SYK Expands to Base

SYK Expands to Base

SYK Expands to Base

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Our token, SYK, is expanding to Base. This milestone not only opens up new opportunities for traders and liquidity providers but also supports our vision of building a cross chain options product that is more accessible and efficient.

Why Base?

Base is one of the most active onchain ecosystems, making it the ideal environment for SYK’s expansion.

  • Wider Adoption: With 646K+ daily active addresses, a $2.89B TVL, and $14.47B bridged, Base provides a strong liquidity foundation for SYK.
  • High Market Activity: The network sees $1.2B+ in daily volume, with $633M in perps trading, ensuring deep liquidity and growing market participation.
  • Composability and Growth: As one of the fastest-growing L2s, Base attracts top DeFi projects, strengthening cross chain integrations and expanding liquidity access.

With a rapidly growing user base, strong liquidity depth, and seamless cross chain infrastructure, Base aligns perfectly with Stryke’s vision for a more efficient onchain options market.

Bridging SYK from Arbitrum to Base

The SYK bridge between Arbitrum and Base is now live, making it easy to transfer SYK securely across chains. Here’s a step-by-step guide to bridge SYK.

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Stryke Bridging Interface

  1. Open the SYK bridge link and connect your wallet.
  2. Select the source and destination chain (Arbitrum ↔ Base).
  3. Enter the amount of SYK you want to send and review the bridging fee.
  4. Click ‘Bridge’ and approve the transaction in your wallet.
  5. Wait for confirmation—your SYK will arrive on the selected chain shortly.

This bridge is powered by LayerZero, ensuring secure and efficient transfers. For more details on LayerZero V2's technology, check out their documentation.

Liquidity Hub on Aerodrome

The SYK liquidity pool is live on Aerodrome, providing deep liquidity and optimized trading conditions, so you can start trading now.

Here’s what this means for traders and LPs:

  • Lower Slippage: Optimized trade execution for a smoother experience.
  • Higher Rewards: Stronger incentives for LPs, maximizing potential returns.
  • Centralized Liquidity: Improved capital efficiency through a focused liquidity hub.

Start trading SYK on Aerodrome here.

Reward Gauges and xSYK

While SYK’s utility expands to Base, xSYK gauge voting and reward distributions will initially remain on Arbitrum. Here’s what you need to know:

  • xSYK is the governance token derived from SYK, empowering holders to vote on reward allocations across liquidity pools via reward gauges.
  • This system ensures that liquidity incentives are directed to the most impactful pools, benefiting both liquidity providers and traders.
  • We are actively working to extend xSYK functionality and gauge voting to Base, with more details and timelines to be shared in a future update.

For additional details, you can learn more about xSYK and visit our docs.

Upcoming: cBBTC and WETH on Base Markets via Aerodrome

As part of our ongoing expansion, cBBTC and wETH will be introduced on Base markets via Aerodrome in a future update. This will help:

  • Expand asset availability on Base, increasing market depth.
  • Enhance trading opportunities for LPs and traders.
  • Maintain capital efficiency with lower slippage and centralized liquidity.

We’re committed to rolling out these markets as part of our future releases and will share more details soon.

What’s Next?

SYK is now live on Base, and there’s more to come. Here’s what’s next:

  • New liquidity pools and market launches, including cBBTC and wETH.
  • The rollout of extended xSYK functionality on Base.

If you already hold SYK, you can migrate here. You can also start trading SYK on Aerodrome right now.

Stay tuned for more updates, and keep an eye on our official channels!

About Dopex

Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers — all in a passive manner. Dopex uses option pools to allow anyone to earn a yield passively. Offering value to both option sellers and buyers by ensuring fair and optimized option prices across all strike prices and expiries. This is thanks to our own innovative and state-of-the-art option pricing model that replicates volatility smiles.

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