Synthetix is one of those liquidity providers using the blockchain as their infrastructure. So it has gained the popularity over the years. And now they are launching the SnaxChain as a utility for the blockchain and governance. 

They have recently decided to launch a chain named Snaxchain which is meant to serve the governance and the onchain decisions.

Snaxchain is not like your typical blockchain that is designed for the transactions and the DAO. But it is a liquidity platform getting the governance based setups with the chain. You can read about here.

This chain has been deployed in the phase 1 using the Optimism’s superchain infrastrcuture. So it is going to have all the good features of the Optimism like low fees, security and rollups.

SnaxChain is now finally out and the deployment is there for the appchain of Synthetix.

SnaxChain made a good decision by going the route of the Optimism. They are also distributed on the arbitrum, and other L2 chains through bridge. And they would expand as need be for their governance.

But what is excited is that such governance chains and the utility on the chain kind of gives assurance that every step of the way these chains are now showing onchain. Which kind of brings transparency too.