#46 - Synthetix: Ethereum's First Perp DEX (Coming Soon) - Ben Celermajer

#46 - Synthetix: Ethereum's First Perp DEX (Coming Soon) - Ben Celermajer

From The NGMI Podcast by Tom Mitchelhill

October 14, 2025 · 49 min · Episode 46

About this episode

Ben Celermajer discusses Synthetix's upcoming perp DEX launch on Ethereum Mainnet and shares insights on the DeFi landscape.

Ben Celermajer is the Strategy Seat at Synthetix (SNX), an OG DeFi protocol that is gearing up to release the first-ever perp DEX on Ethereum Mainnet alongside a $1,000,000 top prize trading competition... In this episode, Ben walks me through Synthetix's decision to abandon its L2 roadmap and launch a perp DEX on Ethereum Mainnet despite all of the challenges and runs me through the many lessons learned by the Synthetix team from building on the OP tech stack and other L2 ecosystems. Ben and I also discussed the details of the Synthetix Mainnet trading competition, which will feature a $1.5 million prize pool, the move to launch the Synthetix 420 Pool, controversy around the sUSD depeg, the correlation between SNX & ETH, and much more. Ben also shared some major insights on the SNX token heading into the remainder of this year and into 2026, as well as telling the story of how he first became involved in crypto.

People in this episode

Host: Tom Mitchelhill

Guest: Ben Celermajer

Topics covered

  • DeFi
  • perp DEX
  • Ethereum Mainnet
  • trading competition
  • Synthetix
  • crypto insights

Keywords

  • Synthetix
  • Ethereum
  • perp DEX
  • trading competition
  • SNX
  • crypto
  • DeFi
  • sUSD
  • L2 roadmap

Mentioned in this episode

Organizations: Synthetix, Ethereum, OP

Products: sUSD, SNX

More episodes of The NGMI Podcast

Explore listener stats, chart rankings, contacts and more on the The NGMI Podcast podcast page.