synthetix Q4 2024》狀態》

本文是根據Messari出版的原始材料對Synthetix在2024年第四季度的表現的彙編和分析

Compiled by: Scof, ChainCatcher

編譯者：SCOF，ChainCatcher

Original Author: Troy Harris

原始作者：特洛伊·哈里斯（Troy Harris）

Original Article: Messari

原始文章：Messari

Original Title: 《State of Synthetix Q4 2024》

原始標題：Synthetix Q4 2024》

This article is a compilation and analysis of Synthetix's performance in the fourth quarter of 2024, based on original materials published by Messari. It covers major developments in the governance structure, product layout, trading activity, market data, and financial status. The article aims to provide readers with a concise, data-driven reference to help understand Synthetix's performance and trends in the current market environment.

本文是根據Messari出版的原始材料對Synthetix在2024年第四季度的表現的彙編和分析。它涵蓋了治理結構，產品佈局，交易活動，市場數據和財務狀況的重大發展。本文旨在為讀者提供簡潔的，數據驅動的參考，以幫助了解Synthetix在當前市場環境中的績效和趨勢。

Key Metrics

關鍵指標

| Metric | Q4 2024 | Q3 2024 | Change | Year-over-Year Change |

|公制| Q4 2024 | Q3 2024 |更改|同比變化|

|---------------------------------|----------|----------|---------|----------------------|

| -------------------------------------------------------------------------------------------------------------------------------------------- |

| Average daily perpetual contract trading volume | $71.7M | $55.8M | 29% | -50% |

|平均每日永久合同交易量| $ 7170萬美元| 5580萬美元| 29％| -50％|

| Average daily perpetual contract trades | 1,700 | 1,400 | 25% | -33% |

|平均每日永久合同交易| 1,700 | 1,400 | 25％| -33％|

| Average daily active users (DAU) | 236 | 207 | 14% | -47% |

|平均每日活躍用戶（DAU）| 236 | 207 | 14％| -47％|

| Total value locked (TVL) | $378.9M | $375.4M | 1% | 31% |

|總價值鎖定（TVL）| $ 3.789億美元| $ 3.754億美元| 1％| 31％|

| Average open interest | $195.4M | $134.8M | 62% | 45% |

|平均開放興趣| 1.954億美元| 1.348億美元| 62％| 45％|

| Average daily transaction fees | $34,400 | $24,000 | 42% | -67% |

|平均每日交易費用| $ 34,400 | $ 24,000 | 42％| -67％|

Protocol Analysis

協議分析

Perpetual Contracts

永久合同

The average daily trading volume for perpetual contracts in Q4 was $71.7 million, a 29% increase from Q3, but a 50% decrease year-over-year.

第四季度永久合同的平均每日交易量為7170萬美元，比第三季度增長29％，但同比減少50％。

Usage of V3 perpetual contracts slowed, with trading volume decreasing by 38% quarter-over-quarter. This varied across different chains, with Base and Arbitrum showing smaller decreases of 26% and 33%, respectively, while the OP Mainnet saw a larger decrease of 58% quarter-over-quarter.

V3永久合同的使用放緩，交易量減少了38％的四分之一。這在不同的連鎖店之間有所不同，基本和仲裁分別顯示出較小的26％和33％的降低，而OP Mainnet的下降量較大，較大的季度較小58％。

Out of the $740.5 billion in on-chain perpetual trading volume in Q4, Synthetix accounted for 0.9%.

在第四季度的7405億美元的永久交易量中，Synthetix佔0.9％。

The quarter's trading volume was dominated by SOL, BTC, and ETH perpetual contracts, with smaller contributions from other markets.

該季度的交易量由SOL，BTC和ETH永久合同主導，其他市場的貢獻較小。

Among the top three markets, SOL saw the largest increase in average daily trading volume, surging by 53% to reach $2.3 million, surpassing BTC to become the largest market on the platform. BTC ranked second with an average daily trading volume of $1.8 million, despite a 12% decrease quarter-over-quarter. On the other hand, ETH's trading share declined by 31% quarter-over-quarter to $0.8 million.

在排名前三的市場中，索爾的平均每日交易量最大，飆升53％，達到230萬美元，超過了BTC，成為該平台上最大的市場。儘管四分之一季度下降了12％，但BTC的平均每日交易量為180萬美元排名第二。另一方面，ETH的交易份額下降了31％的四分之一季度，至80萬美元。

Other perpetual markets also saw a 74% increase in trading volume, closing the quarter with an average daily volume of $680,000. These markets included assets like LINK, AAVE, and PEGASYS, which were launched according to the requirements of SIP-387 to support at least 24 new assets in Q4.

其他永久市場也增加了74％的交易量，該季度的平均每日量為680,000美元。這些市場包括Link，Aave和Pegasys等資產，這些資產是根據SIP-387的要求推出的，以支持第四季度至少24個新資產。

After a decline throughout 2024, Synthetix's overall activity metrics rebounded in Q4.

在整個2024年下降之後，Synthetix的總體活動指標反彈在第四季度。

The average daily number of trades for perpetual contracts increased by 25%, rising from 1,400 in Q3 to 1,700 in Q4. This quarter's growth was primarily driven by Synthetix V2, which saw a 59% increase in trade count quarter-over-quarter, while V3 experienced a smaller increase of 10%. However, year-over-year, the average daily trade count decreased by 33% compared to 2,500 in Q4 2023.

永久合同的平均每日交易數量增加了25％，從第三季度的1,400人增加到第4季度的1,700。本季度的增長主要是由Synthetix V2驅動的，該V2的貿易計數四分之一季度增長了59％，而V3的增長較小10％。但是，同比，每日平均貿易數量下降了33％，而第4季度2023年為2,500。

The average daily active users (DAU) increased by 14% in Q4, rising from 207 in Q3 to 236. However, this is a 47% decrease compared to 445 in Q4 2023. Both Synthetix V2 and V3 saw increases in average daily active users, with growth rates of 12% and 19%, respectively. This indicates that core users are taking a larger share of trading on Synthetix. It is important to note that Synthex V3 has not yet been deployed on the OP Mainnet and is currently only operating on

第四季度的平均每日活躍用戶（DAU）增長了14％，從第三季度的207增加到236。但是，這是47％的人，而第四季度2023中的445個。 Synthetix V2和V3的平均每日活躍用戶的平均增長率分別增加，增長率分別為12％和19％。這表明核心用戶對Synthetix進行了更大的交易份額。重要的是要注意，Synthex V3尚未部署在OP Mainnet上，目前僅在運行