SNXweave Weekly Recap

Spartan Council and SIP updates

Present at the June 28, 2022 Spartan Council Weekly Project Sync:
Spartan Council: Afif, calavera, Danijel, JVK, ksett, Mark
Core Contributors: Cavalier, db, jj, joey, Leo, Mike, noah, Steve

  • Your Spartan Council members for the upcoming epoch will be Afif, Burt Rock, Danijel, Ethernaut (Ale), ksett, Kain, SynthaMan, and TerraBellus
  • Serving the community on the Treasury Council this epoch will be artsychoke, elliptic-crv, Jordan, and Spartan Glory
  • Our upcoming Grants Council members will be ALEXANDER, CT, cyberduck, JVK, and Mike
  • And lastly, your Ambassadors for the coming epoch will be mastermojo, Matt, and MiLLiE

Grants Council

Present at the June 30, 2022 Grants Council meeting:
Grants Team: ALEXANDER, CT, cyberduck, Mike

Ambassador Council

Present at the June 28, 2022 Ambassador Council meeting:
Ambassadors: mastermojo, Matt, MiLLiE

  • Top 12 delegates for HOP protocol (488,366 delegated votes representing 2% of circulating supply)
  • Euler delegation application submitted
  • The Ambassadors, along with the Grants Council, contacted protocol aggregators to integrate Atomic Swaps. They reached out to Dodo, MetaMask, Cowsap, 0x, Matcha, Zapper, and Zerion with developments in the works.
  • Spartan Space — Quixotic June 2nd (65 listeners)
  • Spartan Space — dHEDGE & Toros June 9th (34 listeners)
  • Spartan Space — Uniswap V3 June 14th (54 listeners)
  • Spartan Space — Euler Finance June 30th (53 listeners)
  • Designed to capture underlying volatility of an asset
  • Can borrow less on volatile assets, and more on less volatile assets
  • This protects the protocol from the volatility of longtail assets
  • Useful feature for traders
  • Each account can be broken into 256 sub accounts, and each sub account can be managed from 1 UI dashboard
  • Much more gas-efficient than creating individual accounts
  • Helps to silo risk — only assets in each account would be subject to liquidation
  • Euler Liquidation Engine increases capital efficiency for borrowers
  • Other lending protocols typically set a fixed percentage discount for liquidators to process liquidations
  • Euler liquidations give a voice to the market as far as what liquidations should be
  • More of a “Dutch auction” approach rather than an “English auction”
  • Liquidation bonus is the difference between the loan health score and 1
  • This makes Euler more attractive for bigger accounts!

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SIP/SCCP status tracker:

SIP-203: Volume Source, Status: SC review pending

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