Synthetix Quarterly Report — Q1 2022

Q1 Highlights

Spartan Council/CCs: Futures & the Debt Pool Synthesis


Despite a long list of highlights, no epoch is without its bumps in the road. Early in the quarter, with the release that brought us Dynamic Exchange Fees, a minor change caused an integration error with protocol partners. The Spartan Council called an emergency session and quickly executed a follow-up release of SIP-209 to correct the issue by updating the Exchanger for backwards compatibility.

Protocol Stats

Overview of Synthetix Q1 Stats: January 2022 — March 2022.

Sneak peek into what the HERO STATS page will look like, but with real Q1 data!

Spartan Council

Q1 2022 Spartan Councilors: Afif, BigPenny, bojan, jj, Kain, KALEB, redmarglar, TerraBellus

Grants Council

Q1 2022 Grants Councilors: beachmom, CT, cyberduck, joey, Mike

  • Gitcoin Funding Round 12 paid
  • Grants Council funds community proposal for Uniswap to incentivize liquidity on Optimism and Arbitrum
  • SYNTHETIX NFT project leak
  • TOOLS site is published
  • HERO STATS page in progress
  • Synthetix FUTURES Dune Analytics Dashboard
  • SNXweave
  • Like we said, this project is coming along swimmingly. The next leak we will likely see here is regarding the LORE that is in progress. A tentative release date for the NFTs is the end of Q2.
  • The Grants Council has been in conversation with an Indian University to sponsor and participate in this hackathon.
  • This will take place April 14, 15, and 16.
  • The team has taken proposals for this project to help them translate important Synthetix documents into different languages based on demographic data of website users. They are brainstorming ways to ensure that each translation is 100% precise, because even the slightest deviation could create a huge difference in the way that the information is interpreted.

Ambassador Council

Q1 2022 Grants Councilors: GUNBOATs, Matt, MiLLiE

  • Spartan City Hall with Across Protocol
  • Spartan City Hall with Gearbox Protocol
  • Spartan City Hall with Thales
  • Spartan City Hall with Nuke Vaults
  • Spartan City Hall with Quixotic
  • L222 Tuesday Twitter Space
  • Governance Participation Program (GPP) — rewards & review
  • New Ambassador Council Mandate proposed
  1. Total delegated voting power of all ecosystem governance tokens

What’s next for the Ambassador Council?

The Ambassadors have a couple of things potentially on the horizon:

  • Since the first GPP was just a pilot program, the Ambassadors are hoping to run another iteration of it in the future and enhance the program based on what they learned from the first trial in order to maximize their votes in a targeted way.
  • The Treasury Council is exploring a fast-bridging solution from Optimistic Ethereum to Mainnet, so the Ambassadors referred them to Across Protocol since it’s currently the best solution for Optimistic rollups. Their current design, however, doesn’t support synths, but this integration will hopefully take place once they deploy V2.

Best Memes from Q1

The quarter of course wasn’t without humor, so here are our favorite memes from the epoch:

Afif ❤
Fun fact: “2 weeks” eventually happens!



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store