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SNXweave Weekly Recap 104

SNXweave Weekly Recap 104

August 30, 2023

The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week.

🚨Election Results🚨

  • Your Spartan Council members for the epoch will be Adam, Burt Rock, Cyberduck, Genefaesius.eth, Jackson, Kain, Millie, and ML_sudo
  • Serving the community on the Treasury Council this epoch will be Bagg, Carrot Anderson, Cavalier, SpartanGlory
  • Our Grants Council members will be ALEXANDER, CT, MoneyManDoug, Sunny, Synthquest
  • And lastly, your Ambassadors for the coming epoch will be GUNBOATs, Kevin, Mastermojo, Matt, Westie

Thank you to all who ran, voted, and participated in governance this epoch, and congratulations to our newly elected Council members!

Spartan Council and SIP updates

Present at the August 23, 2023 Spartan Council Weekly Project Sync:
Spartan Council: Burt, Cavalier, dsacks, Jackson, ml_sudo
Core Contributors: Afif, KALEB, Matt, Mike, Noisekit, troy

Now onto our regular updates…all of the final Mainnet alpha upgrades for V3 are currently with auditors for review, ERC-7412 has been posted to the Ethereum Magicians forum for community discussions, and the Perps V3 SIP is finally up on the SIP repo in draft! Audit feedback is expected by the end of the week for this SIP, and then it will be voted on by the next Spartan Council. Nothing was added to the SIP (over perps V2) that would make it contentious, so it should go through governance swiftly. And speaking of governance, the SIP for the proposed election changes will also be presented for the new Council in the upcoming epoch.

The SC and CCs also had a discussion last week regarding integrator fees. While discussing Perps V3, Burt wanted to make sure there was time to introduce possible updates to the new proposed fee structure in the context of Perps. There was general consensus in another call that the fee should be 30% across the board, and shouldn’t be a governance decision based on integrator proposals.

Kaleb’s main concern with a variable fee is that it may give integrators the ability to pass some of that fee share back to users (which is not the intended purpose of the fee and may stifle competition). Sunny countered by adding that the threat of reducing fee share would likely keep integrators from doing this, with the mechanism that allows the percentage to be changed via SCCP.

Grants Council

Present at the August 24, 2023 Grants Council meeting:
Grants Team: ALEXANDER, CT, synthquest

In Grants Council updates, the team has been pushing their Spartan Synthverse NFTs to winners of contests — most recently at Polynomial. They’ve also received the final draft of the lore for the NFTs, which is being put into the website. They’re hoping to go to auction with the first publicly available NFTs soon.

The governance doc that they are working on is about 90% completed as of this week, and the Council has also been working on a program for V3 testnet incentives that we should be hearing more about soon.

Ambassador Council

Present at the August 22, 2023 Ambassador Council meeting:
Ambassadors: GUNBOATs, Kevin, Mastermojo, Matt, Westie

Lastly, in Ambassador updates, the team reviewed their Spartan Space with the Grants Council, discussed some Optimism Governance, revised some material for Bankless Academy, and discussed future Spartan Spaces. They are hoping to host Infinex and Amphora in the coming weeks, and they actually joined Tasty Crypto as a co-host in their space last week.

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SIP/SCCP status tracker:

SIP-337: Perps V3, Status: draft