Home CryptoDeFi SNXweave Weekly Recap 72

SNXweave Weekly Recap 72

by CryptoFan
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January 18, 2023

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.

Spartan Council and SIP updates

Attend the Spartan Council Weekly Project on January 11, 2023:
Spartan Council: Cavalier, dsacks, Jackson, KALEB, SeliniCapital (representing Jordi), TerraBellus, William87
Major contributors: Afif, Bex, David, db, Ethernaut, joey, jz, Matt, Mike, Nikita, noah

Core contributor priority remains the same. As far as current progress is concerned, SIP-255 The implementation is expected to be completed by the end of this month. As a note, this SIP proposes a burning fee collected by a fee pool, instead of allowing fees to be requested and transferred. When this SIP goes to audit, Debt Transfer SIP Continue. But the auditors are pretty busy with V3 right now, so these timelines for completion could still be a few weeks away.

As for V3, we’ve received minor feedback from our auditors, but we don’t expect the full report to be ready until late January or early February. CC is focused on getting the spot market code as complete as possible, and according to Noah, the current goal is to have his complete V3 system on testnet, even if the code isn’t complete. Boot it up and make sure everything works properly.

On the Perps V2 side, the team is preparing for the first patch release this week based on feedback from the alpha. A few bugs have been identified in Alpha and a release to fix them will be on the testnet soon. Leo also presents his SIP which covers all bug fixes.

Afif said everything is on track for Perps V2 and hopes to support all perps V1 markets towards the end of the month. Our current recommendation is to postpone the rest of his V1 Market additions until all bugs are resolved. Some of the bugs may prevent orders from being processed.

Work is also being done to allow L1 multisig to vote using V3GM (this was an issue in the last election). TerraBellus proposed adding the Treasury Council (TC) to the Spartan Council call. This is due to recent proposals to direct some of the fees to the frontend, and TC should be part of that conversation.

Finally, Cavalier suggested putting together a Spartan Council-approved roadmap for this year to keep everyone on the same page. This roadmap helps SC and CC agree on many of his priorities for the year upfront, so there’s no confusion about direction later.

Ambassador Council

Attending the Ambassador Council on January 10, 2023:
Ambassador: GUNNBOATs, Kevin, mastermojo, Matt, MoneymanDoug

In an update from the Ambassador Council, the team had their first meeting of the new era last week! They welcomed new member MoneymanDoug as Ambassador and gave them some tips. The team has been discussing future Spartan Spaces and is currently working on a list.

As far as governance updates go, Matt and Doug are both running for Optimism’s new Grants Council.

The team then discussed how to vote for protocol self-delegation.

  • Mojo contacted Lyra, dHedge and Thales to
  • Kevin contacts Quenta,
  • Matt contacted Polynomial for self-delegation

Finally, the team also voted for Euler and Gearbox last week, with MasterMojo selected As an Optimism Badgeholder, I proudly represent Synthetix and Ambassadors.

Podcast is also being distributed Youtube

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

Follow me on Twitter! @snx_weave

SIP/SCCP Status Tracker:

SIP-255: burn the tolls instead of distributing them, Status: Approved

SIP-237: Debt Transfer, Status: Draft

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