SNXweave Weekly Recap

Spartan Council and SIP updates

Present at the September 8, 2022 Spartan Council Weekly Project Sync:
Spartan Council: Afif, Ale, Burt, Kain, ksett, SynthaMan, TerraBellus
Core Contributors: Cavalier, Darius, db, KALEB, noah, Rafa, Steve, sunny

  • Presented and proposed by Kain himself, this SIP ends inflation with the total supply of SNX tokens capped at 300 million
  • This SIP also elevates the token supply to metagovernance status, meaning any future changes to the token supply will require a unanimous vote by the Spartan Council
  • The idea here is to taper inflation over the next 10 weeks towards that final supply target
  • At that point, protocol activity would be sustained by fees
  • The timeline for the taper is up for discussion and Kain is looking for feedback from the Council on 10 weeks vs. 15 or 20, etc.
  • Terra presented this SIP, which proposes an “inactivity threshold” for the number of missed votes that a Spartan Council member has. Once a certain number of votes are missed, over a certain time period, a dismissal process is triggered for that Councilor.
  • The SIP proposes setting the threshold at 5 sequentially missed votes over a period of 7 days
  • After further discussion, consensus was reached on a compromise at 10 days rather than 7
  • Following this period, if a Council member has not been voting as required, the remaining Council would have to report that to the pDAO for them to be dismissed
  • Dismissal would then trigger an emergency vote to replace them
  • Ale disputed this saying he’s not sure there should be hard rules for something like this because it seems like something that’s going to collide with a lot of edge cases. He thinks these kinds of actions should have some kind of soft consensus among Council members
  • Terra: “The overarching objective is to assure the community that their elected Council members are participating as expected.”

Grants Council

Present at the September 8, 2022 Grants Council meeting:
Grants Team: ALEXANDER, CT, JVK, Mike

Ambassador Council

SCCP-230 was approved! This proposed increasing the number of Ambassadors on the Ambassador Council to 5 members (from 3), and has passed following an 8/8 unanimous vote by the Spartan Council.

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SIP/SCCP status tracker:

SIP-271: System Wide Suspension — Proof of Stake, Status: approved

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