Synthetix, the veteran DeFi protocol, is looking to acquire Kwenta, a derivatives exchange that spun out of Synthetix in 2020.
On Oct. 29, a proposal outlining plans for Synthetix to acquire Kwenta, the top project within Synthetix’s ecosystem by trade volume, was published to the governance forums of both Synthetix and Kwenta.
Should both projects pass the proposals, Kwenta would be rebranded as a new incarnation of Synthetix Exchange, Kwenta’s treasury would be absorbed into the Synthetix treasury, and the Kwenta subdao would dissolve with governance over the front-end handed over to Synthetix’s Spartan Council.
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#undefined [Source: TheDefiant]