The Liquidity Layer of DeFi. It has two primary functions: (a) Staking and (b) Governance. My view on the Optimistic Vision 150: I think funding public goods is a worthy goal but one that, in practice, needs to improve in efficiency and quality. Pool: sUSD Liquidity Guage SCURVE. ⭐ Spartan Council/CCs: Base Deployment & Testnet Buying and selling Competitors⭐ Grants Council: NFT Challenge & Watcher Web page⭐ Ambassador Council: Spartan Areas & Governance Proposals Synthetix Governance Model. 5 million Synthetix governance tokens (SNX) using popular DeFi money market protocol Aave, and pooled liquidity token exchange, Bancor. Here are some quick details about each council. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Firstly, there is the Aelin Direct Deals, a terrific choice for sponsors or protocols looking to raise. How to write SIP/SCCPs. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. For example, the Ambassador Council is responsible for promoting Synthetix’s interest in the Ethereum ecosystem. The following post contains a recap of news, projects, and important updates from the Spartan Council, Core Contributors, grantsDAO and ambassadorDAO from last week, as well a discussion regarding the ongoing meta-governance SIPs. Connect wallet. Councils are directly elected by SNX stakers, while other governance bodies are appointed according to the existing governance procedures. The full configuration of Base Goerli can be seen on. A return to the old school gold standard. - GitHub - psybull/snx-governance-discord-bot: A JavaScript-based, open source Discord bot to facilitat. Please list any anticipated conflicts of interest: NoneFurther, my experience over the last year and a half participating as a member of the Synthetix and Lyra grants councils has provided experience in governance and vetting public goods funding. Wallet. Docs. dollar) and crypto assets (like Bitcoin ). Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. This. Do you agree to abide by the delegate code of conduct:. As early adopters of delegate governance structure and early participants in Synthetix governance structure, we find us to be a good fit for this initiative. Learn more. Synthetix Governance. Governance. 19 to $1. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. 1 PAX token is equal to one ounce of fine troy gold. xyz Discord username: cf#7928 Verification: Tally I have read and understood the Delegate Commitment Process: Yes. 5% went to partners. g. The Liquidity Layer of DeFi. Docs. Voting is still in progress. Perps. These councils’ Decisions and proposals are subject to majority votes from SNX stakers, ensuring a democratic and community-driven approach to protocol development. They have different levels of responsibilities, and to different extents they can be seen as autonomous entities that rely and control each other. Synthetix Governance: A representative council system that governs Synthetix. I don’t have any direct experience but it looks intriguing. These include the Spartan Council, Protocol DAO, Synthetix DAO, Ambassadors DAO, and Grants DAO. This means that SNX will necessarily be worth 3-5 times the value of all necessary sAssets. Kain said that the control of Infinex would be relegated to a mode of decentralized governance. Show topics: what Optimism and Synthetix are how zero-knowledge rollups differ. $1. Perps. Governance. . The first to speak on this topic was @OPUser when @tongnk , of Perpetual Protocol, self-delegated the 9M OP tokens he had received in Phase 1. We’ve made progress, but. The election for Spartan Council members begins less than 24 hours from now! Over the last two weeks, nineteen members of the Synthetix community have nominated themselves to be on the Spartan Council, a new component of Synthetix governance, and seven will be voted on successfully for the first Council Epoch, the. Powering the next. The Liquidity Layer of DeFi. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. The Synthetix Network token (SNX) incentivizes coordination and growth within the Synthetix Network. Connect wallet. Quick Start. LiFi and Uniswap have collaborated to launch a multi-bridge governance solution, allowing users to vote on governance proposals through a cross-chain messaging system. Project Draco will be under development, with a plan to migrate all governance functions to the Synthetix Appchain in 2024. The new Synthetix Ambassadors governance portal is now live, brought to you by the Synthetix grantsDAO! The Synthetix Ambassadors program provides a simple way for SNX holders to delegate their governance voting rights in other protocols (e. The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Protocol Governance. Template Perps V3 Keeper. Introduction. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. The Protocol Delegation Program was approved in Special Voting Cycle #9b. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Figure 1: Showing Synthetix funding rate via KwentaFor Governance Participants. V3 Spot Market - The first expected market on V3 is spot markets. Also, in December 2019, Synthetix governance lowered the inflation percentage and added the same to perpetuity. All. Synthetix governance was faced with a very challenging decision. 131: Revoke the "ALL" approval, if set, when withdrawing other approvals. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Multi-collateral staking will increase sUSD liquidity and the markets supported by Synthetix. Staking App. Meta-Governance Processes; Defining the different types of governing bodies Overview. Aave, Compound, Uniswap, etc. The new module will reportedly make it easier for the network to make governance decisions with. Synthetix started out as a stablecoin, before pivoting to DeFi. Earlier this year, the decentralized exchange ( DEX ) Uniswap removed a number of tokens from its front-end site that could constitute securities, including tokenized stocks from Synthetix, citing the. SNX tokens are up more than 500% in price so far this year. Staking. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Powering the next. Also, in December 2019, Synthetix governance lowered the inflation percentage and added the same to. For Governance Participants. Base Andromeda. The platform was founded in 2017 by Kain Warwick and has experienced notable growth, establishing itself as one of the prominent platforms within the decentralized finance (DeFi) ecosystem. Synthetix DAO does not unilaterally offer, maintain, operate, administer, or control any trading interfaces. Synthetix has been an underperformer recently, but its poor performance is exaggerated as it had seen a meteoric rise from Q4 2020 to Q1 2021. The Synthetix governance elections are currently underway; The Aave community voted to add ENS as collateral, and to appoint Securitize as a whitelister to Aave Arc;The author then alerts the Spartan Council within the #governance channel on Discord to schedule a ‘SIP author interview’, which is conducted and recorded by the Spartan Council. Gating off incentives for just Synthetix, or using this governance power for only SNX Ecosystem projects or the like would’ve been an incredibly poor idea. eth Is your protocol OP Native?: No, We are mainly on Ethereum L1 and planning to integrate with Multi chain Was your protocol active in Optimism governance. Synthetix V3 features a generalized collateral vault system that is agnostic to collateral types. Anyone following Synthetix this year is aware of our transition towards decentralised protocol control. These markets were approved by governance in SIP 2031 and had initial configurable values set by SCCP-2044. ), synthetic commodities such as gold (sXAU), as well as more complex assets suchCurrent Protocol Parameters. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Label all the bodies in which token holders delegate to (via a direct vote) as a Council. Docs. “While we have been governed through rough consensus for some time. Synthetix Governance DAO. PAX gold comes to mind, given that it is a cryptocurrency backed by gold. io. Understanding the Governance process Since the Synthetix Foundation transitioned control to the community in July 2020 , changes to the protocol have been proposed and voted on by community members along with the. 25, Kain Warwick, the founder of Synthetix, published a proposal advocating for capping the SNX supply at 300M tokens in two and a half months. Elections and Voting. David_Heisenberg May 18, 2023, 1:17am 189. Powering the next. You can participate in the governance process by staking SNX tokens in accordance with the rules and parameters summarized here, and/or joining the Synthetix Discord and contributing to the conversation. V3Yuga Labs of Bored Apes fame drifts away from OpenSea over royalty policyNext - For Derivatives Market Builders. Voting is still in progress. Established via SIP-93, the SC is responsible for conducting SIP/SCCP interviews, debating the implications of proposed changes, coordinating protocol changes with the protocol. This SIP proposes the base architecture for the Synthetix v3 system, as well as all v3 related systems, such as governance instances (spartan-council, etc). Staking FAQIntroduction Decentralized governance has been a long-discussed topic – it aims at helping to prevent corruption, empowering a community to have | Bitget crypto news!Further, my experience over the last year and a half participating as a member of the Synthetix and Lyra grants councils has provided experience in governance and vetting public goods funding. Synthetix lists Tether USDT Perps. Governance bodies: Synthetix heavily relies on different DAOs to ensure governance runs smoothly. Governance. Please list any anticipated conflicts of interest: NoneThe Protocol Delegation Program was approved in Special Voting Cycle #9b. com Synthetix Weekly - September 22nd 2021Governance Framework. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. The Synthetix Ambassadors Council have announced plans to self-delegate 2M OP tokens from their Optimism Governance Fund grant. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. For Governance Participants. Other. Recently the Synthetix community approved governance change, transitioning SCCP votes from Discord to Snapshot (an off-chain signalling mechanism used by a number of DeFi protocols). SNX’s initial supply of 100,000,000 tokens was released in 2018. FOR PERP INTEGRATORS. Synthetix is excited to announce the addition of stETH/ETH perpetual futures markets, now available for leverage trading via Synthetix Perps. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. Synthetix Governance. Request some of the existing $500m+ Synthetix collateral for your market. If you haven't already, join the Kwenta community on Discord. Governance. The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world assets. Stats. great. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. Synthetic assets, and associated products, are collateralized by stakers via Synthetix Network Token (SNX), which when locked in a staking contract enables the issuance of synthetic. Protocol name: QiDao Protocol Name of protocol representative(s) that will serve as delegate(s): Benjamin. The Synthetix Ambassadors will soon receive a delegation of 2m OP tokens (Optimism governance power) from the SNX Treasury Council. SYNTHETIX GOVERNANCE. The Blockchain-ification of Finance. Stats. Stats. The decision to leverage Synthetix governance relied on the past success of Thales and Kwenta in establishing independent communities. As Synthetix is developing into a transparent and inter-operable on chain liquidity layer, its governance must also ossify to be aligned with the resiliency of the protocol. Synthetix is a platform that widens the horizon of existing trading capabilities. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. 👉Q3 Highlights ⭐ Spartan Council/CCs: Base Deployment & Testnet Trading Competition ⭐ Grants Council: NFT Project & Watcher Page ⭐ Ambassador Council: Spartan Spaces & Governance Proposals As we wrap up the third quarter of 2023, it’s time to review the major events of SYNTHETIX GOVERNANCE. It is expected that the ambassadorsDAO will follow suit in the near future. SYNTHETIX FORUM View the voting history of all governance proposals. Staking App. 00. Governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. It'll help to usher in a period of mass innovation throughout the world of onchain derivatives and financial instruments. Name: Wintermute Address of ENS: wintermutegovernance. The Treasury Council manages the Synthetix Treasury and provides funding to the other governance bodies, CC stipend payments, and other discretionary incentives. Start trading in minutes. ⭐ Spartan Council/CCs: Base Deployment & Testnet Buying and selling Competitors⭐ Grants Council: NFT Undertaking & Watcher Web page⭐ Ambassador Council: Spartan Areas & Governance Proposals SYNTHETIX GOVERNANCE. Perps. 71% in the last 24 hours. Synthetix governance decides this collateralization requirement, but it generally stays between 300% and 500%. Sandbox with Perps. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. SYNTHETIX GOVERNANCE. Perps. $3. lens Is your protocol OP Native?: No, QiDao is a multi-chain protocol Was your protocol active in Optimism governance prior to 12/5/22?: Yes If so, please link to. These were swapped for 6. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. Furthermore, these tokens were directed to be held by the. Hello fellow Apes, I’ve started this topic with advice from @Marklar to help get the conversation going around what people would like to see in the upcoming Board Nominations and Elections process. 55 each. The protocol and ecosystem is more broadly. io by adding links to it from different landing pages (such as governance, staking, tools, etc). 846K AAVE For, 256K AAVE Against. revmiller December 30, 2022, 10:20pm 4. Docs. Ambassador Council. Lastly, Synthetix and Synthetix Ambassadors do not have a history of selling any Optimism tokens, nor using them for unintended uses, or anything along those lines. Kwenta is a trading interface for perpetuals and options that integrates with Synthetix and Lyra Protocol. Governance. Governance. Each governance component is assigned a specific aspect of protocol governance. The Lyra Protocol integrates with GMX on Arbitrum to delta hedge its vaults with GMX perps. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. The benefits of direct integrations for Synthetix are three-fold. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. Stats. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix is very unique and the closest thing that we currently have to it are asset-backed tokens. Quick Start. Treasury Council (4 members) - The Treasury Council (TC) manages the synthetix treasury and provides funding to the other governance bodies, cc stipend payments, and other discretionary incentives. Engineers are now working on reflecting this in the backend/frontend for the Synthetix Governance Module. The. The Liquidity Layer of DeFi. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Docs. Uniswap Governance Swap UNI for ETH and wBTC and provide liquidity. 28m: Optimism: $242. Blog. 00%. It serves as a reminder that sometimes you might reduce complexity by just using a multisig instead of a full-fledged Governor-like contract. Governance. SYNTHETIX GOVERNANCE. Initially, Aelin v1 will be governed by the Aelin Council, a DAO which will be voted on by SNX. Synthetix is the backbone for derivatives trading in DeFi, allowing anyone, anywhere to gain on-chain exposure to a vast range of assets. Synthetix is a protocol for the issuance of synthetic assets that tracks and provides. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. synthetix. Despite Rocket Pool’s recent success, the overall statistics have not been looking great recently. Staking App. While this proposal passed unanimously, concerns were raised subsequently that the Snapshot vote weights deviated too far from the status quo. We know the DAO decided to implement the Pyth Oracle. Technical Specification. Blog. 42 since April 01, 2022, and the current price stands at $2. Staking Guide. Quick Start. Stats. Revenue Share. Governance. Governing Bodies The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. These are generated whenever someone makes an exchange within the Synthetix system. This fee is set by governance, and will be displayed by the SNX integrator before the trade. With mature on-chain representative governance in place, we're empowering an entire ecosystem that operates with resilience and censorship resistance. GitHub. This new architecture minimizes complexity during releases, provides a novel way of overcoming the EVM's smart contract size limits, and makes system upgrades very explicit to the. Synthetix Governance Find links to each core component of the Synthetix Governance System. Synthetix. SNX Balance 0. csv. Synthetix stakers do not have to participate in governance farming, although ecosystem rooms may be deployed to boost voting power. The SNX price decreased-3. [1] Connect wallet. Protocol name: ENS Name of protocol representative(s) that will serve as delegate(s): Makoto Inoue Link to delegate commitment 16: Delegate Commitments - #175 by matoken. These markets were approved by governance in SIP 2032 and had initial configurable values set by. Maybe we can put UNI in a Maker vault, and then lend the Dai on Compound. 👉Q3 Highlights. Each governance component is assigned a specific aspect of protocol governance. All supported markets benefit from deep liquidity and low fees, thanks to the use of fully decentralized off-chain oracles and Synthetix liquidity. Synthetix Governance: A representative council system that governs Synthetix. SNX, its native token, is currently trading at a 94. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Quarterly Report for Synthetix, Quarter 2 of 2022: April — June. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. There will now be 5 Ambassadors that win seats, which will be reflected in the election that is currently ongoing. Each of the councils at Synthetix serves a different and vital role in running the Synthetix protocol. It’s all happening right now for the Spartan Council! Fresh off last week’s first Council-led community governance call, the next Spartan Council election has begun for the next epoch. Introduction. The minted sUSD can be used within the Synthetix ecosystem or traded on other platforms. SYNTHETIX GOVERNANCE. I don’t have any direct experience but it looks intriguing. This separation in multiple bodies should help encapsulate concerns and limit powers of the. Further, my experience over the last year and a half participating as a member of the Synthetix and Lyra grants councils has provided experience in governance and vetting public goods funding. to a Spartan Council member on discord by searching members with the "Spartan Council" role or finding them within the #governance channel. I also believe, once a proposal is approved, we should be little flexible and give the recipient some freedom to change the distribution plan if its seem fit. Stats. 0. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Elections and Voting. Protocol Governance. Aug 14, 2023 4 min read. On the regulatory front, all eyes are on Coinbase / Binance crossing swords with the SEC - we’ve added a special section that chronologically documents the events. The Liquidity Layer of DeFi. Many high-profileTwo SIPs are currently up for voting, proposing the addition of 8 new markets to Synthetix Perps:SIP 2014 - PEPE, SUI, and BLURSIP 2015 - XRP, DOT, TRX, FLOKI, and INJIf approved, governance must then agree on parameters (fees, open interest, etc. This doc includes minting probability estimates for different attributes. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. Passed: Yes. View the history of past council elections and vote in any currently open elections. Build on v3. 7 Likes. Sep 1, 2020 • 2 min read. Elections and Voting. 87M, market cap of $ 395. Docs. . Synthetix Carina will also be running on Ethereum, a latency-optimized version of perps using ETH (and LSDs) as collateral. Blog. Name. This post is going to take a different approach. Unique to Andromeda Base is the use of a USDC wrapper, enabling USDC to appear to be used as collateral for LPs, and as margin as perp traders. Spartan Council. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. Staking Guide. Governing Bodies The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Project Draco will be under development, with a plan to migrate all governance functions to the Synthetix Appchain in 2024. Staking App. Powering the next. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Docs. VIEW ALL COUNCIL MEMBERS. Protocol Information. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. You can trade Synths — which. With aligned interest in the success of the Optimism network itself, the symbiosis is strong and our experience can be put to good use in stewarding towards the optimal governance structure and the growth of the network. What is the Grants Council? The Grants Council is responsible for public goods funding through grants, initiative bounties, or competition prizes. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Governance. Garth Travers. Protocol Delegation Self-Nominations. Powering the next. FOR PERP INTEGRATORS. Stats. Last week the first Treasury Council was elected alongside the other DAO’s within the Synthetix governance system. Synths track the price of an underlying asset without users actually having to own the asset itself. The Synthetix governance framework also saw continued evolution last month. The epoch will last four months, starting August 30th. part of the greater Distributed Decentralised Autonomous Organisations responsible for the well being, growth and adoption of the Synthetix protocol. Perps V3 Keeper. You can participate in the governance process by staking SNX tokens in accordance with the rules and parameters summarized here, and/or joining the Synthetix Discord and contributing to the conversation. More questions have been raised over timelocks and the tradeoff that comes with them and fully permissionless systems, with Kain Warwick, founder of Synthetix (SNX) and Aelin Protocol, arguing that “one of the planned features for the new synthetix governance module is the ability for token holders to override these time locks with. Please list any anticipated conflicts of interest: NoneCrypto News Cast For June 29th 2022 ? Crypto News Cast 📮 29-06-2022 News Source Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter. Powering the next. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. Ambassador Council. One of the world’s leading Web3 accelerators with the strongest network in Asia, LongHashX partners with ecosystems like Filecoin, Polkadot, Axelar, and Algorand to empower founders to build top-class Web3 native projects. SCCPs describe changes to configurable values of existing smart contracts, whereas SIPs describe changes like deploying new smart contracts or meta-governance processes like changes to the governance process. Blog. Blog. sUSD borrowing via SNX would also be enabled as part of Project Draco. My view on the Optimistic Vision 150: I think funding public goods is a worthy goal but one that, in practice, needs to improve in efficiency and quality. Governance-approved SCCPs can make these markets available for trading on frontends @Kwenta_io & @DecentrexHQ in the coming days. Why do you believe your protocol would be a good steward of the. Here is what the supply of active SNX rewards to SNX stakers looks like currently: SNX supply curve: Messari. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. There have been some welcome changes and. Synthetix governance had been decentralised with the control being handed over to a decentralised Spartan Council, with the founder Kain Warwick taking a back seat. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. David_Heisenberg May 18, 2023, 1:17am 189. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards. Stats. The new version will have a modular mechanism supporting multi-collateral staking, customizable debt positions, and permissionless synths. For instance, the core protocol design, setting of the reward mechanisms, and the system development were managed by the Synthetix Foundation, excluding them from governance voting. Perps V3. nominations. This guide has been updated as of 7/28/22. . Synthetix was originally overseen by a non-profit foundation in Australia. Perps. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. Synths are nothing but on-chain synthetic assets that one can trade on a DeFi platform but whose value tracks the value. Coin Prices. Elections. The Synthetix discord is the place to engage in protocol governance and robust community discussion about the direction of the project. The following post contains a recap of news, projects, and important updates from the Spartan Council and core contributors this week, as well as some performance highlights of those involved in governance. This just granted a few special permissions to the LegacyMarket contract, which is the facilitator of the migration to Synthetix V3. However, since then, the TVL has risen to $800 million at the time of writing, and the price of. The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. [1] Synthetic. Synthetix Governance - Election Module . The liquidated collateral is seized from all of the liquidity positions in the vault pro-rata. These councils’ Decisions. Governance.