Governance Framework The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. Synthetix. 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. It is expected that the ambassadorsDAO will follow suit in the near future. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 03%. The key decentralized councils and DAOs are the - Spartan Council, Treasury Council, Ambassador Council, and Grants Council. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. 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. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. For Developers. The beauty of the dev fund is that theoretically it can self-fund all the things you talked about. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Governance. 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. Staking Guide. Binance. The Liquidity Layer of DeFi. Perps. SYNTHETIX GOVERNANCE. Show topics: what Optimism and Synthetix are how zero-knowledge rollups differ. See the following articles in the Synthetix V2 documentation for more information about Synthetix Governance: Note that the current codebase used for governance can be found at the Governance v1. Connect wallet. Sandbox with Perps. Name. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. These markets enable the creation and trading of spot synths created entirely on Synthetix V3. Synthetix is an open source derivatives liquidity protocol on Ethereum. 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. We’ve made progress, but. Last modified. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. A return to the old school gold standard. FOR PERP INTEGRATORS. Stats. Governance. Developer FAQ. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Nominations for the Synthetix Councils' (Spartan, Grants, Treasury, and Ambassador Council) next epoch will open on Thursday, August 17th. 5 million Synthetix governance tokens (SNX) using popular DeFi money market protocol Aave, and pooled liquidity token exchange, Bancor. “Inflation was intended to bootstrap the network, it has done this extremely. For example, transferring Ether simply requires 21000 gas. Docs. lens Link to delegate commitment: Delegate Commitments - #164 by Benjamin. Synthetix is a derivatives liquidity. substack. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Blog. Initially, Synthetix governance participation was limited, meaning the project was partially decentralized. You can see the list of top protocols based on gas. Powering the next. 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. Synthetix lists Tether USDT Perps. Perps V3. Grants Council. September 3, 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. 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. ⭐ 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. These are generated whenever someone makes an exchange within the Synthetix system. Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. Aelin is a new protocol and will have its own token, community, and governance system. Easy to. Governance: Synthetix is governed, maintained and built by a combination of community members, core contributors, and several elected committees and councils that are voted on by SNX stakers. I’ve included a very basic AIP Draft with some generic outlines and instructions for the ApeCoin Foundation Administrators to create a. The Synthetix Improvement Proposal repository. All. In other words, all members have to do is vote representatives that would make decisions on their behalf. Synthetix Governance. Sep 19, 2023 • 1 min read. These councils’ Decisions and proposals are subject to majority votes from SNX stakers, ensuring a democratic and community-driven approach to protocol development. It is important to note that there is a blog post detailing. Blog. One of an emerging number of decentralized finance ( DeFi) cryptocurrencies, Synthetix enables this service through code alone, without the need for a financial intermediary. Synthetix, the third-largest DeFi platform by assets locked, is now under the control of community-owned organizations, or DAOs. 1%. Perps. Name: Decentralized Mind aka cryptologist98. 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. Do you agree to abide by the delegate code of conduct:. Powering the next. VIEW ALL COUNCIL MEMBERS. This separation in multiple bodies should help encapsulate concerns and limit powers of the. For one, Synthetix incorporates six different DAOs designed to play specified governance roles within the Synthethix ecosystem. 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. Synthetix Governance. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. Synthetix and DYDX's funding rates are 0. But even when inflation was. Stats. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. 3% went to bounties and marketing incentives. The Liquidity Layer of DeFi. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. 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. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. 28m: Optimism: $242. Blog. Stats. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. We’ve made progress, but there is still much to do. The Synthetix governance framework also saw continued evolution last month. Kain has been in and around crypto since 2014 when founded the payment gateway Blueshyft, helping to. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Stats. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. The SNX price decreased-3. Please list any anticipated conflicts of interest: NoneSynthetix governance is voting to launch V3. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Staking App. 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. An open source software foundation is a not-for-profit entity established to oversee and manage an open source software project. eth Discord username: Callen | Wintermute#6664 Verification and Voting Activity: Boardroom I have read and understood the Delegate Commitment Process: Yes. The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world assets. Perps. 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. They have different levels of responsibilities, and to different extents they can be seen as autonomous entities that rely and control each other. “The changes above mark a phase shift in Synthetix governance,” the post said. These councils’ Decisions. 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. These markets have been in close-only mode for 3 months, but there are still some positions that haven’t been closed. Protocol Governance. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Information TVL Stablecoin Info Treasury Fees and Revenue Derivatives Volume Governance Forks. Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. Powering the next. Following SIP-90, the existing Snapshot space will be renamed to the “Spartan Council” while an additional snapshot space called “Synthetix Proposals” will be created. Podcast now also on YOUTUBE SNXweave Anchor Podcast: Follow us on Twitter!. Stats. Base Andromeda. 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. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. This is a huge milestone for the project as it marks the first phase of the transition to decentralised governance. Powering the next. $1. Synthetix is very unique and the closest thing that we currently have to it are asset-backed tokens. For Governance Participants. The SC votes on overall improvement proposals and parameter changes. Learn more. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. Spartan Council. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. For example, MIR token holders could vote to raise or lower the minimum collateralization ratio, or to implement transaction fees. Label all the bodies in which token holders delegate to (via a direct vote) as a Council. Stats. 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). Governance. 42 since April 01, 2022, and the current price stands at $2. 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 decision to leverage Synthetix governance relied on the past success of Thales and Kwenta in establishing independent communities. Also, in December 2019, Synthetix governance lowered the inflation percentage and added the same to. For example, Synthetix uses our API to power their council member pages, which you can find here: Synthetix | Governance V3; Happy to hop on a call to discuss options and figure out how best to partner! Feel free to respond here, DM, or happy to share my Telegram. 0) to a decentralised and flat structured entity (Web3. In 2019, an additional $3. 00%. The Spartan council is at the center of the Synthetix governance. Blog. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 5 million USDC on decentralized exchange, Kyber, exerting downward pressure on the price of SNX. The Liquidity Layer of DeFi. Despite Rocket Pool’s recent success, the overall statistics have not been looking great recently. Delegated voting is more in line with the preexisting Synthetix Governance framework on Discord while also providing the benefits of Snapshot voting. Kain Warwick Dec 17, 2019 • 8 min read Introduction Anyone following Synthetix this year is aware of our transition towards decentralised protocol control. The next Synthetix community governance call is scheduled for Aug 29th at 8PM UTC (08/29 afternoon/evening for western hemisphere; 08/30 morning for eastern hemisphere). There are FOUR instances of the ElectionModule Proxy - each representing one of the council bodies (spartan council, ambassador council, treasury council, grants council). Quarterly Report for Synthetix, Quarter 2 of 2022: April — June. Governance bodies: Synthetix heavily relies on different DAOs to ensure governance runs smoothly. The Liquidity Layer of DeFi. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The key decentralized. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. request collateral from an existing Pool OR. Councils are directly elected by SNX stakers, while other governance bodies are appointed according to the existing governance procedures. 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. Synthetix Carina will also be running on Ethereum, a latency-optimized version of perps using ETH (and LSDs) as collateral. What does it do: The proposal outlines a 12-month engagement between Gauntlet and Aave, starting on December 28, 2022, and ending on December 28, 2023. Besides governance, Synthetix also has to contend with increasing regulatory scrutiny of a core part of its offering—tokenized stocks. 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). The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a 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). Aave, Compound, Uniswap, etc. All of the councils are elected by Synthetix Stakers. While Synthetix's governance initially fell under a non-profit foundation, this structure dissolved in 2020. Here is what the supply of active SNX rewards to SNX stakers looks like currently: SNX supply curve: Messari. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc. 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. 19 to $1. It creates a bridge between traditional investment instruments, such as equities, and the realm of decentralized platforms and digital assets. Protocol name: QiDao Protocol Name of protocol representative(s) that will serve as delegate(s): Benjamin. Perps V3 Keeper. There is still time to vote if you haven't yet. Initially, Aelin v1 will be governed by the Aelin Council, a DAO which will be voted on by SNX stakers. Developer FAQ. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). Protocol Governance. Build on v3. synthetix. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. As Synthetix governance has rapidly and successfully evolved we have encountered friction within the Core Contributors. Read Synthetix (SNX) Price Prediction 2023-2024. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Optimism migration. 3% went to bounties and marketing incentives. Join the Kwenta Community. great. Staking App. Coin Prices. Quick Start. The Synthetix Improvement Proposal repository. They will. The Synthetix Network token (SNX) incentivizes coordination and growth within the Synthetix Network. ⭐ Grants Council: Dune Analytics Grants & Wrapper UI (ongoing). Sandbox with Perps. ) to a committee of ambassadors focused on furthering. Synthetix was originally governed by the Synthetix Foundation, a not-for. All of the councils are elected by Synthetix Stakers. Docs. Quarterly Report for Synthetix, Quarter 2 of 2023: April — June. SIP-306: V3 Migration SIP-323: Adopt "s" prefix for Synthetix V3 asset tickers. Perps V3. Staking App. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. The Liquidity Layer of DeFi. 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. DecentralizedMind January 16, 2023, 5:39pm 198. nominations. Ambassador Council. **Aelin Overview **Aelin is a deal coordination protocol, it differs from an on-chain fund like the LAO because each deal is discrete. Blog. Perps. The trading of stocks, currencies, commodities, and other assets are still dominated by the likes of Wall Street, London. SIP-141 formalizes the responsibilities and role of the grantsDAO, and also lays out plans to expand the scope of. The minted sUSD can be used within the Synthetix ecosystem or traded on other platforms. Uniswap is a decentralized exchange protocol that enables users to trade ERC-20 tokens directly from their wallets. During an in-depth discussion with Decrypt’s Dan Roberts at Chainlink SmartCon last week, Warwick said he believes DeFi governance “is actually worse today” than one year ago. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. Stats. 846K AAVE For, 256K AAVE Against. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Powering the next. 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. Expected. 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. Protocol Governance. ), synthetic commodities such as gold (sXAU), as well as more complex assets suchCurrent Protocol Parameters. 6 Likes. With Thales participating in the Protocol Delegation initiative, we wish to do our part in helping the Optimism Vision with our growth and governance experience inherited from as far back as the early days of Synthetix, the pioneer of delegate governance structure. staking assets supported. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. 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. For example, the Ambassador Council is responsible for promoting Synthetix’s interest in the Ethereum ecosystem. Synthetix Governance Find links to each core component of the Synthetix Governance System. Kwenta. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. Abstract. synthetix. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. Docs. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. 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. Docs. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. Perps. 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. Staking App. For all their commitment to the crypto cause. Governance. SNX Stakers earn weekly rewards for collateralizing the. The Aelin project helps individuals (sponsors) and protocols to raise capital from their communities via two primary methods. Simple Summary. You can trade Synths — which. 63, while Synthetix's lowest price was recorded on Jan 5, 2019 when it. These include the Spartan Council, Protocol DAO, Synthetix DAO, Ambassadors DAO, and Grants DAO. While this proposal passed unanimously, concerns were raised subsequently that the Snapshot vote weights deviated too far from the status quo. 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. 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. Synthetix was originally overseen by a non-profit foundation in Australia. sUSD borrowing via SNX would also be enabled as part of Project Draco. Governance. The Liquidity Layer of DeFi. Easy to. 1 day ago · Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Welcome back to the 8th edition of Menya Digest! This week saw a barrage of newsflow. The current Synthetix Governing Bodies are: Spartan Council; grantsDAO;. Blog. It serves as a reminder that sometimes you might reduce complexity by just using a multisig instead of a full-fledged Governor-like contract. What we can say is that there is no opaque centralised body the Synthetix network relies on to “guard” the Synthetix protocol. Synthetix staking is vastly different from other DeFi protocols; it allows anyone to earn rewards by contributing collateral (SNX) to the Synthetix protocol. David_Heisenberg May 18, 2023, 1:17am 189. Aelin is a new protocol and will have its own token, community, and governance system. 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. Collateral: SCURVE . Stats. Spartan Council (8 Members) The Spartan Council (SC) is the central governing body of the Synthetix protocol. 12% went to the Synthetix Foundation (later transitioned into DAOs). It has two primary functions: (a) Staking and (b) Governance. This includes price feeds for all cryptocurrency and index Synths. Staking App. Perps V3. This, in turn, calls the payout function on the rewards distributor. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Protocol Governance. . Let’s start with the highlights, shall we? Q2 Highlights. Governance Tokens Some DeFi platforms — including Compound and Synthetix — have further incentivized lending and borrowing by allowing both parties to accrue the platform’s governance token . Perps. request collateral from an existing Pool OR. Governance. On Aug. For Developers. The founder of decentralized finance (DeFi) protocol Synthetix, Kain Warwick, has submitted a proposal that would turn off very high yield returns for SNX stakers and cap the total SNX token supply at 300 million. Synthetix V3 is currently in alpha. Governance. The. 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. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. On Compound, for example, lenders and borrowers receive the native COMP token, which accrues according to usage of the. 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. Elections. 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 Stakers are assigned a. Earlier this month, SNX witnessed its largest drop and lowest TVL to date at $420 million as the DeFi crash led to several SNX stakers being liquidated. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. Governance. What is the Grants Council? The Grants Council is responsible for public goods funding through grants, initiative bounties, or competition prizes. 87M, market cap of $ 395. to a Spartan Council member on discord by searching members with the "Spartan Council" role or finding them within the #governance channel. Shardeum Sphinx LiveFor Governance Participants. All supported markets benefit from deep liquidity and low fees, thanks to the use of fully decentralized off-chain oracles and Synthetix liquidity. The Blockchain-ification of Finance. 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. Synthetix enables the creation and trading of synthetic assets backed by stakers using SNX tokens. Synthetix is excited to announce the addition of stETH/ETH perpetual futures markets, now available for leverage trading via Synthetix Perps. 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. This doc includes minting probability estimates for different attributes. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. The Spartan Council will schedule in a. MattL October 17, 2022, 7:38pm #1. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Stats. Governance. Blog. . So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. Governance. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against collateral on-chain. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. revmiller December 30, 2022, 10:20pm 4. Grants Council. target. For security reasons, the payout function should always revert unless msg. Elections. This SIP introduces one of the first components of the V3 Governance Module - called the Election Module. “While we have been governed through rough consensus for some time. These were swapped for 6. Sandbox with Perps. Uniswap announces vision for v4 (read more here)The Synthetix Improvement Proposal repository. Synthetix stands at the cusp of creating a DeFi revolution with its upcoming V3 release. With the rise of DeFi, a new form of governance has emerged specifically designed for decentralized systems. sender is equal to Synthetix Core address. 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. Governance. It enables the creation of synthetic assets (Synths) by staking SNX, and these Synths can be traded for each other directly with the. Docs. Revenue Share. 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. Synthetix DAO does not unilaterally offer, maintain, operate, administer, or control any trading interfaces. 5% went to partners. What is Synthetix? Synthetix is a derivatives liquidity protocol on Ethereum. Synthetix Governance: A representative council system that governs Synthetix. The Liquidity Layer of DeFi. Wide Variety of Assets Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. The epoch will. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). Perps. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Stats. Stats. Spartan Council and SIP updates Present at the January 11, 2022 Spartan Council Weekly Project Sync:Learning from the current short-falls of the gDAO, the new gDAO members have gotten together in order to propose the above responsibilities and programs of gDAO in order to both support the updated governance model of Synthetix and effectively allow the contribution of talented individuals or teams to the growth of the Synthetix ecosystem. Powering the next. Synthetix DAO. Other. This fee is set by governance, and will be displayed by the SNX integrator before the trade. Powering the next. So I wrote SIP-180 which proposed utilising Synthetix governance to do a fair launch with a retro distribution to all SNX stakers as compensation for using their governance framework.