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A Decentralized Governance

Synthetix is a decentralized protocol run by governance, with representative councils elected by the community, ensuring every decision reflects the collective voice of its users.

SYNTHETIX GOVERNANCE

The Synthetix protocol is governed by a
decentralized
set of representative councils that are
voted on by stakers
.

SYNTHETIX ECOSYSTEM

Governing Councils

The Synthetix Protocol is governed by four councils, each responsible for a core aspect of a DAO.

Spartan Council

The Spartan Council (SC), established via

SIP-93

, is the central governing body of the Synthetix protocol. The SC votes on Synthetix Improvement Proposals (SIPs) and Synthetix Configuration Change Proposal (SCCPs). The SC is responsible for conducting SIP/SCCP interviews, debating the implications of proposed changes, coordinating protocol changes with core contributors, and hosting periodic community governance meetings.

Grants Council

The Grants Council, established via

SIP-39

, is responsible for public goods funding through grants, initiative bounties, or competition prizes. It is a value-based entity, whose ultimate goal in funding projects is to produce publicly accessible, beneficial, high-quality work where profit margins are not the priority. Projects are chosen not based on the value they can extract but instead on the value they can add to the community.

Treasury Council

The Treasury Council, established via

SIP-155

, provides resources for the protocol's growth and expansion. This includes managing the treasury in a way that allows continuity of funding for protocol costs (on-chain/off-chain), council and Core Contributor Stipends, ecosystem incentives, including Grants Council funding, and other discretionary incentives. The members of the council manage the treasury through a gnosis-safe multi-sig.

Ambassador Council

The Ambassador Council, established via

SIP-157

is responsible for promoting Synthetix's interest in the DeFi ecosystem. This advocation comes through two primary means: governance and partnerships. Governance includes seeking governance power in protocols that may be beneficial for Synthetix, and voting for proposals in the interest of the community. Partnerships include working with Synthetix integrators to help them integrate within the Synthetix Ecosystem.

Learn more about Synthetix Governance

Explore Synthetix's governance system. Learn how decisions are made through our community-elected councils and proposals (SIPs and SCCPs) by visiting our documentation and joining the conversation on Discord.

Protocol Features

Voting Power

By staking SNX tokens, users gain the authority to vote within the Synthetix protocol, directly influencing its future direction. This voting power is crucial in electing representative councils that align with their vision for Synthetix's evolution.

Nomination Process

The nomination is open to all; anyone interested can self-nominate for a position on one of the four councils. Candidates must use the

governance app

during the specified election period, providing details about their qualifications and experience.

Decision-Making on Proposals

Once elected, Spartan Councillors have the responsibility to deliberate on

Synthetix Improvement Proposals

(SIPs) and

Synthetix Configuration Change Proposals

(SCCPs). These decisions are made after considering presentations and feedback from the community, gathered through the

Synthetix Discord

.

Initiatives by Non-Governing Bodies

Apart from the governing councils, non-governing DAOs like the Treasury Council, Ambassadors, and Grants Committee undertake various initiatives within each epoch. These initiatives include allocating new grants, fostering partnerships, and managing the treasury's assets.

Ongoing Cycle

The Synthetix governance cycle is continuous, with each epoch marking the beginning of a new phase. This cycle includes the nomination of candidates, the electoral process, and the ongoing execution of roles, ensuring the constant evolution and management of the Synthetix Protocol.

SYNTHETIX GOVERNANCE

Participate in Governance

Play a pivotal role in Synthetix Governance. As a staker, your votes in council elections and contributions to proposals are essential, steering the protocol's direction and evolution.