DeFi Player Synthetix [SNX] Announces Transition to “Optimistic Ethereum” DeFi platform Synthetix [SNX] announced the first phase of its transition to the second layer scalability solution of Ethereum called Optimistic Ethereum. The official release defines Optimistic Ethereum as only a “generalized” layer two solutions for Ethereum since it doesn’t require any specific functionality to be built to support existing protocols of layer one. Synthetix First Phase Transition to Second Layer Ethereum Scalability Solution Synthetix has volunteered to leverage the Optimistic Ethereum testnet, incentivize testnet usage, and breakage with 200,000 SNX in rewards to the participating users. Further, it targets those SNX stakers with smaller balances, who may have been forced out of participating in staking in recent months due to astonishingly gas prices. The official blog post by Synthetix further stated, “This is a huge milestone for Synthetix, Optimistic Ethereum, and indeed the entire Ethereum space. Launching SNX staking on OE is a crucial step towards full scalability for the burgeoning DeFi ecosystem, truly allowing anyone around the world access to open financial infrastructure without the friction of high gas costs.”