Saturday, June 22, 2024

SNXweave Weekly Recap 120

December 20, 2023

The next publish comprises a recap of reports, tasks, and necessary updates from the Spartan Council and Core Contributors, in addition to the Grants Council and Ambassador Council from final week.

👉TLDR

  • 🚨Spartan Council Election Panel TOMORROW Dec. twenty first at 10pm UTC!! Occasion RSVP right here
  • Andromeda: preliminary launch integrators will embrace Kwenta and Polynomial
  • Infinex is planning an invite-only Alpha launch for Base
  • Parameters will keep tight for this till at the least the start of subsequent yr
  • Markets: a number of integrators are actively testing Perps buying and selling on Base goerli and L1 Perps is pending its closing audit suggestions.
  • SIP-2044: Listing ORDI on Synthetix Perps presentation recap
  • SIP-2045: Listing JITO on Synthetix Perps presentation recap
  • SIP-2046: Listing Axelar Token (AXL) on Synthetix Perps presentation recap
  • SIP-352: Deploy SNX token as xERC20 for crosschain bridging presentation recap

Spartan Council and SIP updates

Current on the December 13, 2023 Spartan Council Weekly Undertaking Sync:
Spartan Council: Adam, Burt, cyberduck, Genefaesius.eth (Gene), Jackson,
Core Contributors: Afif, Cavalier, David, joey, KALEB, Matt, Max, Mike, Nikita, Steve, troy

The ultimate testing of Andromeda is full and the contracts have been deployed to mainnet. SIP-348, which outlines the Andromeda launch configuration, goals for a conservative preliminary deployment principally for integrators to carry out take a look at transactions on mainnet. Launch integrators will embrace Kwenta and Polynomial, and Infinex is planning an invite-only Alpha launch for Base as nicely.

These will probably keep tight till at the least the start of subsequent yr, however there isn’t any set schedule but. Enhancements are additionally being made to the deployment course of and the CCs are aiding integrators on testnet.

And as a fast markets replace, a number of integrators are actively testing Perps buying and selling on Base goerli and L1 Perps is pending its closing audit suggestions.

Subsequent up, there have been just a few SIP shows final week, so let’s briefly overview them:

SIP-2044: Listing ORDI on Synthetix Perps

  • This SIP proposes itemizing ORDI on Synthetix Perps
  • ORDI is a BRC-20 token, which might be the primary itemizing of its variety on Synthetix
  • Adam questioned whether or not an asset on one other chain would create any challenges for the debt pool if your complete token platform had been to fail or be shut down

 — This has not been a priority for earlier listings as they’ve all been ERC-20, and an ERC-20 failure can be a catastrophic occasion for the protocol anyway

 — The publicity can be restricted to the OI cap of that itemizing

 — Burt additionally introduced up that for this itemizing particularly, a bitcoin fork that shut down BRC-20 tokens can be introduced forward of time which might give the council a window to react

 — Adam would nonetheless prefer to have the framework in place earlier than committing to itemizing the asset

SIP-2045: Listing JITO on Synthetix Perps

  • SIP proposes itemizing JITO on Synthetix Perps
  • JITO, which launched simply a few weeks in the past, is a validator governance token for Solana

SIP-2046: Listing Axelar Token (AXL) on Synthetix Perps

  • SIP proposes itemizing AXL on Synthetix Perps
  • Axelar delivers safe cross-chain communication for Web3. Axelar just lately bought listed on Upbit spot market and Bybit Futures which is a chance to broaden providing on Synthetix Perps.

All three of those listings had been picked primarily based on quantity and Perps availability on different exchanges.

SIP-352: Deploy SNX token as xERC20 for crosschain bridging

  • This SIP proposes deploying SNX xERC20 and Lockbox to facilitate bridging between Ethereum and Base and permit for extra quick bridge options whereas retaining sovereignty
  • The most important distinction between this SIP and different bridging proposals up to now is that it proposes creating an SNX bridging customary that will enable the protocol to take care of full management of the token
  • The answer would nonetheless be appropriate with different third-party bridges
  • Adam added that the Spartan Council has determined to place a maintain on any integrations with non-canonical bridges till the CCs are happy with the preliminary testing on Base, so this SIP will likely be on maintain till then

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SIP/SCCP standing tracker:

SIP-348: Allow USDC for Andromeda on Base, Standing: applied

SIP-2044: Listing ORDI on Synthetix Perps, Standing: vote pending

SIP-2045: Listing JITO on Synthetix Perps, Standing: vote pending

SIP-2046: Listing Axelar Token (AXL) on Synthetix Perps, Standing: draft

SIP-352: Deploy SNX token as xERC20 for crosschain bridging, Standing: draft

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