Governance

Community-first.

Governance Structure

The purpose of this governance framework is to outline the required governance processes for Syno Finance DAO. This framework will ensure that all members of the DAO have a clear understanding of how the governance system works and how proposals can be put forward and voted on.

Phase 1: Syno Commonwealth Forum

Proposals will start on Commonwealth Forum. These are proposals that require feedback and must have a 24 hour minimum & 48 hour recommended discussion phase before moving forward. During this phase, all members of the Synonym Finance DAO are encouraged to provide feedback, suggestions, and any concerns related to the proposal.

Phase 2: Syno Snapshot Proposal

Once the required duration for the proposal is over, we move to the Snapshot. These are finalized proposals ready for implementation and will be reposted on Commonwealth with any revisions (if necessary) based on feedback from the previous phase. It will also be posted on Snapshot for voting, which requires a 48 hour minimum and 72 hour recommended voting phase.

Phase 3: Implementation

If the majority of Snapshot votes are in favor of the proposal, the proposal will be implemented.

If the majority of the Snapshot votes are against the proposal, the proposal will not be considered closed and will not be implemented.

Proposal Removal:

Proposals that are unreasonable or attempt to harass or troll others will be removed. This is to ensure that the Syno Finance DAO remains a positive and productive space for all members.

Types of Proposal:

Proposal to update risk parameters of an asset;
Proposal to list/remove the asset;
Proposal to allocate $SYNO Emissions to the asset;
Proposal to update SYNO/tSYNO/vlSYNO tokenomics;
Others that will contribute towards the future growth of the protocol.

Voting

SYNO does not have any governance rights.
sSYNO has 1 vote per every sSYNO.
vlSYNO has 10 votes per every vlSYNO
tSYNO holders are able to participate in key governance processes as well, due to the 15 month staking timeline.

For the avoidance of doubt, the community does not have legal control over any matters relating to the Company (or any of its affiliates) or any of its assets, or any of its affiliated companies (including without limitation the selection of governing board of the relevant company, over corporate matters, development direction, specific projects, or deployment of that company's assets, which shall be the final responsibility of the governing board of the relevant company).

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Last updated 5 months ago

Governance Structure

Phase 1: Syno Commonwealth Forum

Phase 2: Syno Snapshot Proposal

Phase 3: Implementation

If the majority of Snapshot votes are in favor of the proposal, the proposal will be implemented.

If the majority of the Snapshot votes are against the proposal, the proposal will not be considered closed and will not be implemented.

Proposal Removal:

Proposals that are unreasonable or attempt to harass or troll others will be removed. This is to ensure that the Syno Finance DAO remains a positive and productive space for all members.

Types of Proposal:

Proposal to update risk parameters of an asset;

Proposal to list/remove the asset;

Proposal to allocate $SYNO Emissions to the asset;

Proposal to update SYNO/tSYNO/vlSYNO tokenomics;

Others that will contribute towards the future growth of the protocol.

Voting

SYNO does not have any governance rights.

sSYNO has 1 vote per every sSYNO.

vlSYNO has 10 votes per every vlSYNO

tSYNO holders are able to participate in key governance processes as well, due to the 15 month staking timeline.

For the avoidance of doubt, the community does not have legal control over any matters relating to the Company (or any of its affiliates) or any of its assets, or any of its affiliated companies (including without limitation the selection of governing board of the relevant company, over corporate matters, development direction, specific projects, or deployment of that company's assets, which shall be the final responsibility of the governing board of the relevant company).