Name of protocol representative (s) that will serve as delegate (s): Rev Miller, CJ Hetherington. Synthetix Governance. Docs. Docs. The V3 Watcher Stats page is also officially complete, so check that out for all of your stats needs!Synthetix price today is $ 3. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. Blog. Sep 19, 2023 • 1 min read. All of the councils are elected by Synthetix Stakers. GMX. The Synthetix governance framework also saw continued evolution last month. Meta-Governance: Network: Ethereum & Optimism: Implementor: TBC: Release: TBD: Created: 2022-08-25:. Has eight members. SNXweave Weekly Recap September 24, 2021 - Blog - Podcast Synthetix Community Governance Call Come join us at 9pm UTC… synthetixweekly. Protocol name: QiDao Protocol Name of protocol representative(s) that will serve as delegate(s): Benjamin. Perps. Stats. Governance Framework The Synthetix Protocol has several governing bodies and artifacts which co-exist to enable the decentralized nature of the protocol. Garth Travers. Prototype V3 keeper using the Synthetix Python SDK. Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. Staking App. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Synthetix is one of the oldest DeFi projects out there that has a decentralized governance structure through the SynthetixDAO. Per SCCP-304, the spot market system has deployed a synthetic ETH token by creating a market for it. This post addresses the issues and how we can resolve them. SYNTHETIX GOVERNANCE. Synths comply with the ERC-20 standard, which means they are compatible with an enormous number of. Aave, Compound,. Staking App. Stats. Powering the next. 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. “Inflation was intended to bootstrap the network, it has done this extremely. Protocol Governance. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. Governing Bodies The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. Stats. Aave, Compound, Uniswap, etc. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. 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. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. SYNTHETIX GOVERNANCE. Address or. Powering the next. dollar) and crypto assets (like Bitcoin ). 4% discount to its all-time high. Last modified. Governance. By integrating with decentralized oracle networks, it allows users to receive a loan of stablecoins against. Chain Breakdown; Ethereum: $439. Millie: The proposal says only if there is a protocol governance upgrade that renders it. These councils’ Decisions. 9 million was raised when Synthetix sold SNX tokens to Framework Ventures. 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 ArcHadar release - Late March 2020. 9 million was raised when Synthetix sold SNX tokens to Framework Ventures. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Stats. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Inflation was introduced in march 2019 in order to help bootstrap the network, following the pivot from Havven to Synthetix. I don’t have any direct experience but it looks intriguing. Another Spotify podcast, Synthetix Discussions, includes longer form discussion about SIPs and Community Governance calls. [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. Contribute to Synthetixio/SIPs development by creating an account on GitHub. It serves as a reminder that sometimes you might reduce complexity by just using a multisig instead of a full-fledged Governor-like contract. 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. Current Target C-Ratio: 400% For more updated information, monitor Synthetix governance votes and the SIP/SCCP repo. The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. This allows users to confidently trade and access synthetic assets without the. For Developers. Docs. Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. Stats. 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 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. Staking App. Governance. The key decentralized councils and DAOs are the - Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Powering the next. [1] Synthetic. Synthetix governance decides this collateralization requirement, but it generally stays between 300% and 500%. The Lyra Protocol integrates with GMX on Arbitrum to delta hedge its vaults with GMX perps. 👉Q3 Highlights. Synthetix Governance. This doc includes minting probability estimates for different attributes. In 2019, an additional $3. Optimism Collective Delegate Commitments [OLD] 📌 Policies and Templates. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Synthetix V3 features a generalized collateral vault system that is agnostic to collateral types. This post is going to take a different approach. Treasury Council. 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. csv. These markets have been in close-only mode for 3 months, but there are still some positions that haven’t been closed. ⭐ Grants Council: Dune Analytics Grants & Wrapper UI (ongoing). Last week the first Treasury Council was elected alongside the other DAO’s within the Synthetix governance system. 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 new module will reportedly make it easier for the network to make governance decisions with. Spartan Council. Learn more. Perps. Synthetix. Synthetix Governance Find links to each core component of the Synthetix Governance System. I don’t have any direct experience but it looks intriguing. For all their commitment to the crypto cause. These markets were approved by governance in SIP 2032 and had initial configurable values set by SCCP-2042. Synthetix. 0. 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). For this reason, we will strongly encourage people claiming OP in Airdrop #1. Staking App. This program will temporarily delegate a portion of idle OP from the Governance Fund to a group of value-aligned protocols. 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. 03%. Quarterly Report for Synthetix, Quarter 2 of 2022: April — June. PAX gold comes to mind, given that it is a cryptocurrency backed by gold. 00%. The Liquidity Layer of DeFi. Technical Architecture. Synthetix is a token trading platform built on Ethereum. Base Andromeda. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). These are just a few of the investors who have invested in our past accelerator projects. The Aelin project helps individuals (sponsors) and protocols to raise capital from their communities via two primary methods. 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. Governance. Do you agree to abide by the delegate code of conduct:. Governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Stats. Synthetix is run as a DAO (see page 34), and Kain remains the largest holder of Synthetix governance tokens, which currently fetch about $10. My previous post was a long-form exploration of the future of Synthetix. Grants Council. Quarterly Report for Synthetix, Quarter 3 of 2023: July — September. Docs. My reasons for wanting to be. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. 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. 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. What is Synthetix? Synthetix is a derivatives liquidity protocol on Ethereum. 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. With mature on-chain representative governance in place, we're empowering an entire ecosystem that operates with resilience and censorship resistance. The Liquidity Layer of DeFi. Kain has been in and around crypto since 2014 when founded the payment gateway Blueshyft, helping to. This SIP proposes to establish a clear inclusion criteria for a Core Contributor to be added as a signer to the protocolDAO. Elections. 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. Governance The protocol is governed by the Spartan Council. Quick Start. 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. Let’s start with the highlights, shall we? Q2 Highlights. Introduction. Click here to view original web page at blog. 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. 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. But even when inflation was. 1%. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards. 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. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. It enables the creation of synthetic assets (Synths) by staking SNX, and these Synths can be traded for each other directly with the. Each of the councils at Synthetix serves a different and vital role in running the Synthetix protocol. Aug 14, 2023 4 min read. Councils are directly elected by SNX stakers, while other governance bodies are appointed according to the existing governance procedures. Blog. Synthetix price today is $ 3. Synthetix is a software that allows users to mint new crypto assets that mimic both real-world assets (like the U. Maker Stability Module, inspired by Aave and Synthetix - Governance - MakerDAO. Staking App. Governance-approved SCCPs can make these markets available for trading on frontends @Kwenta_io & @DecentrexHQ in the coming days. The proposal sets an initial fee share at 50% for LPs and 50% for SNX stakers (via a buyback and burn mechanism on Base). Perps V3 Keeper. 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. Each governance component is assigned a specific aspect of protocol governance. For Developers. One of an emerging number of decentralized finance ( DeFi) cryptocurrencies, Synthetix enables this service through code alone, without the need for a financial intermediary. Elections. Underneath, USDC is wrapped and or traded into sUSDC for LP collateral (and collecting fees), and sUSD as perp margin. Governance. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. These markets were approved by governance in SIP 2032 and had initial configurable values set by. Perps. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Stats. Staking FAQIntroduction Decentralized governance has been a long-discussed topic – it aims at helping to prevent corruption, empowering a community to have | Bitget crypto news!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. Protocol Governance. They then used the Ether as collateral to borrow 1. Market Development Guide. This guide has been updated as of 7/28/22. 5 million USDC on decentralized exchange, Kyber, exerting downward pressure on the price of SNX. 7: Fully Diluted Valuation. The Spartan council is at the center of the Synthetix governance. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. V3 Spot Market - The first expected market on V3 is spot markets. Each item category is listed in order of the community’s preferences, as well as item level preferences. 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. Staking App. The liquidated collateral is seized from all of the liquidity positions in the vault pro-rata. 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. 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. Powering the next. Powering the next. Gating off incentives for just Synthetix, or using this governance power for only SNX Ecosystem projects or the like would’ve been an incredibly poor idea. Synthetix is a derivatives liquidity. 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. 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. V3Yuga Labs of Bored Apes fame drifts away from OpenSea over royalty policyNext - For Derivatives Market Builders. There is still time to vote if you haven't yet. These markets were approved by governance in SIP 2031 and had initial configurable values set by SCCP-2044. View the history of past council elections and vote in any currently open elections. 208b: SNX Price. Governance. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. 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. Elections and Voting. Synthetix operates under the governance of four key bodies: Spartan Council, Treasury Council, Ambassador Council, and Grants Council. g. Firstly, there are exchange rewards. sender is equal to Synthetix Core address. Docs. Synthetix Stakers are assigned a. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Blog. Perps V3. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. 125: Create synths for top traded US stock index etfs: FinanceGuy82415. Wallet. This post will highlight the changes so far and the areas of focus for 2020. 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 assets. The key decentralized councils and DAOs are the - Spartan Council, Treasury Council, Ambassador Council, and Grants Council. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. For one, Synthetix incorporates six different DAOs designed to play specified governance roles within the Synthethix ecosystem. Staked SNX enables. Blog. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). Blog. 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. Synthetix Governance DAO is responsible for the governance of Synthetix, a platform that enables the creation and trading of synthetic assets. An open source software foundation is a not-for-profit entity established to oversee and manage an open source software project. 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. 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. 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. Powering the next. 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. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. For Developers. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. This proposal aims to simplify the meta-governance processes of the Synthetix Governance System and addresses current meta-governance edge-cases and frictions. I have read and understood that becoming a delegate is a significant commitment: Yes. Synthetix Governance DAO. It further suggests deploying Andromeda to Optimism and Arbitrum, and deploying Carina (ETH-only backed Perps) to Ethereum. Synthetix Governance. 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. Powering the next. 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. Synthetix was originally governed by the Synthetix Foundation, a not-for. 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. The presentation of SIP-179 is also discussed, as well as upcoming election coverage from SNXweave. The full configuration of Base Goerli can be seen on. Blog. Synthetix Governance. The poolId and collateralType parameters specify the vault to liquidate. Kain said that the control of Infinex would be relegated to a mode of decentralized governance. Blog. The Liquidity Layer of DeFi. Developer FAQ. Governance. 12% went to the Synthetix Foundation (later transitioned into DAOs). Multi-collateral staking will increase sUSD liquidity and the markets supported by Synthetix. Governance. ) for. All. Sandbox with Perps. Label all the bodies in which the internal stakeholders nominate as a Committee. Welcome back to the 8th edition of Menya Digest! This week saw a barrage of newsflow. System Staking 69. Wide Variety of Assets Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Synthetix Governance: A representative council system that governs Synthetix. Staking App. Firstly, there is the Aelin Direct Deals, a terrific choice for sponsors or protocols looking to raise. Protocol Governance. FOR PERP INTEGRATORS. Protocol Governance. In addition to its governance model, the Synthetix DAO also includes a risk management system known as the “debt ceiling”. Synthetix Governance Find links to each core component of the Synthetix Governance System Join the community governance discussion in realtime. October 19, 2021. Protocol name: Atlantis World. V3. 58M, and market dominance of 0. The beauty of the dev fund is that theoretically it can self-fund all the things you talked about. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Synthetix Governance Find links to each core component of the Synthetix Governance System. 15 protocols qualify to participate based on total gas fees generated on Optimism in Season 2. MattL October 17, 2022, 7:38pm #1. Additionally, data feeds from Pyth and Chainlink are necessary for any proposed assets to be considered for inclusion. The Synthetix Revolution SNX Deep DiveGovernance. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. Request some of the existing $500m+ Synthetix collateral for your market. 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. Configuration. The epoch will. The Synthetix governance structure is composed of Councils, Committees, Core Contributors, and a DAO. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. 00. Powering the next. Base Andromeda. Shorting ( SIP-135) and Futures ( SIP-80) will follow soon. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. SNX’s initial supply of 100,000,000 tokens was released in 2018. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. SNX Balance 0. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. Today, February 6th, the Eltanin release will begin. We know the DAO decided to implement the Pyth Oracle. 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. Integrators are rewarded for driving volume through Synthetix Perps. The Liquidity Layer of DeFi. Initially, Aelin v1 will be governed by the Aelin Council, a DAO which will be voted on by SNX stakers. sUSD borrowing via SNX would also be enabled as part of Project Draco. ) to a committee of ambassadors focused on furthering. 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. c-ratio. 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. Nominations for the Synthetix Councils' (Spartan, Grants, Treasury, and Ambassador Council) next epoch will open on Thursday, August 17th. 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. Powering the next. The next Synthetix community governance call is scheduled for Tuesday Sep 27th at 8pm UTC (9/27 afternoon/evening for western hemisphere; 9/28 morning for eastern hemisphere), and we’d love for you to join us!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…The Protocol Delegation Program was approved in Special Voting Cycle #9b. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Quick Start. We’ve made progress, but there is still much to do. Governing Bodies The Synthetix Protocol is governed by four bodies, each responsible for a core aspect of a DAO. 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. Show topics: what Optimism and Synthetix are how zero-knowledge rollups differ. The first to speak on this topic was @OPUser when @tongnk , of Perpetual Protocol, self-delegated the 9M OP tokens he had received in Phase 1. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. 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 DAO. JoinSynthetix is a token trading platform built on Ethereum. 58M, and market dominance of 0. However, the two versions of the Synthetix network running on L1 and L2 remain. Perps. to a Spartan Council member on discord by searching members with the "Spartan Council" role or finding them within the #governance channel. 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. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. Perps. SNX is the native token of the Synthetix Network and has two main functions: staking and governance. We already saw it with Perpetual Protocol and with the case of Synthetix, who even now. Synthetix started out as a stablecoin, before pivoting to DeFi. Which is called The Spartan Council. 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. Protocol Information. Governance. Understanding the Governance process Since the Synthetix Foundation transitioned control to the community in July 2020 , changes to the protocol have been proposed and voted on by community members along with the. Synthetix is excited to announce the addition of ZRX & UMA perpetual futures markets, now available for leverage trading via Synthetix Perps. The Liquidity Layer of DeFi. Synthetix Governance. For security reasons, the payout function should always revert unless msg. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. The Liquidity Layer of DeFi.