Synthetix Reboot Voting Reaches Quorum
Synthetix Reboot Voting Reaches Quorum
🗳️ Synthetix vote: What's next?
The Synthetix Reboot referendum has achieved quorum, marking a significant milestone in the governance process. This vote follows a series of important events:
- A referendum proposing changes to the DAO structure was introduced on September 25th
- New council members were elected on September 17th
- Voting for council members took place from September 11th to 16th
- The election process introduced SNAXchain, Synthetix's new app chain
Current status:
- Quorum reached on October 4th
- Voting remains open for community participation
Next steps:
- Review current results
- Cast your vote if you haven't already
Visit the governance portal to participate in shaping Synthetix's future.
A referendum has been proposed for Synthetix governance by Fenway, highlighting a number of changes to the current DAO structure, operations, and recommendations for SNX moving forward. 📲Join our Discord to discuss and register for the upcoming townhall: discord.gg/synthetix?even…
The Synthetix DAO election results are in 🗳 As SNX prepares for a new chapter of progress and major launches, it’s time to welcome your new councilors who will lead the initiatives that shape the future of our ecosystem.
Voting for the referendum has begun 🗳 Cast your vote here ⬇️ gov.synthetix.io/#/proposal/0x1…
It’s time to cast your vote for the Synthetix governance council members ⚔️ Voting will conclude on September 16th Links and details below 👇
It's time for a new election epoch for Synthetix Governance. But this one comes with a twist - nominations are now live on SNAXchain, the phase 1 version of Synthetix's new app chain built on the @Optimism superchain.
Quorum has been achieved ✅ See the current results and cast your vote for the Synthetix Reboot ⬇️ gov.synthetix.io/?ref=blog.synt…
**Degen Spartan Returns** for $1M Synthetix Trading Competition
**Degen Spartan officially ends retirement** to compete in Synthetix's mainnet trading competition. The legendary trader will face **99 other competitors** for a chance at the **$1,000,000 prize pool**. - Competition launches **October 20** - Features synthetic asset trading on mainnet - Spartan previously transitioned to pump.fun streaming This marks a significant return for one of crypto's most recognizable trading personalities.
Chinese CT Trader Joins $1M Synthetix Competition
**Synthetix reveals another competitor** for their upcoming mainnet trading competition with a **$1,000,000 top prize**. A prominent figure from the **Chinese crypto Twitter community** has secured one of the 100 spots in the high-stakes trading battle. The competition structure includes: - **50 invite-only spots** for top traders - **35 spots for pre-depositors** into sUSD/sUSDe vaults - **15 spots for Kwenta point holders** This follows previous announcements of a **semi-retired trading legend** turned pump.fun streamer also joining the competition. The event will **battle-test the first perp DEX on Ethereum**, with pre-deposit winners selected October 13th at 00:00 UTC. [Pre-deposit here](https://predeposit.synthetix.io/)
Synthetix Mainnet Multi-Collateral Margin Launch
**Synthetix Mainnet** is launching multi-collateral margin trading, allowing users to deposit portfolios of assets as collateral while keeping them productive. **Three supported collateral types:** - **sUSDe** - Ethena's yield-bearing synthetic USD stablecoin - **wstETH** - Lido's liquid staked ETH - **cbBTC** - Coinbase's Wrapped Bitcoin **Key benefits:** - Trade without selling underlying assets - Retain upside potential and yield generation - Improved capital efficiency - Lower capital gains implications The architecture supports any ERC-20 token with sufficient Ethereum liquidity, opening opportunities for partnerships with core Ethereum protocols and positioning Synthetix perps as a critical tool in the ETH ecosystem. Read more: [Multi-Collateral Margin Blog](https://blog.synthetix.io/multi-collateral-margin-on-synthetix-mainnet/)
Synthetix Liquidations Resume - 420 Pool Migration Update
Synthetix is re-enabling liquidations for existing stakers following the 420 Pool migration launch. Key updates: - Stakers with c-ratio below 160% are now at risk of liquidation - The 420 Pool offers complete debt forgiveness for migrators - Over 100m SNX already deposited in first day - New features include: * No liquidation risk * Protocol-managed sUSD liquidity * SNX-backed yield generation * Partnership with Ethena Labs for USDe minting Non-stakers will soon be able to participate with new incentives. A cross-chain Swap & Stake feature is coming to support deposits from multiple EVM chains. [Migrate to 420 Pool](https://420.synthetix.io/) [Read Documentation](https://docs.synthetix.io/welcome-to-synthetix-user-docs/snx-staking/deposit-snx-to-the-420-pool)
Synthetix Launches Redesigned Website with Enhanced Features
Synthetix has unveiled a comprehensive website redesign that consolidates its product ecosystem into a single hub at synthetix.io. Key updates include: - Access to 90+ Perps markets - Expanded liquidity opportunities - New leveraged tokens for 10+ assets The enhanced stats page now displays: - Real-time APRs and fees data - Liquidity rewards metrics - Perps volume analytics - SNX token performance The governance structure aligns with Vision 2025, featuring the Spartan Council with 6-month election terms and a 4/7 approval threshold. Visit synthetix.io to explore the new interface.