Synthetix Council Elections April 2023
Nominations for the Synthetix Councils (Spartan, Grants, Treasury, and Ambassador Council) of the next epoch will open on Monday of next week, April 17th. The epoch will last for four months, starting from April 30th. The voting period will begin on April 21st and end on April 30th.
All elected council members will receive a monthly stipend from the Synthetix Treasury of 2,000 SNX per month. Elections are hosted on the Synthetix Governance Module. Read the tutorial section to learn how to nominate yourself in the new UI.
Learn more about each Synthetix Council below or in the Synthetix Docs.
- April 17th - Council nominations begin
- April 21st - Council voting begins
- April 30th - Council voting ends, nominations close & new epoch begins.
Synthetix Governance - Election Module
Here are some quick notes on the interface and the election process as a whole:
- Nominees can connect their wallet and nominate themselves
- Wallet profiles are powered by Boardroom (shout out to them), which helps populate the wallet profiles with off-chain metadata that is stored via signing an off-chain message (their wallet profile can ONLY be edited if they own the wallet); the most important metadata here is that nominees can add their own pitches.
- Nominees can only nominate for one of the FOUR councils
- All the ElectionModules utilize a quadratic voting mechanism EXCEPT treasury council, which is linear
- The ElectionModule utilizes a Merkle root tree to help collect a user's L1 voting power (if applicable) and combine it with their L2 voting power
- All contract interactions (nominations and voting) are done on L2 Optimism Mainnet
Synthetix Council Details
Each of the councils at Synthetix serves a different and vital role in running the Synthetix protocol. Here are some quick details about each council.
- Treasury Council (4 members) - The Treasury Council (TC) manages the synthetix treasury and provides funding to the other governance bodies, cc stipend payments, and other discretionary incentives.
- Spartan Council (8 members) - The Spartan Council (SC) is the central governing body of the Synthetix protocol. The SCvotes on overall improvement proposals and parameter changes.
- Grants Council (5 members) - The Grants Council (GC) is a value-based Synthetix elected body whose ultimate goal is to fund beneficial and high-quality public goods projects through grants, initiative bounties, or competition prizes.
- Ambassador Council (5 members) - The Ambassador Council (AC) actively promotes and advocates for the interests of Synthetix in the overall Ethereum (and defi) ecosystem.
Nominating Tutorial and Guidelines
1. First, go to Governance.Synthetix.io; you'll be greeted with the various governance bodies of Synthetix and the current nominees. Connect your wallet to proceed.
2. Once you've connected your wallet (make sure you're on Optimism), click "Nominate Yourself" for the council you're interested in. Then confirm the on-chain transaction and wait for it to confirm.
3. Once confirmed, you'll be presented with a page of the current nominees for the council you've nominated for.
4. Click the "Delegation Pitch" and then fill out your profile with a pitch for yourself.
5. Fill out the "Edit Profile" section below. Any sections required will be marked as such. Once complete, click "Save Profile," then sign the transaction.
6. That's it! Your nomination will now feature your name, pitch, and all other important information in one easy-to-read and understand dapp.
SNXweave Spartan Council Panel
SNXweave will once again be hosting a LIVE panel to hear from the Spartan Council incumbents and candidates and discuss hard-hitting questions posed by the community. Tune in to hear them talk about their visions for Synthetix and what they'll do as council members!
If you plan on nominating for the Spartan Council, contact ProofofCake via Discord to include you in the panel! The panel is tentatively scheduled for April 25th.
Election Voting Info
Voting will begin on April 21, 2023, and will be conducted in the Synthetix election module.
Once voting begins, you can use the Synthetix Docs guide to learn how to vote.
If you have further questions about the Synthetix Council elections, please join us on Discord.