Synthetix is excited to announce the addition of ZRX & UMA perpetual futures markets, now available for leverage trading via Synthetix Perps. So you know, the CEO and those people on down are. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. 42 since April 01, 2022, and the current price stands at $2. Integrators are rewarded for driving volume through Synthetix Perps. Synthetix Governance DAO. Grants Council. Treasury Council. FOR PERP INTEGRATORS - Previous. Last modified 2mo ago 2mo agoThe team is also working on bringing more visibility to pr. Wide Variety of Assets Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. sUSD borrowing via SNX would also be enabled as part of Project Draco. Staking App. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. 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. The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. Staking App. Governance. This fee is set by governance, and will be displayed by the SNX integrator before the trade. Market Development Guide. Project Draco will be under development, with a plan to migrate all governance functions to the Synthetix Appchain in 2024. This is a necessary step in deprecating Perps V1 and moving these last few traders toSynthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. This SIP proposes to establish a clear inclusion criteria for a Core Contributor to be added as a signer to the protocolDAO. Elections. Address or. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. All of the councils are elected by Synthetix Stakers. Aave, Compound, Uniswap, etc. Optimism migration. “The changes above mark a phase shift in Synthetix governance,” the post said. 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. ⭐ Spartan Council/CCs: Upgraded Liquidation Mechanism & Atomic Swap Integrations. Synthetix Governance. ) to a committee of ambassadors focused on furthering. The Liquidity Layer of DeFi. SIP-306: V3 Migration SIP-323: Adopt "s" prefix for Synthetix V3 asset tickers. There will now be 5 Ambassadors that win seats, which will be reflected in the election that is currently ongoing. Powering the next. Docs. Initially, Aelin v1 will be governed by the Aelin Council, a DAO which will be voted on by SNX. 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. How to write SIP/SCCPs. 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. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Learn more. Synthetix is a blockchain protocol built on the Ethereum mainnet, which provides a platform for crypto enthusiasts to access several crypto and non-crypto assets, such as indices, and commodities, among others. Staking App. Garth Travers. The Liquidity Layer of DeFi. The presentation of SIP-179 is also discussed, as well as upcoming election coverage from SNXweave. October 19, 2021. Market Development Guide. To perform a vault liquidation, anyone can call the liquidateVault function. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Docs. V3Yuga Labs of Bored Apes fame drifts away from OpenSea over royalty policyNext - For Derivatives Market Builders. System Staking 69. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. 19 to $1. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Synthetix V3 features a generalized collateral vault system that is agnostic to collateral types. Last week the first Treasury Council was elected alongside the other DAO’s within the Synthetix governance system. Firstly, there is the Aelin Direct Deals, a terrific choice for sponsors or protocols looking to raise. These markets were approved by governance in SIP 2032 and had initial configurable values set by. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. Please list any anticipated conflicts of interest: NonePerpetuals exchange protocol Synthetix added support for Lido's stETH (read more here) Synthetix governance has given the green light to add stETH to Synthetix perpetuals, making it the only protocol supporting decentralised and trustless stETH perpetuals. Synthetix. In 2019, an additional $3. 5 Likes. Powering the next. staking assets supported. Protocol Governance. Sandbox with Perps. In 2019, an additional $3. Powering the next. Here are some quick details about each council. Governance. Propose to Synthetix governance for your Market to be enabled. For Developers. The epoch will. Label all the bodies in which the internal stakeholders nominate as a Committee. Blog. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Protocol name: Lyra Name of protocol representative(s) that will serve as delegate(s): Ksett Link to [delegate commitment 11]: (if your protocol doesn’t currently have one, you will need to create one) Delegate Commitments - #174 by ksett Is your protocol OP Native?: Yes Was your protocol active in Optimism governance prior to 12/5/22?: Yes,. SNX tokens are up more than 500% in price so far this year. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. The Liquidity Layer of DeFi. On Aug. Aelin is a new protocol and will have its own token, community, and governance system. By allowing token holders to participate in decision-making, Synthetix ensures a decentralized approach to managing its innovative financial ecosystem. Users pool funds into. Synthetix is a platform that widens the horizon of existing trading capabilities. Protocol Governance. One of an emerging number of decentralized finance ( DeFi) cryptocurrencies, Synthetix enables this service through code alone, without the need for a financial intermediary. In other words, all members have to do is vote representatives that would make decisions on their behalf. These upgrades have started to lay the groundwork for stakers to migrate their collateral and debt from V2X to V3. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Blog. 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. The Liquidity Layer of DeFi. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against collateral on-chain. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Synthetix is run as a DAO (see page 34), and Kain remains the largest holder of Synthetix governance tokens, which currently fetch about $10. It is expected that the ambassadorsDAO will follow suit in the near future. Perps V3. Synthetix Governance Find links to each core component of the Synthetix Governance System. 52. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. To download the Addresses + ABIs for Synthetix via the command line, you can run the following command: npx @usecannon/cli inspect synthetix-omnibus -. Docs. 5% went to partners. 00%. As a VP of growth I would think it would be in your job description to actually use other products and garner the feedback yourself. Synthetix is an Ethereum-based protocol for issuing synthetic assets. But even when inflation was. 💡Staking variables change regularly based on governance action. The Liquidity Layer of DeFi. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Label all the bodies in which token holders delegate to (via a direct vote) as a Council. Elections and Voting. Figure 1: Showing Synthetix funding rate via KwentaFor Governance Participants. Technical Architecture. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Powering the next. I understand that becoming a delegate is a significant commitment: Yes. Transferring SNX costs more gas than that, but can also vary as it needs to call `debtBalanceOfAndTotalDebt,` and if that wallet has any debt in the Synthetix system. The Liquidity Layer of DeFi. Synthetix DAO. Please list any anticipated conflicts of interest: NoneThe Protocol Delegation Program was approved in Special Voting Cycle #9b. Perps V3. I’ve included a very basic AIP Draft with some generic outlines and instructions for the ApeCoin Foundation Administrators to create a. 7 Likes. Synthetix is a software that allows users to mint new crypto assets that mimic both real-world assets (like the U. 87M, market cap of $ 395. This guide has been updated as of 7/28/22. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. All. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. . The. Developer FAQ. 00. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Stats. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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 assets. It is worth discussing governance for a second, I’m planning a much more comprehensive post on what passes for “governance” across much of crypto these days, but that post is still in draft. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. MattL October 17, 2022, 7:38pm #1. Here are some quick details about each 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. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Blog. The goal is to get the protocol to a point where it is resistant to capture, whether from a. The Liquidity Layer of DeFi. The key decentralized. Blog. Synthetix is excited to announce the addition of ZRX & UMA perpetual futures markets, now available for leverage trading via Synthetix Perps. Stats. Sandbox with Perps. Abstract. 7: Fully Diluted Valuation. For one, Synthetix incorporates six different DAOs designed to play specified governance roles within the Synthethix ecosystem. Staking App. The Liquidity Layer of DeFi. It further suggests deploying Andromeda to Optimism and Arbitrum, and deploying Carina (ETH-only backed Perps) to Ethereum. Synthetix Stakers are assigned a. They allow users. 12% went to the Synthetix Foundation (later transitioned into DAOs). The Synthetix Protocol is governed by several key bodies and artifacts. Synths are nothing but on-chain synthetic assets that one can trade on a DeFi platform but whose value tracks the value. 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. Uniswap announces vision for v4 (read more here)The Synthetix Improvement Proposal repository. This means that SNX will necessarily be worth 3-5 times the value of all necessary sAssets. Synthetix Governance Find links to each core component of the Synthetix Governance System. 15 protocols qualify to participate based on total gas fees generated on Optimism in Season 2. They will. Docs. 55 each. The Liquidity Layer of DeFi. SIP-141 formalizes the responsibilities and role of the grantsDAO, and also lays out plans to expand the scope of. Start trading in minutes. 3% went to bounties and marketing incentives. 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. This system sets a limit on the total amount of Synths that can be generated, ensuring that the platform remains stable and solvent. It'll help to usher in a period of mass innovation throughout the world of onchain derivatives and financial instruments. Each governance component is assigned a specific aspect of. 👉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. This section of the SIP proposes to: Label the collective governing collectively bodies as the Synthetix DAO. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. Perps. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. 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. 71% in the last 24 hours. Synths are nothing but on-chain synthetic assets that one can trade on a DeFi platform but whose value tracks the value. The Liquidity Layer of DeFi. Protocol Governance. Name of protocol representative (s) that will serve as delegate (s): Rev Miller, CJ Hetherington. egk10 January 20, 2021, 2:32pm 8. For some reason, the community keeps coming up with major. The eleventh Synthetix community governance call is scheduled for July 27/28 (timezone dependant), and as usual there's a great deal to talk about! Here are the times: * San Francisco: Monday July 27, 6pm * New York: Monday July 27, 9pm * Central Europe: Tuesday July 28, 3am (not 2am as originallyThis will allow approved integrators to pass on lower fees and other vital benefits to their users, after being approved by Synthetix governance. Foundations are also typically responsible for the governance of the platform they represent, voting on decisions about how the platform should operate or changes that need to be implemented. The GC’s Governance Guide has also been posted to their Medium page, so be sure to check it out for a lot of great information about Synthetix Governance, including proposals, Council mandates, and more. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). Back in June, the DeFi protocol received 9M OP tokens during Phase 0 of Optimism’s Governance Fund. With mature on-chain representative governance in place, we're empowering an entire ecosystem that operates with resilience and censorship resistance. 0). So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. SNX is a decentralized finance (DeFi) software protocol powered by a bag of intelligent contracts on the Ethereum blockchain. 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. The Synthetix Revolution SNX Deep DiveGovernance. Perps. 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 Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. 0. Governance Framework The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. This post is going to take a different approach. In addition to its governance model, the Synthetix DAO also includes a risk management system known as the “debt ceiling”. Synthetix Governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Votes. Staking App. Governance Framework. This worked well historically, but as the governance of Synthetix has progressively decentralised a more formal and transparent process for assigning members to the pDAO is required. The ElectionModule is a part of the V3GM release; it is the first release of the governance modules. There are six governing bodies on the Synthetix ecosystem:: Spartan Council; Protocol DAO; Synthetix DAO;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). Synthetix is an open source derivatives liquidity protocol on Ethereum. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. Synthetix Governance. It is a value-based entity, whose. The key decentralized councils and DAOs are the - Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Governance. Treasury Council. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Please register to be a delegate at Participating in Token House governance will require a serious time commitment. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. See below: This delegation was something Synthetix Ambassadors had initially pushed for under its internal proposal and was approved by the Spartan Council at Synthetix. Each item category is listed in order of the community’s preferences, as well as item level preferences. Synthetix founder Kain Warwick spoke with Decrypt's Dan Roberts all about DeFi governance and its challenges, his problems with voting platforms like Snapshot, DAO fatigue, regulation and the SEC, and stablecoins onstage at Chainlink SmartCon 2022. Firstly, there are exchange rewards. 9 million was raised when Synthetix sold SNX tokens to Framework Ventures. Synthetix Governance. Docs. Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc. The full configuration of Base Goerli can be seen on. Election contracts that count votes based on Synthetix weighted debt will give SNX stakers a piece of governing power without their opt-in (the aforementioned vampire attack). Each governance component is assigned a specific aspect of protocol governance. c-ratio. Template Perps V3 Keeper. Synthetix Governance: A representative council system that governs Synthetix. Staking App. SYNTHETIX GOVERNANCE. Synthetix staking is vastly different from other DeFi protocols; it allo…Blockchain technology is already radically transforming the financial system. 002908%, respectively (note: funding rates fluctuate, this isn't current). SYNTHETIX GOVERNANCE. The Synthetix Ambassadors Council have announced plans to self-delegate 2M OP tokens from their Optimism Governance Fund grant. I don’t have any direct experience but it looks intriguing. Elections and Voting. The Liquidity Layer of DeFi. revmiller December 30, 2022, 10:20pm 4. “Inflation was intended to bootstrap the network, it has done this extremely. 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. An independent Work Group is suitable for the level of decentralization that Synthetix is at and would remove the information asymmetry that integrators face when. Which is called The Spartan Council. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. Protocol Governance. Staking App. Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. 63, while Synthetix's lowest price was recorded on Jan 5, 2019 when it. io. SYNTHETIX GOVERNANCE. 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. Blog. Code Deployments Documentation. Perps V3 Keeper. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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. Powering the next. 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. Messari is hiring! Join our mission to organize and contextualize all crypto information at a global scaleSeptember 10, 2021 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. These markets generally rely on decentralized oracle networks (such as Chainlink and Pyth) to retrieve the price of off-chain assets and issue on-chain derivatives of these assets. 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. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. Interested in learning more about Synthetix and its plans for the future? Make sure to RSVP to the call to hear from SNX core contributors, council members, and. Pool: sUSD Liquidity Guage SCURVE. Docs. Project Draco will be under development, with a plan to migrate all governance functions to the Synthetix Appchain in 2024. My previous post was a long-form exploration of the future of Synthetix. 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. Sandbox with Perps. SIP-141 formalizes the responsibilities and role of the grantsDAO, and also lays out plans to expand the scope of initiatives supported by the grantsDAO. Sandbox with Perps. Another. Synthetix. The Lyra Protocol integrates with GMX on Arbitrum to delta hedge its vaults with GMX perps. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. 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. 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). Kain said that the control of Infinex would be relegated to a mode of decentralized governance. Integrators are rewarded for driving volume through Synthetix Perps. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Perps. Staked SNX enables. Additional practices in Synthetix governance that stand out and can serve as guidelines: Use of multisigs: Most governance bodies work with battle-tested implementations of multisigs from Gnosis Safe. substack. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Collateral VaultsDecentralised Autonomous Organisations An exciting phenomenon in the crypto world that is currently accelerating is the transition from a central hierarchical structured entity (Web2. Synthetix governance decides this collateralization requirement, but it generally stays between 300% and 500%. Synthetix Governance and Tokenomics Holders of the SNX token are able to vote on and make proposals on the current and future parameters of Synthetix. FOR PERP INTEGRATORS. Elections. As per SIP-155 the Treasury Council has been established to undertake many of the responsibilities of the now dissolved synthetixDAO. The Synthetix governance structure is composed of Councils, Committees, Core Contributors, and a DAO. 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. Yield Farming tokens to keep an eye on at the end of June Uniswap UNI/USD, Aave AAVE/USD, and Synthetix Network SNX/USD are some of the best yield farming. The Protocol Delegation Program was approved in Special Voting Cycle #9b. Voting with a Gnosis SafeA JavaScript-based, open source Discord bot to facilitate better #governance-poll experience. Blog. Welcome back to the 8th edition of Menya Digest! This week saw a barrage of newsflow. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform. Synthetix is moving away from centralized oracles as it heads toward fully decentralized governance. Initially, Synthetix governance participation was limited, meaning the project was partially decentralized. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. 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. 1 PAX token is equal to one ounce of fine troy gold. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. target. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Governance. Powering the next. Synthetix. See the following. Name. Technical Architecture. Blog. Docs. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. The only user interfaces maintained by Synthetix DAO are the governance and staking interfaces herein. There are FOUR instances of the ElectionModule Proxy - each representing one of the council bodies (spartan council, ambassador council, treasury council, grants council). Stats. Stats. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. 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. Synthetix Governance: A representative council system that governs Synthetix. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). My reasons for wanting to be. All of the councils are elected by Synthetix Stakers. 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. The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world assets. Name: Mirror Address or ENS: protocol. [1] Connect wallet. Synthetix Governance will determine which assets to support as collateral in addition to the current SNX (staking) and ETH (wrappers). Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). This includes price feeds for all cryptocurrency and index Synths. The Liquidity Layer of DeFi. Governance. Quick Start. 5 million Synthetix governance tokens (SNX) using popular DeFi money market protocol Aave, and pooled liquidity token exchange, Bancor. Governance. – Uniswap. Stats. Present at the August 31, 2021 Spartan Council Weekly Project Sync: Spartan Council: Brian, Danijel,When you mint sUSD, the Synthetix smart contract will work out how much debt you represented in the network at the time you joined. Synthetix, the third-largest DeFi platform by assets locked, is now under the control of community-owned organizations, or DAOs. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Perps. 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. 014361% and 0. synthetix. These councils’ Decisions and proposals are subject to majority votes from SNX stakers, ensuring a democratic and community-driven approach to protocol development. 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.