SIPs 23-24: express your views on the proposed new SNX monetary policy!

Over the last few months, Synthetix has been shifting to a model that accepts formal suggestions or recommendations from the project’s community. This has been through a SIP model (similar to Ethereum’s EIP model), and the response has been overwhelmingly positive. One of the first major topics raised was by Discord member Deltatiger, who suggested changes to our current monetary policy.

The conversation around these changes has been robust and informative, and you can read the entire formal discussion here. There is now a clear proposed alternative plan, which has been detailed in full by Deltatiger and Vance Spencer from Framework Ventures. This plan involves smoothing the inflation rate rather than dropping drastically each year, and adding a perpetual weekly reward of 100,000 SNX starting on June 21, 2023.

We are now ready to gauge consensus on these proposed measures. Many people have been supportive already, but we want as many people from the community as possible to express their views. We have decided to give the community the next four days to record their opinion. Then, if it has reached general consensus by noon of Monday, November 4 (AEDT), the Synthetix team will be meeting to determine which upcoming release it will be included in.

The summaries of the proposed changes can be seen here for SIP 23 and here for SIP 24. You can express your view here either via emoji reaction or by adding a comment to the discussion.

Thank you to everyone who has contributed to this discussion so far and thank you to everyone who votes. If you have any questions at all about how this works after reading through the discussion, come join us in Discord.