Synthetix (SNX) is set to launch its decentralized perpetual futures exchange on the Ethereum mainnet in the fourth quarter of this year. This new platform will enable traders to speculate on asset prices without expiration dates, utilizing blockchain technology for enhanced transparency and accessibility. To encourage adoption, Synthetix is organizing a $1 million trading competition. This initiative aims to expand the utility of the SNX token, attract new users, and bolster Synthetix's position in the DeFi derivatives market.