Decisions and proposals. Docs. Staking. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Blog. Each governance component is assigned a specific aspect of protocol governance. Synthetix is excited to announce the addition of stETH/ETH perpetual futures markets, now available for leverage trading via Synthetix Perps. Synthetix was originally overseen by a non-profit foundation in Australia. Synthetix started out as a stablecoin, before pivoting to DeFi. Docs. For all their commitment to the crypto cause. You can trade Synths — which. We share a similar vision with Optimism Foundation that the next billion users will experience all of web3 on L2s, and have been working to solve one of the key pieces to enable this vision by collaborating with the top Optimism apps including Synthetix, Lyra, Polynomial, Premia among others. Sandbox with Perps. Name. The minted sUSD can be used within the Synthetix ecosystem or traded on other platforms. 87M, market cap of $ 395. Governance. 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. Powering the next. This section of the SIP proposes to: Label the collective governing collectively bodies as the Synthetix DAO. 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. [00:22:25] The difference between the Synthetix DAO governance and typical corporate governance is that the people who are operating a company or a corporation. 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. [1] Connect wallet. Multi-collateral staking will increase sUSD liquidity and the markets supported by Synthetix. The protocol and ecosystem is more broadly. This allows users to confidently trade and access synthetic assets without the. It is expected that the ambassadorsDAO will follow suit in the near future. Besides governance, Synthetix also has to contend with increasing regulatory scrutiny of a core part of its offering—tokenized stocks. 👉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. Perps. 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 . Stats. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against collateral on-chain. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. The SNX price decreased-3. The only user interfaces maintained by Synthetix DAO are the governance and staking interfaces herein. 125: Create synths for top traded US stock index etfs: FinanceGuy82415. Link to Synthetix Discord Dune AnalyticsFinally, governance can be used to create incentives to mint and sell mAssets, helping to fix broken price pegs. What makes Synthetix unique is the robust nature of its governance system. Synthetix Stakers are assigned a. 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. 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. 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. Base Andromeda. Docs. All supported markets benefit from deep liquidity and low fees, thanks to the use of fully decentralized off-chain oracles and Synthetix liquidity. However, since then, the TVL has risen to $800 million at the time of writing, and the price of. Powering the next. Blog. GitHub. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against collateral on-chain. 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. Synthetix is an open source derivatives liquidity protocol on Ethereum. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. 5% went to partners. Blog. The Synthetix Improvement Proposal repository. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Docs. Blog. The Liquidity Layer of DeFi. Synthetix Governance: A representative council system that governs Synthetix. Perps V3. Staking App. With the rise of DeFi, a new form of governance has emerged specifically designed for decentralized systems. Current Protocol Parameters. g. Synthetix Governance. Introduction. Staking App. Stats. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Another Spotify podcast, Synthetix Discussions, includes longer form discussion about SIPs and Community Governance calls. SYNTHETIX FORUM View the voting history of all governance proposals. 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. 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. g. Docs. Stats. It'll help to usher in a period of mass innovation throughout the world of onchain derivatives and financial instruments. Docs. With mature on-chain representative governance in place, we're empowering an entire ecosystem that operates with resilience and censorship resistance. We already saw it with Perpetual Protocol and with the case of Synthetix, who even now. Kwenta is a trading interface for perpetuals and options that integrates with Synthetix and Lyra Protocol. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. Uniswap announces vision for v4 (read more here)The Synthetix Improvement Proposal repository. Prototype V3 keeper using the Synthetix Python SDK. Spartan Council. Base Andromeda. substack. Synthetix is the backbone for derivatives trading in DeFi, allowing anyone, anywhere to gain on-chain exposure to a vast range of assets. 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 is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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). Project Draco will be under development, with a plan to migrate all governance functions to the Synthetix Appchain in 2024. However, in support of decentralization, the administration of the protocol was shifted and split between four governing councils, Spartan, Grants, Ambassador, and Treasury. 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 will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. <!--You can leave these HTML comments in your merged SIP and delete the visible duplicate text guiThe Synthetix Improvement Proposal repository. Aave, Compound, Uniswap, etc. 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. But the fact that it. The epoch will. 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. 3% went to bounties and marketing incentives. Protocol Governance. The Liquidity Layer of DeFi. January 18, 2022 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week. Perps V3. Stats. Blog. The Liquidity Layer of DeFi. Voting with a Gnosis SafeA JavaScript-based, open source Discord bot to facilitate better #governance-poll experience. Back in June, the DeFi protocol received 9M OP tokens during Phase 0 of Optimism’s Governance Fund. 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. Easy to. Protocol Information. Synthetix Governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Docs. Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. 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 Liquidity Layer of DeFi. Current Voting Results. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. Nov 8, 2023 • 3 min read Introduction Vaults are a fundamental component of the Synthetix V3 ecosystem, serving as the primary entry point for liquidity providers. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. 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. Quarterly Report for Synthetix, Quarter 2 of 2023: April — June. 1 day ago · Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. All of the councils are elected by Synthetix Stakers. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. SNX Stakers earn weekly rewards for collateralizing the. 1 PAX token is equal to one ounce of fine troy gold. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. The trading of stocks, currencies, commodities, and other assets are still dominated by the likes of Wall Street, London. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. . Synthetix is a software that allows users to mint new crypto assets that mimic both real-world assets (like the U. Please list any anticipated conflicts of interest: NoneThe Protocol Delegation Program was approved in Special Voting Cycle #9b. Synthetix Governance. blog. Stats. These are generated whenever someone makes an exchange within the Synthetix system. All. While Synthetix's governance initially fell under a non-profit foundation, this structure dissolved in 2020. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. 0. Name: Mirror Address or ENS: protocol. Build on v3. 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. Governance. According to the update, the latest development involves the rollout of the new Synthetix V3 governance module. 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). Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. FOR PERP INTEGRATORS - Previous. . Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Docs. 👉Q3 Highlights. 3% went to bounties and marketing incentives. David_Heisenberg May 18, 2023, 1:17am 189. Synthetix Governance DAO. Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. Docs. If this SIP is approved and adopted, the following will be implemented:💡Staking variables change regularly based on governance action. Elections. Synthetix Governance. 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. 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. Governance. Staking App. Blog. Synthetix started out as a stablecoin, before pivoting to DeFi. Votes. The liquidated collateral is seized from all of the liquidity positions in the vault pro-rata. Staking App. Synthetix governance decides this collateralization requirement, but it generally stays between 300% and 500%. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. 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. Councils are directly elected by SNX stakers, while other governance bodies are appointed according to the existing governance procedures. Synthetix. On Compound, for example, lenders and borrowers receive the native COMP token, which accrues according to usage of the. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Governance. 19 to $1. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The Synthetix governance structure is composed of Councils, Committees, Core Contributors, and a DAO. The Liquidity Layer of DeFi. The Aelin project helps individuals (sponsors) and protocols to raise capital from their communities via two primary methods. Meta-Governance Processes; Defining the different types of governing bodies Overview. Powering the next. Design best practices for teams building on Synthetix V3. Governance. Synthetix Governance Find links to each core component of. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. 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. There will be no downtime during the release. Sep 19, 2023 • 1 min read. It serves as a reminder that sometimes you might reduce complexity by just using a multisig instead of a full-fledged Governor-like contract. 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. Label all the bodies in which the internal stakeholders nominate as a Committee. We would like to ensure that there is advanced notice of this delegation because of anticipated community feedback. SYNTHETIX GOVERNANCE. Docs. In Governance Update #2 , foundation gave a clear instruction that self-dealing is not expected. Developer FAQ. Synthetix is a protocol for the issuance of synthetic assets that tracks and provides. Synths are nothing but on-chain synthetic assets that one can trade on a DeFi platform but whose value tracks the value. This doc includes minting probability estimates for different attributes. The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Synthetix is an Ethereum-based protocol for issuing synthetic assets. 5 Likes. Perps V3 Keeper. Quick Start. Governance. Docs. 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. The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world assets. Powering the next. Link to delegate commitment 9: Delegate Commitments - #162 by revmiller. Elections. They then used the Ether as collateral to borrow 1. Sandbox with Perps. View the history of past council elections and vote in any currently open elections. Please register to be a delegate at Participating in Token House governance will require a serious time commitment. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Over time, Synthetix Governance will determine which assets to support as collateral in addition to the current SNX (staking) and ETH (wrappers). The new version will have a modular mechanism supporting multi-collateral staking, customizable debt positions, and permissionless synths. Stats. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Perps. Treasury Council. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Elections and Voting. VIEW ALL COUNCIL MEMBERS. What we can say is that there is no opaque centralised body the Synthetix network relies on to “guard” the Synthetix protocol. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. Synthetix and DYDX's funding rates are 0. The Synthetix Network token (SNX) incentivizes coordination and growth within the Synthetix Network. 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. JoinSynthetix is a token trading platform built on Ethereum. And so in Synthetix you have a quasi board, right. 9 million was raised when Synthetix sold SNX tokens to Framework Ventures. Synthetix governance was faced with a very challenging decision. This business structure created as a result is called a Decentralised Autonomous. The epoch will last four months, starting August 30th. This epoch will run for three months as per SCCP-78, and there are now 22 community. Docs. Contribute to Synthetixio/SIPs development by creating an account on GitHub. 12% went to the Synthetix Foundation (later transitioned into DAOs). Powering the next. Votes. You can see the list of top protocols based on gas. 🏛 Governance. Perps. Binance. For example, transferring Ether simply requires 21000 gas. Perps. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Firstly, there are exchange rewards. They will. Stats. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Powering the next. 38m . Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. 63, while Synthetix's lowest price was recorded on Jan 5, 2019 when it. 0) to a decentralised and flat structured entity (Web3. Synthetix Governance - Election Module . Staking App. 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. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Staking App. Connect wallet. If you haven't already, join the Kwenta community on Discord. Protocol Governance. So the tokenomic leverage of this mechanism in the protocol is between 3 and 5, depending on the current collateral requirement. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Pool: sUSD Liquidity Guage SCURVE. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. The current Synthetix Governing Bodies are: Spartan Council; grantsDAO;. 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). [1] Synthetic. 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. Elections. Powering the next. Elections and Voting. Abstract. Base Andromeda. Each governance component is assigned a specific aspect of. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The current Synthetix Governance signaling process is non-sybil resistant, easy to contest, and not a good indicator of community participation and sentiment. Revenue Share. ) for. I don’t have any direct experience but it looks intriguing. Blog. Market Development Guide. Synthetix Governance. Aelin is a new protocol and will have its own token, community, and governance system. synthetix. Both asset baskets were selected through community governance. V3GM: “The new Synthetix governance module, aka, thanks for nothing Aragon“ Regarding Synthetix V2x, he said: “Right now the goal of my life is to shut down development on V2x so we can focus on V3, I have been unsuccessfully spearheading this initiative since mid-2021. 7: Fully Diluted Valuation. For Governance Participants. The ElectionModule is a part of the V3GM release; it is the first release of the governance modules. These councils’ Decisions and proposals are subject to majority votes from SNX stakers, ensuring a democratic and community-driven approach to protocol development. 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. Decisions and proposals put forth by these councils are. Governance. Synthetix. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. Lastly, JVK has been working on a document to guide the dev who is working on the mint for the NFT project. Stats. Has eight members. V3. 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,. Messari’s recent update takes a look at what Synthetix has been up to. Expected. use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. SYNTHETIX GOVERNANCE. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. They are elected by those providing SNX tokens to the protocol. FOR PERP INTEGRATORS. One of an emerging number of decentralized finance ( DeFi) cryptocurrencies, Synthetix enables this service through code alone, without the need for a financial intermediary. 002908%, respectively (note: funding rates fluctuate, this isn't current). We’ve made progress, but. Blog. “The changes above mark a phase shift in Synthetix governance,” the post said. 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. 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. Kain said that the control of Infinex would be relegated to a mode of decentralized governance. 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. Created: December 24th, 2022. Governance. The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week…Crypto News Cast For May 21st 2022 ? Crypto News Cast 📮 21-05-2022 News Source Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter. These markets were approved by governance in SIP 2032 and had initial configurable values set by. The Liquidity Layer of DeFi. What is Synthetix? Synthetix is a derivatives liquidity protocol on Ethereum. 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. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Perps. The key decentralized. Governing Bodies The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Spartan Council members vote on Synthetix Improvement Proposals (SIP) and Synthetix Configuration Change Proposal (SCCP). 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. Governance. Quarterly Report for Synthetix, Quarter 2 of 2022: April — June. David_Heisenberg May 18, 2023, 1:17am 189. Current Target C-Ratio: 400% For more updated information, monitor Synthetix governance votes and the SIP/SCCP repo. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. Synthetix is a derivatives liquidity. Quick Start. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. Contribute to Synthetixio/SIPs development by creating an account on GitHub. 7 Likes. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. FOR PERP INTEGRATORS. It is a value-based entity, whose. Propose to Synthetix governance for your Market to be enabled. 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. Sandbox with Perps. While we progress these releases, the community must debate and discuss the remaining items on the roadmap, as well as any unplanned priorities, in order to crystallise later releases. Synthetix is a synthetic asset protocol on Ethereum. This is the benefit of the Synthetix system - you can gather liquidity yourself and work through governance to gather liquidity for. JoinThe Synthetix Ambassadors program provides a simple way for SNX holders to delegate their governance voting rights in other protocols (e. Synthetix Governance Elections is ongoing, with nominations and voting to close by August 30th. We know the DAO decided to implement the Pyth Oracle. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. 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. sender is equal to Synthetix Core address. It was one of the last remaining areas of centralisation and this transition marks the end of. Synthetix V3 is currently in alpha. There are FOUR instances of the ElectionModule Proxy - each representing one of the council bodies (spartan council, ambassador council, treasury council, grants council). The Synthetix governance framework also saw continued evolution last month. 1%. Docs. Start trading in minutes. Stats. Once the collateral is deposited, users can mint sUSD up to the collateralization ratio set by the governance. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards. Stats. 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. For Developers. 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. The Synthetix Ambassadors will soon receive a delegation of 2m OP tokens (Optimism governance power) from the SNX Treasury Council.