SIP-306: V3 Migration SIP-323: Adopt "s" prefix for Synthetix V3 asset tickers. 👉Q3 Highlights. Elections and Voting. MattL October 17, 2022, 7:38pm #1. The Liquidity Layer of DeFi. 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. 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 price today is $ 3. Synthetix staking is vastly different from other DeFi protocols; it allows anyone to earn rewards by contributing collateral (SNX) to the Synthetix protocol. It was one of the last remaining areas of centralisation and this transition marks the end of. The Synthetix Improvement Proposal repository. Meta-Governance: Network: Ethereum & Optimism: Implementor: TBC: Release: TBD: Created: 2022-08-25:. Perps. Governance. The Liquidity Layer of DeFi. One debate that has been ongoing since the beginning of this governance is the use of tokens allocated in project grants to increase the voting power of their delegates. This post will highlight the changes so far and the areas of focus for 2020. Blog. 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). io by adding links to it from different landing pages (such as governance, staking, tools, etc). Synthetix DAO does not unilaterally offer, maintain, operate, administer, or control any trading interfaces. Docs. . Ambassador 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. Powering the next. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Stats. 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. 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). All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. 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. Passed: Yes. Powering the next. 63, while Synthetix's lowest price was recorded on Jan 5, 2019 when it. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. Spartan Council (8 Members) The Spartan Council (SC) is the central governing body of the Synthetix protocol. 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. 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. 44 with a 24-hour trading volume of $ 396. 71% in the last 24 hours. VIEW ALL COUNCIL MEMBERS. Creating and Configuring Pools. Synthetix is very unique and the closest thing that we currently have to it are asset-backed tokens. 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. Perps V3 Keeper. 1m: Market Cap. 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. To counterbalance Synthetix’s blatant increase in power, the Collective decided to introduce a ‘Protocol Delegation Program’ in Season 3, which enabled protocols to have a say in Optimism’s Token House governance. Market Development Guide. Blog. Shorting ( SIP-135) and Futures ( SIP-80) will follow soon. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 1 PAX token is equal to one ounce of fine troy gold. 0) to a decentralised and flat structured entity (Web3. 03%. synthetix. Perps. Collateral: SCURVE . Stats. Please list any anticipated conflicts of interest: NoneSynthetix Governance Elections - August 2023 Nominations for the Synthetix Councils' next epoch will open on Thursday, August 17th. Technical Architecture. Configuration. 1%. 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. However, since then, the TVL has risen to $800 million at the time of writing, and the price of. Base Andromeda. 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. synthetix. Synthetix is moving away from centralized oracles as it heads toward fully decentralized governance. Code Deployments Documentation. $681. Base Andromeda. 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. The current Synthetix Governance signaling process is non-sybil resistant, easy to contest, and not a good indicator of community participation and sentiment. Blog. ), synthetic commodities such as gold (sXAU), as well as more complex assets suchCurrent Protocol Parameters. target. 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 provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. This post is going to take a different approach. Staking App. Perps. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Uniswap and Polygon released major updates while Korean CeDefi platforms are. They allow users. 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. Current Protocol Parameters. Governance. Aave, Compound, Uniswap, etc. 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. Docs. SYNTHETIX GOVERNANCE. The only user interfaces maintained by Synthetix DAO are the governance and staking interfaces herein. The Liquidity Layer of DeFi. Sep 1, 2020 • 2 min read. Governance-approved SCCPs can make these markets available for trading on frontends @Kwenta_io & @DecentrexHQ in the coming days. 014361% and 0. SYNTHETIX GOVERNANCE. Councils are directly elected by SNX stakers, while other governance bodies are appointed according to the existing governance procedures. My reasons for wanting to be. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. 44 with a 24-hour trading volume of $ 396. 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. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc. Lyra Interface is an interface for trading, liquidity provision and governance of the Lyra Protocol. 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. However, in support of decentralization, the administration of the protocol was shifted and split between four governing councils, Spartan, Grants, Ambassador, and Treasury. sUSD Balance 0. The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. 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. The Liquidity Layer of DeFi. 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. These councils’ Decisions. The Synthetix discord is the place to engage in protocol governance and robust community discussion about the direction of the project. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. There is still time to vote if you haven't yet. Synthetix is moving away from centralized oracles as it heads toward fully decentralized governance. The Protocol Delegation Program was approved in Special Voting Cycle #9b. 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, the DeFi protocol for trading asset-pegged synthetic tokens on. Synthetix. August 13, 2021. Synthetix Carina will also be running on Ethereum, a latency-optimized version of perps using ETH (and LSDs) as collateral. 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 liquidated collateral is seized from all of the liquidity positions in the vault pro-rata. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. It further suggests deploying Andromeda to Optimism and Arbitrum, and deploying Carina (ETH-only backed Perps) to Ethereum. 4K subscribers in the synthetix_io community. Synthetix enables the creation and trading of synthetic assets backed by stakers using SNX tokens. Back in June, the DeFi protocol received 9M OP tokens during Phase 0 of Optimism’s Governance Fund. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Perps. Docs. This means that SNX will necessarily be worth 3-5 times the value of all necessary sAssets. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Stats. The trading of stocks, currencies, commodities, and other assets are still dominated by the likes of Wall Street, London. 131: Revoke the "ALL" approval, if set, when withdrawing other approvals. Name: Wintermute Address of ENS: wintermutegovernance. Staking App. Users may also provide liquidity to derivatives markets, which can use fees to repay their debt. This epoch will run for three months as per SCCP-78, and there are now 22 community. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. The next Synthetix community governance call is scheduled for June 29th at 8pm UTC (6/29 afternoon/evening for western hemisphere; 6/30 morning for eastern hemisphere), and we’d love for you to join us! We'll be holding this event on our Discord, RSVP at upcoming launch of Synthetix V3 and a decentralized exchange front-end called Infinex will. Name: Mirror Address or ENS: protocol. All of the councils are elected by Synthetix Stakers. Aug 14, 2023 4 min read. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. 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. Another Spotify podcast, Synthetix Discussions, includes longer form discussion about SIPs and Community Governance calls. Blog. 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. Abstract. Blog. g. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. While this proposal passed unanimously, concerns were raised subsequently that the Snapshot vote weights deviated too far from the status quo. 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. Easy to. 👉Q3 Highlights. sUSD borrowing via SNX would also be enabled as part of Project Draco. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. 1 day ago · Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Market Development Guide. Other. xyz Discord username: cf#7928 Verification: Tally I have read and understood the Delegate Commitment Process: Yes. Staking App. PAX gold comes to mind, given that it is a cryptocurrency backed by gold. ⭐ 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. The Liquidity Layer of DeFi. All markets must be approved by Synthetix Governance through a SIP and a subsequent SCCP to configure variables. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. The Liquidity Layer of DeFi. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. In Synthetix, users can deposit any ERC-20 token approved by the Synthetix governance into a vault. Kwenta is a trading interface for perpetuals and options that integrates with Synthetix and Lyra Protocol. ) to a committee of ambassadors focused on furthering. The Synthetix governance framework also saw continued evolution last month. View the history of past council elections and vote in any currently open elections. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Coin Prices. The Synthetix Improvement Proposal repository. There will now be 5 Ambassadors that win seats, which will be reflected in the election that is currently ongoing. Synthetix Governance. The new module will reportedly make it easier for the network to make governance decisions with. Thales protocol is Optimism native protocol born out of the Synthetix ecosystem. Spartan 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. 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. Grants Council. Governance. If you haven't already, join the Kwenta community on Discord. 63, while Synthetix's lowest price was recorded on Jan 5, 2019 when it. Synthetix and DYDX's funding rates are 0. For Liquidity Pool Managers. SYNTHETIX GOVERNANCE. The collateralized SNX tokens are locked in a staking contract; in return, stakers receive rewards and market returns. Link to delegate commitment 9: Delegate Commitments - #162 by revmiller. The Lyra Protocol integrates with GMX on Arbitrum to delta hedge its vaults with GMX perps. Powering the next. Synthetix stands at the cusp of creating a DeFi revolution with its upcoming V3 release. SNX is the native token of the Synthetix Network and has two main functions: staking and governance. 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. This means that SNX will necessarily be worth 3-5 times the value of all necessary sAssets. Blog. Blog. Aelin is a new protocol and will have its own token, community, and governance system. SYNTHETIX GOVERNANCE. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against collateral on-chain. Governance. Synthetix staking is vastly different from other DeFi protocols; it allo…Blockchain technology is already radically transforming the financial system. Nominations for the Synthetix Councils' (Spartan, Grants, Treasury, and Ambassador Council) next epoch will open on Thursday, August 17th. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Powering the next. Kain Warwick, founder of Synthetix, and Ben Jones, cofounder and chief scientist at Optimism Foundation, discuss the current state of Ethereum Layer 2s, Optimism’s new governance structure, why Synthetix chose to build on Optimism, and more. 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. For Developers. Synthetix (SNX) is a decentralized liquidity provisioning protocol built on Ethereum and Optimism, serving as a backend liquidity layer for some of the most innovative protocols in the DeFi ecosystem. Garth Travers. 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. 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. More competitive offering - Lower fees can be passed on to users, making Synthetix and its. Synthetix is a protocol for the issuance of synthetic assets that tracks and provides. Governance. Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. Docs. 5 Likes. eth Discord username: Callen | Wintermute#6664 Verification and Voting Activity: Boardroom I have read and understood the Delegate Commitment Process: Yes. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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. Synthetix reached its highest price on Feb 14, 2021 when it was trading at its all-time high of $ 28. Synthetix Governance. This fee is set by governance, and will be displayed by the SNX integrator before the trade. And so in Synthetix you have a quasi board, right. 19 to $1. Smart Contracts. See the following. Docs. 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. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. sUSD borrowing via SNX would also be enabled as part of Project Draco. 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”). So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. $3. There are FOUR instances of the ElectionModule Proxy - each representing one of the council bodies (spartan council, ambassador council, treasury council, grants council). Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Voting is still in progress. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. SNX tokens are up more than 500% in price so far this year. 15 protocols qualify to participate based on total gas fees generated on Optimism in Season 2. The only user interfaces maintained by Synthetix DAO are the governance and staking interfaces herein. GMX. Sep 19, 2023 • 1 min read. For Developers. It allows users to generate DAI by locking collateral assets and participate in the governance of the protocol. Benefits for Synthetix Protocol. This business structure created as a result is called a Decentralised Autonomous. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. 12% went to the Synthetix Foundation (later transitioned into DAOs). Quick Start. Lastly, JVK has been working on a document to guide the dev who is working on the mint for the NFT project. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. 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,. mirror. Blog. The. For example, MIR token holders could vote to raise or lower the minimum collateralization ratio, or to implement transaction fees. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. Decisions and proposals put forth by these councils are subject to majority votes from SNX stakes, ensuring a democratic and community-driven approach to protocol development. VIEW ALL COUNCIL MEMBERS. Blog. Votes. Synthetix. Uniswap announces vision for v4 (read more here)The Synthetix Improvement Proposal repository. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Which is called The Spartan Council. Governance. I understand that becoming a delegate is a significant commitment: Yes. Kain said that the control of Infinex would be relegated to a mode of decentralized governance. The current Synthetix Governing Bodies are: Spartan Council; grantsDAO;. Synthetix is excited to announce the addition of ZRX & UMA perpetual futures markets, now available for leverage trading via Synthetix Perps. This includes price feeds for all cryptocurrency and index Synths. Pool: sUSD Liquidity Guage SCURVE. It is fair to say this was a far more successful change than anyone anticipated. 3% went to bounties and marketing incentives. Perps. Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. The Synthetix Ambassadors Council have announced plans to self-delegate 2M OP tokens from their Optimism Governance Fund grant. Synthetix enables the creation and trading of. . Elections and Voting. Consensus Check. Synthetix Governance Find links to each core component of. Synthetix. Perps. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. Synthetix is excited to announce the addition of stETH/ETH perpetual futures markets, now available for leverage trading via Synthetix Perps. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. The reason for this is to gauge demand for LPs offering up different collateral. substack. We’ve made progress, but there is still much to do. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Perps V3. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. Governance. 👉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. Optimism migration. These are just a few of the investors who have invested in our past accelerator projects. 03%. It creates a bridge between traditional investment instruments, such as equities, and the realm of decentralized platforms and digital assets. . Docs. For example, transferring Ether simply requires 21000 gas. The Liquidity Layer of DeFi. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. Synthetix is the backbone for derivatives trading in DeFi, allowing anyone, anywhere to gain on-chain exposure to a vast range of assets. Perps. My reasons for wanting to be a delegate: Governance, voting and the separation of powers. 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. Perps. Perps. Abstract. Synths comply with the ERC-20 standard, which means they are compatible with an enormous number of. To download the Addresses + ABIs for Synthetix via the command line, you can run the following command: npx @usecannon/cli inspect synthetix-omnibus -. My previous post was a long-form exploration of the future of Synthetix. This just granted a few special permissions to the LegacyMarket contract, which is the facilitator of the migration to Synthetix V3. There is still time to vote if you haven't yet. Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. The minted sUSD can be used within the Synthetix ecosystem or traded on other platforms. . Staking App. As per SIP-155 the Treasury Council has been established to undertake many of the responsibilities of the now dissolved synthetixDAO. 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. The protocol is governed by Aelin DAO (also known as Aelin Council), based on the Synthetix governance framework. Synths comply with the ERC-20 standard, which means they are compatible with an enormous number of protocols. They will. For more updated information, monitor Synthetix governance votes and the SIP/SCCP repo. Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. I have read and understood that becoming a delegate is a significant commitment: Yes. 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,. Protocol Governance. 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. Quick Start. It has two primary functions: (a) Staking and (b) Governance. Label all the bodies in which the internal stakeholders nominate as a Committee. Market Development Guide. Here is what the supply of active SNX rewards to SNX stakers looks like currently: SNX supply curve: Messari. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Link to Synthetix Discord Dune AnalyticsFinally, governance can be used to create incentives to mint and sell mAssets, helping to fix broken price pegs. Governance Framework The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. Powering the next.