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…
SNX Debt Jubilee Update and sUSD Staking Opportunity
**Important deadline approaching for SNX stakers:** - Debt jubilee resets and pauses in 10 days - Requirement: 10% of debt balance must be in sUSD 420 pool - Current staking rewards for sUSD exceed 100% APY Stakers who fail to meet the requirement will face debt position reset. This affects all debt positions not meeting the 10% threshold in the 420 pool. *Time-sensitive action required for affected stakers*
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.
Synthetix Launches Multi-collateral Perps with tBTC Support
Synthetix has launched Multi-collateral Perpetuals on Kwenta (Arbitrum network) with tBTC as the primary Bitcoin collateral option. Key features: - 81 new perpetual markets added - 4 collateral options including tBTC, ETH, USDe, and USDx - tBTC integration offers 1:1 BTC backing with permissionless minting - No KYC required for Bitcoin bridging Limited-time incentives: - Reduced taker fees (5 bps) for 2 weeks - 20% of trading fees distributed to LPs for 1 month - Kwenta points program active for traders Trading now live at kwenta.io
Synthetix Reboot Approved by Community Vote
Synthetix's SR-2 proposal has passed with 99.94% approval, initiating a significant reboot of the protocol. Key changes include: - SNX token redesign - Operationalized SNAX Chain - Restarting Synth Teleporters development - Increased focus on business development and marketing - Perps V3 expansion and V2X deprecation - V3 Perp multichain proliferation Governance will shift to a single 7-member Spartan Council, replacing the previous three-council structure. New core working groups will be formed, and a foundation will be established to handle legal and operational matters. These changes aim to make Synthetix more efficient, aligned, and focused for both short and long-term goals.