Solution for layer-2 (L2)ETHThe ) network has grown in popularity over the past year due to the necessity for scalable networks offering low-fee transactions. This led to many projects that created cross-chain bridges between competing blockchain networks.

Synthetix, one of many projects that have benefited from the development L2 scaling solutions has been SynthetixSNXDecentralized Finance (DeFi), which enables synthetic asset creation, and allows futures and derivatives trading on blockchain.