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Nominations for the following epoch’s Synthetix Councils (Spartan, Grants, Treasury, and Ambassador Council) will open later, Sep tenth at 0:00 UTC! The epoch lasts for 3 months, from Oct 1st to Jan 1st. All elected council members will obtain a month-to-month stipend from the Synthetix Treasury of two,000 SNX monthly.
Nominations are not on the Synthetix Discord; it’s now hosted on https://governance.synthetix.io/. Learn the tutorial part to learn to nominate your self within the new UI.
Election Timeline
- Sep seventeenth 3:00 UTC – Council voting begins
- Oct 1st 3:00 UTC – Council voting ends
- Oct 1st 3:00 UTC – New Epoch begins
Synthetix Governance – Election Module
The ElectionModule is part of the V3GM launch; it’s the first launch of the governance modules. There are FOUR situations of the ElectionModule Proxy – every representing one of many council our bodies (spartan council, ambassador council, treasury council, grants council)
Synthetix is but once more on the forefront of DeFi decentralization, and we’re past excited to unveil a characteristic that can revolutionize DeFi governance as we all know it.
Listed below are some fast notes on the brand new interface and the brand new election course of as a complete:
- Nominees can join their pockets and nominate themselves
- Pockets profiles are powered by https://boardroom.io/ (shout out to them), which helps populate the pockets profiles with off-chain metadata that’s saved by way of signing an off-chain message (their pockets profile can ONLY be edited in the event that they personal the pockets); a very powerful metadata right here is that nominees can add their very own pitches.
- Nominees can solely nominate for one of many FOUR councils
- All of the ElectionModules make the most of a quadratic voting mechanism EXCEPT treasury council, which is linear
- The ElectionModule makes use of a Merkle root tree to assist acquire a consumer’s L1 voting energy (if relevant) and mix it with their L2 voting energy
- All contract interactions (nominations and voting) are performed on L2 Optimism Mainnet
Synthetix Council Particulars
Every of the councils at Synthetix serves a distinct and important position in operating the Synthetix protocol. Listed below are some fast particulars about every council.
Nominating Tutorial and Pointers
Reminder – You possibly can solely nominate your self for one of many councils.
1) First, go to Governance.Synthetix.io; you may be greeted with the assorted governance our bodies of Synthetix and the present nominees. Join your pockets to proceed.
2) As soon as you have linked your pockets (be sure to’re on Optimism), click on “Nominate Your self” for the council you are concerned about. Then affirm the on-chain transaction and await it to substantiate.
3) As soon as confirmed, you may be introduced with a web page of the present nominees for the council you have nominated for.
Click on the three dots subsequent to “edit nomination,” then click on “edit profile” and add your pitch and different particulars you need voters to find out about your self.
4) Click on the “Delegation Pitch” after which fill out your profile with a pitch for your self.
5) Fill out the “Edit Profile” part beneath. Any sections required will likely be marked as such. As soon as full, click on “Save Profile,” then signal the transaction.
6) That is it! Your nomination will now characteristic your identify, pitch, and all different essential data in a single easy-to-read and perceive dapp.
Say goodbye to Discord nominations; it was run, however this election module is the results of years of R&D. Synthetix is worked up to be on the forefront of governance decentralization in DeFi.
Election Voting Information
Voting will start on Sep seventeenth at 12AM UTC and will likely be carried out within the new election module. There will likely be a subsequent announcement with detailed directions on the right way to vote.
Any Questions?
When you’ve got additional questions concerning the Synthetix Council elections, please be part of us in Discord within the #governance channel.
