GMX (GMX) And Synthetix (SNX): With GMX V2 Expanding To More Chains And SNX Perps V3 Rolling Out On L2s, Do GMX And SNX Form A Synthetic Liquidity Network Or Stay Competing Derivatives Silos?

The battle for decentralized perpetual futures dominance has entered a critical expansion phase. GMX (GMX) is aggressively scaling its V2 architecture—featuring isolated GM pools and Chainlink Data Streams—across networks like Arbitrum, Avalanche, MegaETH, and Botanix. Concurrently, Synthetix (SNX) is advancing its highly anticipated Perps V3, introducing modular multi-collateral margin and expanding its derivatives liquidity layer across Ethereum mainnet and various Layer-2 (L2) rollups.