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SNXweave Weekly Recap 105

SNXweave Weekly Recap 105

September 6, 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.

First up, Perps has been pulling in some incredible volume for the protocol, so here’s a quick data report for the 7-day period from August 30th to September 5th (according to

📊Synthetix Perps Data Report

  • 7-Day Total Volume: $951.3 million
  • Average Daily Volume: $135.9 million
  • Total Volume as of September 5th: $26.84 billion
  • Total Fees as of September 5th: $20.27 million

Next, be sure to join us tonight at 10pm UTC in the governance-stage when we host Synthetix Treasury Proposal (STP) authors Kain, ml_sudo, Carrot Anderson, and SpartanGlory to discuss the outstanding STPs that they have written!

Topics of discussion will include:

  • STP-2: creation of a Data Analytics Working Group to create a reliable reference for all key Synthetix data
  • STP-3: creation of the Synthetix Ecosystem Fund to fund ecosystem projects and diversify the treasury into liquid tokens
  • STP-4: create a Staking Pool on Synthetix V3 for SNX holders to deposit SNX and earn yield without having to hedge
  • STP-5: creation of a Development/Sales Working Group to onboard high-value traders and funds through dedicated service

Grants Council

Present at the August 31, 2023 Grants Council meeting:
Grants Team: ALEXANDER, CT, MoneyManDoug, sunny, synthquest

In Grants Council updates, the team welcomed their new member, MoneyManDoug, last week. They reviewed the many projects and initiatives that they’re working on, and had a good introductory meeting to get him up to speed.

The GC has also started rolling out their NFT Synthverse LORE! This otherworldly tale features detailed stories of Earth Under the Olympians, The Elysion Initiative, The Synthverse, The Troll Invasion, The Fall of Mount Havven, and the Current Crisis that ties it all together. Be sure to read the full Lore here to transcend reality and get excited for the very imminent NFT drop!

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