Perps. Synthetix V3 is currently in alpha. Quarterly Report for Synthetix, Quarter 2 of 2023: April — June. Request some of the existing $500m+ Synthetix collateral for your market. 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. Perps. ⭐ Spartan Council/CCs: Upgraded Liquidation Mechanism & Atomic Swap Integrations. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Here are some quick details about each council. These councils’ Decisions. Synthetix and DYDX's funding rates are 0. 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. Perps. Synthetix Governance. Decisions and proposals put forth by these councils are. Blog. The Synthetix Network token (SNX) incentivizes coordination and growth within the Synthetix Network. For example, if you minted $1000 sUSD and the total sUSD value of all Synths in circulation is currently $1 million, your debt ratio owed to the network is 0. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). 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. Information TVL Stablecoin Info Treasury Fees and Revenue Derivatives Volume Governance Forks. They allow users. 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. It utilizes an automated liquidity provision mechanism and has gained significant popularity. Quick Start. Synthetix Governance. Garth Travers. Powering the next. Protocol name: Atlantis World. Staking App. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. 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. dollar) and crypto assets (like Bitcoin ). Synthetix was originally overseen by a non-profit foundation in Australia. 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. Powering the next. We would like to ensure that there is advanced notice of this delegation because of anticipated community feedback. Optimism migration. The epoch will. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. 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. Synthetix Governance Find links to each core component of the Synthetix Governance System. . Blog. Per SCCP-304, the spot market system has deployed a synthetic ETH token by creating a market for it. Each governance component is assigned a specific aspect of protocol governance. 6 Likes. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. SYNTHETIX GOVERNANCE. Wide Variety of Assets Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. ), synthetic commodities such as gold (sXAU), as well as more complex assets suchCurrent Protocol Parameters. Docs. . Perps. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Sandbox with Perps. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Anyone can static call the claimRewards function to see what an account ID can claim from a distributor registered to a specified vault, accounting for amounts previously claimed. Blog. Podcast now also on YOUTUBE SNXweave Anchor Podcast: Follow us on Twitter!. 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 post addresses the issues and how we can resolve them. They are elected by those providing SNX tokens to the protocol. 129: sSNX ERC-20 Synths: Andre Cronje. These councils’ Decisions and proposals are subject to majority votes from SNX stakers, ensuring a democratic and community-driven approach to protocol development. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Synthetix V3 is currently in alpha. See the following. Perps. Audits: n/a. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. 125: Create synths for top traded US stock index etfs: FinanceGuy82415. Perps. Powering the next. DecentralizedMind January 16, 2023, 5:39pm 198. The token economics look good, as a high percentage belongs to investors. Base Andromeda. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. 4% discount to its all-time high. sUSD borrowing via SNX would also be enabled as part of Project Draco. 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. Analogous to derivatives in legacy finance, synthetic assets are financial instruments in the form of ERC-20 smart contracts known as “Synths,” which track and provide the returns of another asset without requiring you to hold that asset. With mature on-chain representative governance in place, we're empowering an entire ecosystem that operates with resilience and censorship resistance. Learn more. request collateral from an existing Pool OR. The Election Module is proposed to replace the existing Snapshot election process carried out by the Synthetix DAOs whilst also providing a standard module which other protocols can use for their governance. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. For Developers. Show topics: what Optimism and Synthetix are how zero-knowledge rollups differ. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. The Synthetix Protocol is governed by several key bodies and artifacts. The Liquidity Layer of DeFi. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Analogous to Uniswap, in exchange for extending credit. 71% in the last 24 hours. 1 day ago · Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Click here to view original web page at blog. Blog. Powering the next. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. This doc includes minting probability estimates for different attributes. Users pool funds into. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Protocol Governance. $3. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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. It serves as a reminder that sometimes you might reduce complexity by just using a multisig instead of a full-fledged Governor-like contract. I understand that becoming a delegate is a significant commitment: Yes. 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. For some reason, the community keeps coming up with major. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. This is the mechanism that prevents deficits during extreme market crash events, as the governance is there to ensure that the synths are sufficiently collateralized and will not result in a system deficit in. Other. Lyra Interface is an interface for trading, liquidity provision and governance of the Lyra Protocol. $1. 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. ⭐ Grants Council: Dune Analytics Grants & Wrapper UI (ongoing). Powering the next. Please register to be a delegate at Participating in Token House governance will require a serious time commitment. 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. 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. Governance. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). mirror. These are just a few of the investors who have invested in our past accelerator projects. Shardeum Sphinx LiveFor Governance Participants. Blog. The new version will have a modular mechanism supporting multi-collateral staking, customizable debt positions, and permissionless synths. GitHub. Blog. 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. The Liquidity Layer of DeFi. ⭐ 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. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. Stats. Each governance component is assigned a specific aspect of protocol governance. Inflation was introduced in march 2019 in order to help bootstrap the network, following the pivot from Havven to Synthetix. Abstract. Governance. Synthetix staking is vastly different from other DeFi protocols; it allo…Blockchain technology is already radically transforming the financial system. Integrators are rewarded for driving volume through Synthetix Perps. The decision to leverage Synthetix governance relied on the past success of Thales and Kwenta in establishing independent communities. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Optimism Collective Delegate Commitments [OLD] 📌 Policies and Templates. SIP-306: V3 Migration SIP-323: Adopt "s" prefix for Synthetix V3 asset tickers. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. Stats. Quick Start. For example, the Ambassador Council is responsible for promoting Synthetix’s interest in the Ethereum ecosystem. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. 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. The protocol is governed by Aelin DAO (also known as Aelin Council), based on the Synthetix governance framework. Governance. substack. The epoch will last four months, starting August 30th. – Uniswap. Link to Synthetix Discord Dune AnalyticsFinally, governance can be used to create incentives to mint and sell mAssets, helping to fix broken price pegs. Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. Governance. synthetix. Binance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Benefits for Synthetix Protocol. Easy to. Staking App. The goal is to get the protocol to a point where it is resistant to capture, whether from a. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. Current Target C-Ratio: 400% For more updated information, monitor Synthetix governance votes and the SIP/SCCP repo. Aug 14, 2023 4 min read. 5 million USDC on decentralized exchange, Kyber, exerting downward pressure on the price of SNX. Furthermore, these tokens were directed to be held by the. 55 each. Initially, Synthetix governance participation was limited, meaning the project was partially decentralized. Base Andromeda. This proposal aims to simplify the meta-governance processes of the Synthetix Governance System and addresses current meta-governance edge-cases and frictions. Over time, Synthetix Governance will determine which assets to support as collateral in addition to the current SNX (staking) and ETH (wrappers). If SIP-276 is passed by the Synthetix governance community, ten periodic installments of 675,000 SNX tokens will be added to the current total supply of 293 million tokens in order to reach the. Perps. SYNTHETIX GOVERNANCE. David_Heisenberg May 18, 2023, 1:17am 189. lens Link to delegate commitment: Delegate Commitments - #164 by Benjamin. 03%. Governance. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. 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. Governance. 03%. Quarterly Report for Synthetix, Quarter 2 of 2022: April — June. 71% in the last 24 hours. All. This includes price feeds for all cryptocurrency and index Synths. Synthetix Governance. The key decentralized. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The Aelin project helps individuals (sponsors) and protocols to raise capital from their communities via two primary methods. 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. Synthetix is moving away from centralized oracles as it heads toward fully decentralized governance. SNXweave Weekly Recap September 24, 2021 - Blog - Podcast Synthetix Community Governance Call Come join us at 9pm UTC… synthetixweekly. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. You can see the list of top protocols based on gas. Prototype V3 keeper using the Synthetix Python SDK. Synthetix Governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Delegated voting is more in line with the preexisting Synthetix Governance framework on Discord while also providing the benefits of Snapshot voting. Perps V3 Keeper. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. US is the crypto trading platform for US residents where you can buy, sell, and trade cryptocurrencies and alt coins with some of the lowest fees in the US. Governance. The poolId and collateralType parameters specify the vault to liquidate. Collateral: SCURVE . Request some of the existing $500m+ Synthetix collateral for your market. 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. So you know, the CEO and those people on down are. Aave, Compound, Uniswap, etc. 15 protocols qualify to participate based on total gas fees generated on Optimism in Season 2. PAX gold comes to mind, given that it is a cryptocurrency backed by gold. Staked SNX enables. Elections. The Spartan. Perps V3. 9 million was raised when Synthetix sold SNX tokens to Framework Ventures. Perps V3. Docs. Synthetix Governance: A representative council system that governs Synthetix. Voting with a Gnosis SafeDự án Synthetix đang nổi lên như một trong những dự án tiền điện tử tiên phong trong lĩnh vực tài sản tổng hợp và thanh khoản phi tập trung trên blockchain. The release includes: SIP-295: Addition of Perps V1 markets to Synthetix Perps V2; SIP-2000: Addition of ATOM, AXS, FLOW, FTM, NEAR, AUD/USD, and GBP/USD to Perps V2; Two new SIPs have been approved by Synthetix. The V3 Watcher Stats page is also officially complete, so check that out for all of your stats needs!Synthetix price today is $ 3. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. 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. Abstract. – SynthetixProtocol name: BeethovenX & Balancer Name of protocol representative(s) that will serve as delegate(s): solarcurve Link to delegate commitment : Delegate Commitments - #44 by solarcurve Is your protocol OP Native?: No Was your protocol active in Optimism governance prior to 12/5/22?: I’ve voted on 100% of votes in my capacity as. Name of protocol representative (s) that will serve as delegate (s): Rev Miller, CJ Hetherington. 014361% and 0. It enables the creation of synthetic assets (Synths) by staking SNX, and these Synths can be traded for each other directly with the. Powering the next. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Smart Contracts. Here, we will explore the role of governance in DeFi, leading protocols, and how it…Kain Warwick is an entrepreneur, blockchain developer, author, investor and all round crypto enthusiast, and is the founder of Synthetix, a decentralised synthetic asset platform that supports multiple fiat currencies and commodities. Docs. In addition to its governance model, the Synthetix DAO also includes a risk management system known as the “debt ceiling”. VIEW ALL COUNCIL MEMBERS. 7 Likes. The only user interfaces maintained by Synthetix DAO are the governance and staking interfaces herein. The liquidateAsAccountId parameter specifies an account which should receive the collateral. 44 with a 24-hour trading volume of $ 396. Each item category is listed in order of the community’s preferences, as well as item level preferences. [1] Connect wallet. Synthetix Governance: A representative council system that governs Synthetix. The Liquidity Layer of DeFi. Synthetix governance decides this collateralization requirement, but it generally stays between 300% and 500%. These markets have been in close-only mode for 3 months, but there are still some positions that haven’t been closed. 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. 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. 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. 0). These markets were approved by governance in SIP 2032 and had initial configurable values set by SCCP-2042. SNX is the native token of the Synthetix Network and has two main functions: staking and governance. Developer FAQ. Kain has been in and around crypto since 2014 when founded the payment gateway Blueshyft, helping to. Powering the next. 12% went to the Synthetix Foundation (later transitioned into DAOs). 63, while Synthetix's lowest price was recorded on Jan 5, 2019 when it. Synthetix is a derivatives liquidity. Initially, Aelin v1 will be governed by the Aelin Council, a DAO which will be voted on by SNX. Synthetix Carina will also be running on Ethereum, a latency-optimized version of perps using ETH (and LSDs) as collateral. 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. There will now be 5 Ambassadors that win seats, which will be reflected in the election that is currently ongoing. By allowing token holders to participate in decision-making, Synthetix ensures a decentralized approach to managing its innovative financial ecosystem. Synthetix Governance: A representative council system that governs Synthetix. Powering the next. Elections. 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. This was always going to be a controversial decision, regardless of which way it went. V3Yuga Labs of Bored Apes fame drifts away from OpenSea over royalty policyNext - For Derivatives Market Builders. The Blockchain-ification of Finance. The SC votes on overall improvement proposals and parameter changes. Protocol name: QiDao Protocol Name of protocol representative(s) that will serve as delegate(s): Benjamin. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. They will. Synthetix started out as a stablecoin, before pivoting to DeFi. 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. 42 since April 01, 2022, and the current price stands at $2. 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. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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. Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards. great. Messari’s recent update takes a look at what Synthetix has been up to. 👉Q3 Highlights. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Coin Prices. SNX Balance 0. Creating and Configuring Pools. Elections and Voting. Each governance component is assigned a specific aspect of protocol governance. Synthetix 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. Last modified 2mo ago 2mo agoThe team is also working on bringing more visibility to pr. Meta-Governance: Network: Ethereum & Optimism: Implementor: TBC: Release: TBD: Created: 2022-08-25:. Governance. The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. Synthetix is moving away from centralized oracles as it heads toward fully decentralized governance. Users may also provide liquidity to derivatives markets, which can use fees to repay their debt. Back in June, the DeFi protocol received 9M OP tokens during Phase 0 of Optimism’s Governance Fund. Name. Meta-Governance Processes; Defining the different types of governing bodies Overview. This guide has been updated as of 7/28/22. In Governance Update #2 , foundation gave a clear instruction that self-dealing is not expected. Sandbox with Perps. Please list any anticipated conflicts of interest: NoneSynthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. System Staking 69. Q2 Highlights ⭐ Spartan Council/CCs: V3 Audit & $10B Volume Milestone ⭐ Grants Council: Funding Rate Bot & Stats Bot ⭐ Ambassador Council: OP Governance Participation & Integrations We are only halfway through 2023 and the Core Contributors (CCs) have already made massive strides towards Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). 7: Fully Diluted Valuation. Synthetix governance was faced with a very challenging decision. Staking App. The current rewards have no expiry date but can be adjusted by a vote from Synthetix governance. SYNTHETIX GOVERNANCE. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Synthetix. KIP proposal (Kwenta) Mojo created a KIP for Kwenta to agree to the terms laid out in LEAP-43, and host Lyra Options for 6 months; Optimism Governance Forum Activity: The Synthetix Ambassadors have a major voice in Optimism. Also, in December 2019, Synthetix governance lowered the inflation percentage and added the same to. FOR PERP INTEGRATORS. The beauty of the dev fund is that theoretically it can self-fund all the things you talked about. 💡Staking variables change regularly based on governance action. For Governance Participants. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. For example, transferring Ether simply requires 21000 gas. These were swapped for 6. Sandbox with Perps. Governing Bodies The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Docs. The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world 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. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Stats. Base Andromeda. Debt positions need to be maintained at a certain collateralization ratio, which fluctuates and is determined by Synthetix governance. The Liquidity Layer of DeFi. 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. For Developers. This SIP proposes to establish a clear inclusion criteria for a Core Contributor to be added as a signer to the protocolDAO. FOR PERP INTEGRATORS - Previous. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. 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). Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform.