On September 7th, Synthetix core contributor Matt Losquadro said that Synthetix's upcoming new application chain, SNAXchain, is designed to bring cross-chain liquidity and transaction fee revenue to native token pledgers and on-chain trading products. The application chain will initially serve as an on-chain governance platform for managing Synthetix deployments on the Ethereum mainnet and Layer2 extension chains, including Optimisim, Arbitrum, and Base. Currently, Synthetix is actively exploring future features of SNAXchain, including SNX staking, cross-chain liquidity, and support for customized perps products. More proposals for these features are expected to emerge in the fourth quarter.