Deploy the SNX token on Base via Base Bridge, enabling compatibility and facilitating the bridging of the SNX token between Ethereum Mainnet and Base.
Enable bridging functionality of SNX tokens via the Base Bridge
Synthetix V3 is set to launch on Base, necessitating SNX tokens on Base. If governance is to approve the usage of SNX collateral in the V3 system on Base, this SIP will enable bridging support.
Additionally, the Synthetix Treasury Council's Aerodrome can bolster SNX liquidity on Base at no additional cost to the protocol.
Synthetix will deploy SNX on Base mainnet using Base's recommended bridging framework & OptimismMintableERC20Factory standards (see here - https://docs.base.org/tokens/list/)
Refer to the motivation section.
Deploy SNX token on Base: Using the OptimismMintableERC20Factory, a wrapped version of SNX will be deployed on Base. Refer to https://docs.base.org/tokens/list/
Submit details for SNX token: After deploying the token on Base, the details of the token will be submitted to the Base Token List.
Approval and Verification: Upon PR submission, the Synthetix will wait for approval from the Base team. Once the SNX token wrapper contracts are verified and approved, it will be ready for use.
Copyright and related rights waived via CC0.