KWENTA holders through a token migration program, where KWENTA holders will exchange tokens for SNX vesting contracts. These vesting contracts will lock tokens for three months, followed by a nine-month gradual release schedule.

Synthetix 也打算透過代幣遷移計劃簡化目前 KWENTA 持有者的流動性獲取，KWENTA 持有者將用代幣交換 SNX 歸屬合約。這些歸屬合約將鎖定代幣三個月，然後是九個月的逐步釋放計畫。

The acquisition is expected to enhance Synthetix’s decentralized derivatives platform and strengthen its market position in the rapidly growing DeFi derivatives space.

此次收購預計將增強 Synthetix 的去中心化衍生性商品平台，並鞏固其在快速成長的 DeFi 衍生性商品領域的市場地位。

In a tweet, Synthetix acknowledged past mistakes, saying the 2020 spin out was a mistake that distanced the company from its users. The acquisition will allow Synthetix to get back in front of customers and improve perpetual products.

Synthetix 在一條推文中承認了過去的錯誤，並表示 2020 年的分拆是一個導致公司與其用戶疏遠的錯誤。此次收購將使 Synthetix 重新回到客戶面前並改進永久性產品。

DeFi Derivatives on the Rise as Markets Shift

隨著市場轉變，DeFi 衍生性商品不斷上漲

DeFi derivatives are gaining traction as investors are increasingly utilizing derivatives to gain exposure without committing the full capital.

隨著投資者越來越多地利用衍生性商品在不投入全部資本的情況下獲得曝險，DeFi 衍生性商品越來越受到關注。

A recent Financial Times article highlighted that derivatives trading now constitutes 71% of all digital asset trading volumes with open interest crossing $40 billion in 2024.

《金融時報》最近的一篇文章強調，衍生性商品交易目前佔所有數位資產交易量的 71%，到 2024 年，未平倉合約將突破 400 億美元。

Following the collapse of major lenders in 2022, unsecured borrowing options have vanished, leading traders to explore derivatives as a capital-efficient solution.

2022 年主要貸方倒閉後，無擔保借貸選擇已經消失，導致交易者開始探索衍生性商品作為資本高效的解決方案。

The proposed acquisition is aligned with Synthetix’s strategy to expand its DeFi product offerings and capture a larger share of the derivatives market.

此次擬議的收購符合 Synthetix 擴大 DeFi 產品供應並佔領衍生性商品市場更大份額的策略。