According to Synthetix, it is shifting the operational focus of its perpetual contract marketplace to the Base network, and the perpetual contract marketplace on its Arbitrum will be closed. It is currently set to position squaring-only mode, and users cannot open new positions or increase existing positions. The USDx on Arbitrum needed to be exited along with the Arbitrum perpetual contract product. Synthetix Treasury purchased USDx from the open market and funded a wrapper to support the conversion of USDx to USDe.