October 23, 2024
The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors from last week.
👉TLDR
The referendum is complete and the new Spartan Council has taken over votingWeekly calls will resume this week starting todaySynthetix just introduced 50+ new markets on Perps V3 — the total number of markets on Base is now over 80SNX is now supported on IonicAmbassador role is still undecided, but MasterMojo is continuing to update the Synthetix community on the surrounding ecosystemSIP-409 to add GHO (stataGHO) as a new collateral type has passedFollow us on Twitter @snx_weave to keep up to date with Synthetix as the referendum takes effect!
Spartan Council and SIP updates
While meetings have not yet resumed for the Spartan Council, we still wanted to give the community an update on what’s happening at Synthetix right now. The referendum is complete and the new Spartan Council has taken over voting! The Treasury and Ambassador Council assets and wallets are in the process of being handed over, and the governance site and docs have been updated with the new Spartan Council.
As the referendum continues to take effect, weekly calls will resume this week starting today in the governance-stage. The new structure is working well so far, and the team is rallying around creating a long-term roadmap for Synthetix. SNXweave will be covering these crucial first few weeks closely, which will be packed with significant improvements, launches, integrations, and announcements.
In the meantime, Synthetix just introduced 50+ new markets on Perps V3, bringing the total number of markets on Base to over 80. The new pairs on Base include many of the most popular assets like $POPCAT, $MEW, $EIGEN, $ZRO, $SATS, $IO, $POL, $WLD, and more. All 80+ assets available on Base will be immediately tradable on Arbitrum when Synthetix launches Multi-collateral Perps with Kwenta. But for now, check out these new markets on Kwenta and read the full list of what’s to come in the SCCP.
Next, SNX is now supported on Ionic! Ionic continues to expand on OP Mainnet, and they just announced $ION emissions for $SNX. Holders of $SNX can now leverage their holdings, receive emissions, and prepare for veION Flywheel. In short, this means you can supply and borrow $SNX on Ionic, get emissions on your supplies (currently 79000%), and use these emissions to LP into VelodromeFi for an additional 143%. DeFi composability at your fingertips!
The future of the Ambassador role is still undecided, but MasterMojo is continuing to update the Synthetix community on the surrounding ecosystem. He shared the results of Round 5 of Optimism’s Retroactive funding, which rewarded 8 million OP to developers contributing to the success of the OP Stack and Ethereum, who keep the technology behind the protocol secure and vibrant. Check out this tweet with a full breakdown of the results.
Next, SIP-409 to add GHO (stataGHO) as a new collateral type has passed. This was proposed by Matthew Graham, the founder of Token Logic, which provides non-custodial asset management, analytics and growth services to DAOs and DeFi users. In short, this SIP will add stataGHO to the Spartan Council Pool on Synthetix V3 on Arbitrum, enabling users to earn lending fees from Aave and trading rewards from Synthetix Perps.
The use of stataTokens mitigates concerns associated with the rebasing nature of aTokens, facilitating a smoother integration with Synthetix. Adding stataGHO as Arbitrum LP collateral will also provide Synthetix LPs with yield-generating collateral, enhance liquidity, and boost scaling capabilities of Synthetix V3 and Perps on Arbitrum.
Lastly, if you’re not already, follow us on Twitter @snx_weave to keep up to date with Synthetix as the referendum takes effect. The first meeting with the new Spartan Council will take place today, as previously mentioned, so stay tuned!
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Conclusion
As we wrap up this update from the Spartan Council and Synthetix community, it’s clear that exciting developments are on the horizon. With the new Spartan Council in place, the future of Synthetix looks promising as they continue to innovate and expand their offerings. Stay tuned for more updates and announcements on the progress of Synthetix as they navigate through this transitional period.
If you’re hungry for more news in the DeFi space, be sure to check out the latest articles on DeFi Daily News for trending stories and insights that go beyond the surface level. Keep yourself informed and engaged in the rapidly evolving world of decentralized finance!
