synthetix Q4 2024》状态》

本文是根据Messari出版的原始材料对Synthetix在2024年第四季度的表现的汇编和分析

Compiled by: Scof, ChainCatcher

编译者：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》

原始标题：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.

本文是根据Messari出版的原始材料对Synthetix在2024年第四季度的表现的汇编和分析。它涵盖了治理结构，产品布局，交易活动，市场数据和财务状况的重大发展。本文旨在为读者提供简洁的，数据驱动的参考，以帮助了解Synthetix在当前市场环境中的绩效和趋势。

Key Metrics

关键指标

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

|公制| Q4 2024 | Q3 2024 |更改|同比变化|

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

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

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

|平均每日永久合同交易量| $ 7170万美元| 5580万美元| 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% |

|平均每日活跃用户（DAU）| 236 | 207 | 14％| -47％|

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

|总价值锁定（TVL）| $ 3.789亿美元| $ 3.754亿美元| 1％| 31％|

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

|平均开放兴趣| 1.954亿美元| 1.348亿美元| 62％| 45％|

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

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

Protocol Analysis

协议分析

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为7170万美元，比第三季度增长29％，但同比减少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永久合同的使用放缓，交易量减少了38％的四分之一。这在不同的连锁店之间有所不同，基本和仲裁分别显示出较小的26％和33％的降低，而OP Mainnet的下降量较大，较大的季度较小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7405亿美元的永久交易量中，Synthetix占0.9％。

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

该季度的交易量由SOL，BTC和ETH永久合同主导，其他市场的贡献较小。

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.

在排名前三的市场中，索尔的平均每日交易量最大，飙升53％，达到230万美元，超过了BTC，成为该平台上最大的市场。尽管四分之一季度下降了12％，但BTC的平均每日交易量为180万美元排名第二。另一方面，ETH的交易份额下降了31％的四分之一季度，至80万美元。

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.

其他永久市场也增加了74％的交易量，该季度的平均每日量为680,000美元。这些市场包括Link，Aave和Pegasys等资产，这些资产是根据SIP-387的要求推出的，以支持第四季度至少24个新资产。

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

在整个2024年下降之后，Synthetix的总体活动指标反弹在第四季度。

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数量增加了25％，从第三季度的1,400人增加到第4季度的1,700。本季度的增长主要是由Synthetix V2驱动的，该V2的贸易计数四分之一季度增长了59％，而V3的增长较小10％。但是，同比，每日平均贸易数量下降了33％，而第4季度2023年为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跃用户（DAU）增长了14％，从第三季度的207增加到236。但是，这是47％的人，而第四季度2023中的445个。Synthetix V2和V3的平均每日活跃用户的平均增长率分别增加，增长率分别为12％和19％。这表明核心用户对Synthetix进行了更大的交易份额。重要的是要注意，Synthex V3尚未部署在OP Mainnet上，目前仅在运行