Boardroom Adds Support for the Synthetix Spartan Council
The Spartan Council, responsible for approving proposed changes to the Synthetix protocol, can now be elected and overseen on the Boardroom platform
The Synthetix community has always been at the forefront of DeFi innovation, and the recent effort to structure its governance with a vision for a Synthetix Spartan Council proves to be just another prime example of a novel mechanism to evolve and scale protocol decisionmaking.
The election for Spartan Council members just went live. Over the last two weeks, nineteen members of the Synthetix community have nominated themselves to be on the Spartan Council, a new component of Synthetix governance, and seven will be voted on successfully for the first Council Epoch, the month of December.
The Council will be responsible for approving proposed changes to the Synthetix protocol. Initially, this will only include SCCPs (i.e. configurable changes, such as changing exchange rates or the target C-Ratio), but the aim is to also include SIPs (i.e. more complex changes to the protocol) in the future.
Here’s a quick summary of the new framework from Kain’s post:
A new Snapshot instance will be created
This instance will have an open-ended proposal to elect seven council members
Voting weight will be based on a users debt at the last fee period
Voting weight will be scaled quadratically
The seven highest vote weights will be the elected council
Council members can be removed via token holders modifying their votes
Every three months a new election will be held for the Spartan Council
The seven council members will then vote directly on SCCPs under these conditions:
One council member one vote
If the constitution of the council changes during a proposal it is invalidated if it would have changed the result
Proposals require a minimum of three positive votes to pass
The minimum proposal length is 24 hours
The pDAO can require a revote at its discretion
The number of seats can be modified via SCCP
To learn more you can read this SIP written by Andy C.
In this effort, the Boardroom team is excited to support the community and the newly elected council members as they look to formalize this process and reach a more efficient deliberation and voting mechanism for SCCP's and in the future, SIP’s:
The Boardroom Synthetix Hub
A basic governance landing page displaying the nomination proposal, recent and upcoming SCCPs on which council members vote, and the list of current council members or nominees.
A proposal details page mirror Snapshot’s UI, displaying relevant information, and allowing the user to cast their vote from this same interface.
A voter information profile page featuring delegate (or a nominee’s) information, social links, associated addresses, and a delegation pitch.
We feel it’s important that delegates have the tools and information they need to properly represent their constituents, and that SNX token holders remain informed in order to act as an accountability mechanism should the council members deviate from their mandate as community representatives. Transparency in information can create a useful balance with managerial efficiency existing alongside community and voter accountability.
Governing anything, including decentralised protocols, is obviously non-trivial and within the Synthetix community we have a strong norm of running low risk experiments to attempt to optimise aspects of the system, this proposal is intended to be aligned with that norm. - Kain Warwick
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