Synthetix

about

The Synthetix protocol serves permissionless transformation of multiple crypto, fiat and commodities derivatives into thus synthetic, single tokens, and the trading of those through its DEX to wider DeFi.‍

IDENTIFY OPPORTUNITIES
Find resources and opportunities to help grow Synthetix.

GUIDING APPLICANTS
Through the required processes and protocols.

INTERVIEWING APPLICANTS
And evaluating proposals for granting purposes.

VOTING ON PROPOSALS
And distributing approved funds to grantees.
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solution

The Synthetix organization works through five designated DAOs (See in project documentation):

- Synthetix Treasury DAO is set to ensure that all Synthetix governing bodies remain incentivised to support its ecosystem development.

- Synthetix Spartan DAO: Community-elected, set to manage the Synthetix multi-DAO space. Among other tasks, it is responsible for proposal deliberation, protocol change coordination, and hosting community governance meetings.

- Synthetix Protocol DAO: Owner of the Synthetix Protocol core contracts. Responsible for upgrading and releasing new contracts on behalf of the Spartan Council. Its membership is Council-permissioned by defined criteria.

- Synthetix Ambassador DAO: Members here are Synthetix delegates, who get staked-empowered by the community through this DAO so as to meta-govern Synthetix-owned DeFi assets in their native governance DAOs.

- Synthetix GrantsDAO (also: XgDAO): Manages Synthetix' grants policy through an elected council of team and community reviewers.

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mission

The twin purpose of setting up the grantsDAO is to provide greater transparency and decentralisation to the project. All proposals will be available for public viewing at snxgrants.io, meaning the community will be able to see at a glance all the proposals that have been accepted and rejected, as well as any that are pending.

These members were determined by rough consensus through our Discord community. In the near future we will look to expand the number of members via community consensus.

The grantsDAO consists of five community and team members who will review proposals for SNX grants that contribute to the project. This is a huge milestone for the project as it marks the first phase of the transition to decentralised governance.
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