Synthetix DAO wants to create an independent work group

Synthetix DAO wants to create an independent work group

The decentralized autonomous organization (DAO) of the derivatives liquidity protocol Synthetix is currently voting to form an independent work group to serve as stewards within the ecosystem.

The five-man team consisting of community members will work with protocols that are building on the open-source Synthetix ecosystem. The activities of the independent work group are expected to include engaging with external projects and communities building on Synthetix, providing support and bringing potential integrators up to speed on how the protocol works, participating in the governance of external protocols, and collaborating with other Synthetix DAO bodies.

The new Work Group would independently bridge integrations between external protocols, allowing them to seamlessly navigate the Synthetix open-source environment.

According to the proposal, the Synthetix protocol consists of several layers of smart contracts that give other projects and protocols the freedom to “permissionlessly” integrate. Despite the open-source nature of the project, the proposal claims that integration can quickly become tricky “and not immediately obvious for protocols that aren't familiar with Synthetix architecture.” The working group is supposed to provide some assistance in this regard.

As Synthetix is developing into a transparent and inter-operable on-chain liquidity layer, its governance must also ossify to be aligned with the resiliency of the protocol. An independent Work Group is suitable for the level of decentralization that Synthetix is at and would remove the information asymmetry that integrators face when building on Synthetix's open-source infrastructure,” the proposal stated.

Off-chain voting will stay active until December 8. But as of press time, 85% of the community had voted in support of the idea.

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