Home CryptoDeFi SNXweave Weekly Recap 67

SNXweave Weekly Recap 67

by CryptoFan
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November 30, 2022

The following posts contain summaries of news, projects and important updates from the Spartan Council and Core Contributors, Grants Council and Ambassador Council over the past week.

Send Thanksgiving to our community members in the United States. Since it was a holiday last Thursday, the Spartan Council meeting was not held. But our other councils still had a chance to meet that week!

Grants Council

Attend the Grants Council on November 24, 2022:
Grant Team: CT, Cyberduck, JVK, Max

The Grants team briefly synced up on ongoing initiatives, especially the NFT project. They are still working out the details on which markets the NFTs will be listed on and JVK is working on a support guide to put on their mining website for users. Duck returns to the council this week to provide an update on Roar.

Ambassador Council

Attend the Ambassador Council on November 21, 2022:
Ambassador: GUNNBOATs, Kevin, mastermojo, Matt, Millie

Ambassador updates say the team is planning to use Gearbox in Spartan Space this week, and Ambassador was a guest at Across last week. Lightning Twitter SpaceClayton hosted the space, and Millie was a guest speaker, representing other ambassadors. Millie notes that since Clayton last spoke with Kain several years ago, she gave a fairly thorough high-level overview of Synthetix and asked for a little refresher on what the protocol has been doing so far. I got it!

Millie explained that Synthetix is ​​becoming a more liquid layer, and that V3 makes the protocol like Uniswap that can leverage on-demand liquidity. He then gave an overview of the Spartan Council, using the active testing and risk assessments that take place in the background to see how new assets would be introduced based on risk parameters and deliberations by the Council. explained. Millie then described some of the protocols built on top of Synthetix (he highlighted Kwenta and Lyra in particular) and how Synthetix really mitigates those risks.

Clayton then spoke and provided a high-level overview of Across. he said: One of Across’s fundamental pillars is that it is an optimistic bridge. This is different from a bridge that uses AMM only. This is because in these cases, AMM prices transactions that contain slippage issues (which is why you see different fees for different AMM bridges).

At Across, users are paid Exactly What they transfer minus a small fee. Optimism Bridge does not have to use his AMM pricing model and can look at another chain to identify that something happened as promised, providing an incentive for intermediaries to serve the bridging. so this is possible.

By being an optimistic bridge, Dispute window If something goes wrong on the intermediary side. They are essentially doing everything at their own expense — relayers fund bridgers on the destination chain and later claim rebates from the pool. to verify that it is correct. This is another consequence of this optimistic design. Validate after the fact Instead of using deterministic results. As a result, Akros is more capital efficient and has no slippage (both improvements to his UX).

Overall, it was a fun and fast call, so if you missed it, don’t forget to catch the recording!


Podcast is also being distributed Youtube

SNXweave Anchor Podcast: https://anchor.fm/snxweave

Follow me on Twitter! @snx_weave

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