use this example (coming) this step goes away once permissionless Markets are enabled by Spartan Council governance. . The Synthetix protocol allows traders to issue synthetic versions of crypto native assets, traditional financial 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 provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Protocol Governance. Docs. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Sandbox with Perps. Governance. Analogous to derivatives in legacy finance, synthetic assets are financial instruments in the form of ERC-20 smart contracts known as “Synths,” which track and provide the returns of another asset without requiring you to hold that asset. Both asset baskets were selected through community governance. All markets must be approved by Synthetix Governance through a SIP and a subsequent SCCP to configure variables. Synthetix is excited to announce the addition of ZRX & UMA perpetual futures markets, now available for leverage trading via Synthetix Perps. 1m: Market Cap. The epoch will last four months, starting August 30th. The Liquidity Layer of DeFi. It allows to creation of real world assets, like stocks and shares to be bought and traded using crypto. Asset: SNX. Staking App. Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. All supported markets benefit from deep liquidity and low fees, thanks to the use of fully decentralized off-chain oracles and Synthetix liquidity. Docs. Protocol Governance. Technical Architecture. S. These markets enable the creation and trading of spot synths created entirely on Synthetix V3. Governance. The epoch will. It is fair to say this was a far more successful change than anyone anticipated. Please list any anticipated conflicts of interest: NoneFurther, 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. 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. Synthetix is run as a DAO (see page 34), and Kain remains the largest holder of Synthetix governance tokens, which currently fetch about $10. The Synthetix governance framework also saw continued evolution last month. 3% went to bounties and marketing incentives. Docs. Synthetix stakers do not have to participate in governance farming, although ecosystem rooms may be deployed to boost voting power. 4% discount to its all-time high. The beauty of the dev fund is that theoretically it can self-fund all the things you talked about. In Governance Update #2 , foundation gave a clear instruction that self-dealing is not expected. Stats. Original Date of internal (to Synthetix governance) SIP discussing OP distribution May 18th, 2022. io An Old Dictator Appears Earlier this year the Synthetix community implemented a critical change on the path to decentralised. For example, the Ambassador Council is responsible for promoting Synthetix’s interest in the Ethereum ecosystem. 0) to a decentralised and flat structured entity (Web3. Perps V3. ⭐ Spartan Council/CCs: Base Deployment & Testnet Buying and selling Competitors⭐ Grants Council: NFT Undertaking & Watcher Web page⭐ Ambassador Council: Spartan Areas & Governance Proposals SYNTHETIX GOVERNANCE. Per SCCP-304, the spot market system has deployed a synthetic ETH token by creating a market for it. Synthetix Governance. SYNTHETIX GOVERNANCE. Stats. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. 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. Wide Variety of Assets Synthetix Perps supports a wide array of synthetic assets, which is determined and updated by the decentralized governance process. The Synthetix governance framework also saw continued evolution last month. Technical Specification. 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. Perps. Developer FAQ. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. These markets were approved by governance in SIP 2031 and had initial configurable values set by SCCP-2044. Powering the next. Docs. This guide has been updated as of 7/28/22. Synthetix Governance DAO is responsible for the governance of Synthetix, a platform that enables the creation and trading of synthetic assets. Blog. Governance bodies: Synthetix heavily relies on different DAOs to ensure governance runs smoothly. Governance-approved SCCPs can make these markets available for trading on frontends @Kwenta_io & @DecentrexHQ in the coming days. For example, transferring Ether simply requires 21000 gas. The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. 28m: Optimism: $242. Protocol Governance. Here are some quick details about each council. Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. In other words, all members have to do is vote representatives that would make decisions on their behalf. 00%. 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. Request some of the existing $500m+ Synthetix collateral for your market. Stats. Collateral: SCURVE . Connect wallet. 15 protocols qualify to participate based on total gas fees generated on Optimism in Season 2. During an in-depth discussion with Decrypt’s Dan Roberts at Chainlink SmartCon last week, Warwick said he believes DeFi governance “is actually worse today” than one year ago. Abstract. Blog. Synthetix is a platform that widens the horizon of existing trading capabilities. Powering the next. Synthetix is moving away from centralized oracles as it heads toward fully decentralized governance. Docs. SNX tokens are up more than 500% in price so far this year. 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. 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 . Nominations for the Synthetix Councils' (Spartan, Grants, Treasury, and Ambassador Council) next epoch will open on Thursday, August 17th. 👉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. Lastly, JVK has been working on a document to guide the dev who is working on the mint for the NFT project. The Treasury Council manages the Synthetix Treasury and provides funding to the other governance bodies, CC stipend payments, and other discretionary incentives. My reasons for wanting to be a delegate: Governance, voting and the separation of powers. Synthetix started out as a stablecoin, before pivoting to DeFi. Powering the next. Consensus Check. io by adding links to it from different landing pages (such as governance, staking, tools, etc). Staking App. For all their commitment to the crypto cause. Perps V3 Keeper. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. Introduction. Another. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. The only user interfaces maintained by Synthetix DAO are the governance and staking interfaces herein. It is a value-based entity, whose. c-ratio. . Multi-collateral staking will increase sUSD liquidity and the markets supported 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. VIEW ALL COUNCIL MEMBERS. Millie: The proposal says only if there is a protocol governance upgrade that renders it. Blog. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. com Synthetix Weekly - September 22nd 2021Governance Framework. 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. Revenue Share. Sep 19, 2023 • 1 min read. 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. 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. The Liquidity Layer of DeFi. Synthetix (SNX) is a decentralized liquidity provisioning protocol built on Ethereum and Optimism, serving as a backend liquidity layer for some of the most innovative protocols in the DeFi ecosystem. Synthetix price today is $ 3. Other. These markets were approved by governance in SIP 2032 and had initial configurable values set by. The Synthetix governance structure is composed of Councils, Committees, Core Contributors and a DAO. Protocol Governance. These were swapped for 6. Synthetix is excited to announce the addition of ZRX & UMA perpetual futures markets, now available for leverage trading via Synthetix Perps. 25, Kain Warwick, the founder of Synthetix, published a proposal advocating for capping the SNX supply at 300M tokens in two and a half months. Powering the next. 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. Spartan Council. The Synthetix Ambassadors will soon receive a delegation of 2m OP tokens (Optimism governance power) from the SNX Treasury Council. David_Heisenberg May 18, 2023, 1:17am 189. The Liquidity Layer of DeFi. 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. Stats. This doc includes minting probability estimates for different attributes. I don’t have any direct experience but it looks intriguing. This means that SNX will necessarily be worth 3-5 times the value of all necessary sAssets. Expected. We are excited to announce that after an eight-month successful implementation of Chainlink’s decentralised price oracles for our commodity and FX Synths, we have now switched the rest of our price oracles over to Chainlink as per SIP-36. – Uniswap. The Synthetix community is considering putting an end to its inflationary economics in ten weeks’ time. 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). 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. Staking App. Name: Mirror Address or ENS: protocol. For more updated information, monitor Synthetix governance votes and the SIP/SCCP repo. Per SCCP-304, the spot market system has deployed a synthetic ETH token by creating a market for it. Each governance component is assigned a specific aspect of protocol governance. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. 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. 55 each. But even when inflation was. 7 Likes. Uniswap and Polygon released major updates while Korean CeDefi platforms are. 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. Aave, Compound, Uniswap, etc. Sep 1, 2020 • 2 min read. Powering the next. The collateralized SNX tokens are locked in a staking contract; in return, stakers receive rewards and market returns. These include the Spartan Council, Protocol DAO, Synthetix DAO, Ambassadors DAO, and Grants DAO. SNXweave Weekly Recap September 24, 2021 - Blog - Podcast Synthetix Community Governance Call Come join us at 9pm UTC… synthetixweekly. SNX tokens are up more than 500% in price so far this year. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. There is still time to vote if you haven't yet. Here are some quick details about each council. 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. Uni3 December 14, 2020,. See the following articles in the Synthetix V2 documentation for more information about Synthetix Governance: Governance Framework. These councils’ Decisions and proposals are subject to majority votes from SNX stakers, ensuring a democratic and community-driven approach to protocol development. Voting is still in progress. Grants Council. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. However, in support of decentralization, the administration of the protocol was shifted and split between four governing councils, Spartan, Grants, Ambassador, and Treasury. Established via SIP-93, the SC is responsible for conducting SIP/SCCP interviews, debating the implications of proposed changes, coordinating protocol changes with the protocol. Synthetix and DYDX's funding rates are 0. Perps. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi,. Docs. The Liquidity Layer of DeFi. Staking App. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. We already saw it with Perpetual Protocol and with the case of Synthetix, who even now. “While we have been governed through rough consensus for some time. Protocol Information. This separation in multiple bodies should help encapsulate concerns and limit powers of the. 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. 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 Liquidity Layer of DeFi. Elections. The elected members will serve a 4-month termAs early adopters of delegate governance structure and early participants in Synthetix governance structure, we find us to be a good fit for this initiative. According to the update, the latest development involves the rollout of the new Synthetix V3 governance module. Thales protocol is Optimism native protocol born out of the Synthetix ecosystem. Do you agree to abide by the delegate code of conduct: (Yes / No) Yes. Blog. Staking App. I understand that becoming a delegate is a significant commitment: Yes. 1%. There is still time to vote if you haven't yet. SYNTHETIX GOVERNANCE. Welcome back to the 8th edition of Menya Digest! This week saw a barrage of newsflow. Blog. Quarterly Report for Synthetix, Quarter 2 of 2023: April — June. Staking App. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. It’s all happening right now for the Spartan Council! Fresh off last week’s first Council-led community governance call, the next Spartan Council election has begun for the next epoch. Aelin is a new protocol and will have its own token, community, and governance system. We’ve made progress, but there is still much to do. Binance. The V3 Watcher Stats page is also officially complete, so check that out for all of your stats needs!Synthetix price today is $ 3. 5% went to partners. Has eight members. The trading of stocks, currencies, commodities, and other assets are still dominated by the likes of Wall Street, London. Contribute to Synthetixio/SIPs development by creating an account on GitHub. For one, Synthetix incorporates six different DAOs designed to play specified governance roles within the Synthethix ecosystem. The reason for this is to gauge demand for LPs offering up different collateral. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). 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. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. The process for adding new Synths to Synthetix is based on demand, liquidity, and volatility. For Liquidity Pool Managers. ⭐ Spartan Council/CCs: Upgraded Liquidation Mechanism & Atomic Swap Integrations. $3. 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. There have been some welcome changes and. Stats. Treasury Council (4 members) - The Treasury Council (TC) manages the synthetix treasury and provides funding to the other governance bodies, cc stipend payments, and other discretionary incentives. Docs. Synths are nothing but on-chain synthetic assets that one can trade on a DeFi platform but whose value tracks the value. There will be no downtime during the release. The Synthetix discord is the place to engage in protocol governance and robust community discussion about the direction of the project. It further suggests deploying Andromeda to Optimism and Arbitrum, and deploying Carina (ETH-only backed Perps) to Ethereum. Initially, Aelin v1 will be governed by the Aelin Council, a DAO which will be voted on by SNX. One of the world’s leading Web3 accelerators with the strongest network in Asia, LongHashX partners with ecosystems like Filecoin, Polkadot, Axelar, and Algorand to empower founders to build top-class Web3 native projects. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Current Protocol Parameters. Decisions and proposals put forth by these councils are. Firstly, there is the Aelin Direct Deals, a terrific choice for sponsors or protocols looking to raise. 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. The top 20 protocols by total gas fees generated received a delegation of idle tokens from OP as a part of this program. 5 Likes. Initially, Synthetix governance participation was limited, meaning the project was partially decentralized. 38m . SNX Balance 0. FOR PERP INTEGRATORS. For Developers. Four staker-elected councils exist Spartan, Treasury, Ambassador, and Grants Council. staking assets supported. The beauty of the dev fund is that theoretically it can self-fund all the things you talked about. Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform. sUSD Balance 0. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. Staking App. SIP-141 formalizes the responsibilities and role of the grantsDAO, and also lays out plans to expand the scope of. Smart Contracts. This. However, since then, the TVL has risen to $800 million at the time of writing, and the price of. Design best practices for teams building on Synthetix V3. My reasons for wanting to be. nominations. Synthetix is a derivatives liquidity protocol built on Ethereum, facilitating the creation and trading of synthetic decentralized assets. I don’t have any direct experience but it looks intriguing. Name of protocol representative (s) that will serve as delegate (s): Rev Miller, CJ Hetherington. target. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Uniswap Governance Swap UNI for ETH and wBTC and provide liquidity. You can trade Synths — which. 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. Docs. SYNTHETIX GOVERNANCE. 03%. The Synthetix protocol is governed by a decentralized set of representative councils that are voted on by stakers. Powering the next. While Synthetix's governance initially fell under a non-profit foundation, this structure dissolved in 2020. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. Perps. Governance. 014361% and 0. The SNX price decreased-3. 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. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. However, the two versions of the Synthetix network running on L1 and L2 remain. Podcast now also on YOUTUBE SNXweave Anchor Podcast: Follow us on Twitter!. Meta-Governance Processes; Defining the different types of governing bodies Overview. Synthetix is a decentralized liquidity provisioning protocol built on Ethereum and Optimistic Ethereum (a layer two scaling solution built on Ethereum). Synthetix will use Chainlink decentralized oracles to power all price feeds on the Synthetix exchange. The Liquidity Layer of DeFi. An independent Work Group is suitable for the level of decentralization that Synthetix is at and would remove the information asymmetry that integrators face when. Elections. Staking App. ) for. Synthetix is a derivatives liquidity protocol providing the backbone for derivatives trading in DeFi, allowing anyone,. Learn more. Quick Start. Stats. With the rise of DeFi, a new form of governance has emerged specifically designed for decentralized systems. Messari’s recent update takes a look at what Synthetix has been up to. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. For security reasons, the payout function should always revert unless msg. Perps. but there's a sadness there, right?" Hear more from Kain Warwick about the future of #synthetix governa. Synthetix is a liquidity provisioning protocol on Optimism and Ethereum Mainnet that powers some of…Current Voting Results. On Aug. <!--You can leave these HTML comments in your merged SIP and delete the visible duplicate text guiThe Synthetix Improvement Proposal repository. Votes. Synthetix staking is vastly different from other DeFi protocols; it allo…Blockchain technology is already radically transforming the financial system. Synthetix provides liquidity for permissionless derivatives like perpetual futures, options, parimutuel markets, and more across EVM chains. The protocol and ecosystem is more broadly maintained and improved by a combination of core contributors, ecosystem partners, and community members. Docs. The Liquidity Layer of DeFi. Synthetix started out as a stablecoin, before pivoting to DeFi. The trading of stocks, currencies, commodities, and other assets are still dominated by the likes of Wall Street, London. Quick Start. Perps. Synthetix. 👉Q3 Highlights. Each item category is listed in order of the community’s preferences, as well as item level preferences. Perps. Synthetix was originally overseen by a non-profit foundation in Australia. Synthetix is an Ethereum-based protocol that allows users to create and issue synthetic assets, or Synths, which can be traded on supported decentralized exchanges. FOR PERP INTEGRATORS. Created: December 24th, 2022. Voting power is exclusively determined based on participation in the Synthetix V2 protocol. Docs. 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. Passed: Yes. Docs. We would like to ensure that there is advanced notice of this delegation because of anticipated community feedback. A return to the old school gold standard. 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. View the history of past council elections and vote in any currently open elections. Spot markets powered by Synthetix V3 allow anyone to exchange the V3 protocol’s stablecoin with a synthetic asset (or “synth”). The GC’s Governance Guide has also been posted to their Medium page, so be sure to check it out for a lot of great information about Synthetix Governance, including proposals, Council mandates, and more. I keep hearing that Synthetix governance model is working well - separating decision making and funding decisions by functional area. The rules and parameters associated with the Synthetix protocol and Synthetix DAO governance are subject to change at any time. Garth Travers. ⭐ Grants Council: Dune Analytics Grants & Wrapper UI (ongoing). 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. Blog. Delegated voting is more in line with the preexisting Synthetix Governance framework on Discord while also providing the benefits of Snapshot voting. Join the Kwenta Community. Join SNX is adding 22 new markets to Synthetix Perps soon. So you know, the CEO and those people on down are. 7: Fully Diluted Valuation. This business structure created as a result is called a Decentralised Autonomous. 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. 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. ), synthetic commodities such as gold (sXAU), as well as more complex assets suchCurrent Protocol Parameters. Synthetix V3 features a generalized collateral vault system that is agnostic to collateral types. Synthetix is a derivatives liquidity. Perps V3 Keeper. Information TVL Stablecoin Info Treasury Fees and Revenue Derivatives Volume Governance Forks. Once the collateral is deposited, users can mint sUSD up to the collateralization ratio set by the governance. On the regulatory front, all eyes are on Coinbase / Binance crossing swords with the SEC - we’ve added a special section that chronologically documents the events. The new module will reportedly make it easier for the network to make governance decisions with. Governance. The current Synthetix Governance signaling process is non-sybil resistant, easy to contest, and not a good indicator of community participation and sentiment. By allowing token holders to participate in decision-making, Synthetix ensures a decentralized approach to managing its innovative financial ecosystem. This new architecture minimizes complexity during releases, provides a novel way of overcoming the EVM's smart contract size limits, and makes system upgrades very explicit to the. For example, if you minted $1000 sUSD and the total sUSD value of all Synths in circulation is currently $1 million, your debt ratio owed to the network is 0. Base Andromeda. 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. 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. Synthetix Governance - Election Module . Read Synthetix (SNX) Price Prediction 2023-2024. 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. The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world assets.