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SNXweave Weekly Recap 72

SNXweave Weekly Recap 72

January 18, 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.

Spartan Council and SIP updates

Present at the January 11, 2023 Spartan Council Weekly Project Sync:
Spartan Council: Cavalier, dsacks, Jackson, KALEB, SeliniCapital (represents Jordi), TerraBellus, William87
Core Contributors: Afif, Bex, David, db, Ethernaut, joey, jz, Matt, Mike, Nikita, noah

The priorities remain the same for the Core Contributors, and as far as current progress goes, SIP-255 implementation is underway expected to finish this month. As a reminder, this SIP proposes burning fees collected by the fee pool instead of allowing them to claim the fees and have it transferred to them. Once this SIP goes to audit, the debt migration SIP will follow. But the auditors are pretty busy with V3 right now, so the timeline for the completion of these is still likely a few weeks away.

Speaking of V3, minor feedback has been rolling in from the auditors, but the full report isn’t expected to be ready until the end of January or early February. The CCs are focused on getting the spot market code as far along as possible, and Noah said their goal right now is to get a full V3 system up on testnet to make sure everything is working properly, even if the code isn’t finalized.

On the Perps V2 side, the team is preparing for the first patch release this week based on feedback from the alpha. Some bugs were identified in the Alpha, and the release to correct them should be on testnet shortly. Leo will also be presenting a SIP that covers all of the bug fixes.

Afif said everything is still on track for Perps V2, and they’re hoping to have support for all the perps V1 markets towards the end of the month. The current recommendation is to hold off on adding the remaining V1 markets until all of the bugs have been addressed, some of which could cause orders to not go through.

Work is also being done to ensure L1 multisigs can vote using V3GM (which was an issue in the last election). TerraBellus suggested adding the Treasury Council (TC) to the Spartan Council calls since there was a recent suggestion to direct some fees toward frontends, and the TC should be part of that conversation.

Lastly, Cavalier suggested putting together a roadmap for the year that is Spartan Council-endorsed so that everyone is on the same page. This roadmap can help the SC and CCs to agree on many of the priorities for the year ahead of time, so there’s no confusion on direction later.

Ambassador Council

Present at the Januaary 10, 2023 Ambassador Council meeting:
Ambassadors: GUNNBOATs, Kevin, mastermojo, Matt, MoneymanDoug

In Ambassador Council updates, the team had their first meeting of the new epoch last week! They welcomed their newest member, MoneymanDoug, to the Ambassadors and showed him the ropes. The team discussed future Spartan Spaces, and are currently in the process of compiling a list.

As far as their Governance updates go, Matt and Doug are both running for Optimism’s new Grants Council.

The team then discussed how they plan to vote for the protocol self-delegations:

  • Mojo reached out to Lyra, dHedge, and Thales, and
  • Kevin reached out to Kwenta, and
  • Matt reached out to Polynomial for self-delegation

Lastly, the team also did some Euler and Gearbox voting this past week, and MasterMojo got selected as an Optimism Badgeholder, and will represent Synthetix and the Ambassadors proudly.

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SIP/SCCP status tracker:

SIP-255: Burn fees instead of distributing them, Status: approved

SIP-237: Debt Migration, Status: draft