SIP-338: Deploy SNX token on Base via Base Bridge

Author	Matt
Status	Implemented
Type	Governance
Network	Base
Implementor	TBD
Release	TBD
Proposal	Loading status...

Simple Summary

Deploy the SNX token on Base via Base Bridge, enabling compatibility and facilitating the bridging of the SNX token between Ethereum Mainnet and Base.

Abstract

Enable bridging functionality of SNX tokens via the Base Bridge

Motivation

Synthetix V3 is set to launch on Base, necessitating SNX tokens on Base. If governance is to approve the usage of SNX collateral in the V3 system on Base, this SIP will enable bridging support.

Additionally, the Synthetix Treasury Council's Aerodrome can bolster SNX liquidity on Base at no additional cost to the protocol.

Specification

Overview

Synthetix will deploy SNX on Base mainnet using Base's recommended bridging framework & OptimismMintableERC20Factory standards (see here - https://docs.base.org/tokens/list/)

Rationale

Refer to the motivation section.

Technical Specification

Deploy SNX token on Base: Using the OptimismMintableERC20Factory, a wrapped version of SNX will be deployed on Base. Refer to https://docs.base.org/tokens/list/
Submit details for SNX token: After deploying the token on Base, the details of the token will be submitted to the Base Token List.
Approval and Verification: Upon PR submission, the Synthetix will wait for approval from the Base team. Once the SNX token wrapper contracts are verified and approved, it will be ready for use.