Home CryptoDeFi Synthetix Elections – Nominations start Sep 10th


Updated September 26, 2022. SIP 278Nominations are now available during the voting period.

Nominations for the Synthetix Councils (Spartan, Grants, Treasury, and Ambassador Councils) for the next epoch will begin at 0:00 UTC on September 10th! Lasts for months. All elected Council members will receive a monthly scholarship of 2,000 SNX per month from the Synthetix Treasury.

There are no nominations on the Synthetix Discord.currently hosted https://governance.synthetix.io/Read the tutorial section to learn how to nominate yourself in the new UI.

election timeline

  • 3:00 UTC September 17th – Council Voting Begins
  • October 1 3:00 UTC – Council Voting Ends
  • October 1st 3:00 UTC – Start of a new epoch

Synthetix Governance – Election Module

ElectionModule is part of the V3GM release. This is the first release of the governance module. ElectionModule Proxy has four instances, each representing his one of the council bodies (Spartan Council, Ambassador Council, Finance Council, Grant Council).

Synthetix is ​​once again at the forefront of DeFi decentralization and we are very excited to announce features that will revolutionize DeFi governance as we know it.

Here are some quick notes about the new interface and the whole new election process.

  • Candidates can nominate themselves by connecting their wallets
  • wallet profile is https://boardroom.io/ This helps populate the wallet profile with off-chain metadata that is stored by signing off-chain messages (wallet profiles can only be edited if you own the wallet). The most important metadata here is that candidates can add their own pitches.
  • A nominee can only be nominated to one of the four councils.
  • All ElectionModules utilize a second-order voting mechanism, except the Finance Council, which is linear.
  • The ElectionModule leverages the Merkle root tree to gather the user’s L1 voting power (if applicable) and combine it with their L2 voting power.
  • All contract interactions (nominations and votes) take place on the L2 Optimism Mainnet

Learn more about the Synthetix Council

Each Synthetix Council plays a different and important role in the execution of the Synthetix Protocol. Here is a brief description of each council.

governing body

easy explanation

Finance Council (4 members)

The Treasury Council administers the Synthetix Treasury, funds other governance bodies, provides CC scholarship payments, and other optional incentives.

Spartan Council (8 members)

The Spartan Council (SC) is the central governing body for the Synthetix protocol. The SC votes on overall improvements and parameter changes.

Grants Council (5 members)

The Grants Council is Synthetix’s value-based elective body, whose ultimate goal is to fund beneficial, high-quality public goods projects through grants, initiative incentives, or competitive prizes. .

Ambassador Council (5 members – changed on 14 September 2022 – SCCP 230)

The Ambassador Council actively promotes and defends the interests of Synthetix across the Ethereum (and DeFi) ecosystem.

Recommended tutorials and guidelines

Reminder – You can only nominate yourself to one of the councils.

1) First, Governance.Synthetix.ioyou will be greeted by Synthetix’s various governance bodies and current candidates. Connect your wallet to continue.

2) Once you’ve connected your wallet (make sure you’re in Optimism), click the[自分を指名する]Click. Then confirm the on-chain transaction and wait for it to be confirmed.

3) Once approved, you will be taken to the current nominees page for the council you nominated.

[指名の編集]Click the three dots next to[プロフィールの編集]Click to add your pitch and other details you want voters to know.

in the diagram above[指名の編集]Click the three dots next to[プロフィールの編集]Click to add your pitch and details about yourself.

Four)[委任ピッチ]Click and enter your pitch in your profile.

[委任ピッチ]Click and enter your pitch in your profile.

5) Complete the Edit Profile section below. Required sections are marked as such. Once done,[プロファイルを保存]Click to sign the transaction.

Complete the Edit Profile section below. Required sections are marked as such. Once done,[プロファイルを保存]Click to sign the transaction.

6) That’s it! Your nomination will have your name, pitch, and all other important information in one dapp that is easy to read and understand.

Say goodbye to Discord nominations. Good results, but this electoral module is the result of years of research and development. Synthetix is ​​excited to be at the forefront of decentralizing governance in DeFi.

Election voting information

Voting will begin on September 17th at 12:00 UTC and will take place in the new election module. Details on how to vote will be announced at a later date.

What’s your question?

If you have any further questions about Synthetix Council elections, Join us on Discord On the #governance channel.

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