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Create Synthetix Update Week 12 2021 03-25-21.md
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# Governance Update
## Snapshot - Spartan Council: Live Votes
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| project swap eth gas comittio 0 | Product | [Vote](https://app.boardroom.info/snxgov.eth/poll/QmWcuDmV3s4N5zqDfcE3HZoDpmHMjDrySFJjvDpKpwVAkD) |
Summary:
Project swap eth gas commission 0
Opened: Mar 4th\
Closes: Apr 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-90: Update priceDeviationThresholdFactor to 1.6 | Product/Parameters | [Vote](https://app.boardroom.info/snxgov.eth/poll/QmXydmirukeYDC9JA77zbC4CyDVh6XKH7z5kpPxsVZPeuw) |
Summary:
Given the imminent increase in the number stock synths, this sccp proposes to tighten priceDeviationThresholdFactor to a value of 1.6x, in order to safeguard against the event of a significant increase in synth price following a reverse stock split.
Opened: Mar 22nd\
Closes: Apr 25th
## Snapshot - Spartan Council: Recent Votes
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP 114: Adding FAANG Synths | Product | [View](https://app.boardroom.info/snxgov.eth/poll/QmUJToWFi2FGW465eiYpXvrtrMRhH1vwRUrj27TshVqZFL) |
Summary:\
SIP-114 proposes to bring Facebook, Amazon, Apple, Netflix, and Google to Synthetix
Outcome: Approved
Opened: Mar 20th\
Closed: Mar 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP 115: Adding sMSFT Synth | Product | [View](https://app.boardroom.info/snxgov.eth/poll/QmUAUXusHRDoucLFP5cPW6jtgTFvFAU3SM4zWrNNuNbEg5) |
Summary:\
SIP-115 proposes to bring Microsoft to Synthetix
Outcome: Approved
Opened: Mar 20th\
Closed: Mar 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP-113 Re-enable sKRW | Product | [Vote](https://app.boardroom.info/snxgov.eth/poll/QmemNBubbHYCGqghtovR6fB9fQWTond5bf8ZsobnXLCTsn) |
Summary:
SIP-113 will reenable the previously deprecated sKRW Synth that tracks the price of the Korean Won.
Outcome: Approved and Implemented
Opened: Mar 18th\
Closes: Mar 21st
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-89: Redirect current iETH 16K SNX incentives to sETH short incentives | Treasury/Incentives | [Vote](https://app.boardroom.info/snxgov.eth/poll/Qmd5GY3RaAzDmZ9rUU818n5UJTWVCfhUrpfaNo7fnouiX9) |
Summary:
SCCP-88 proposes to redirect the 16K SNX incentive from the weekly inflationary supply to the ShortingRewardssETH contract instead of the iETH Staking Rewards contract. This follows recent changes making the traditional shorting mechanism available with sETH shorts on kwenta.io/shorting
Outcome: Approved
Opened: Mar 17th\
Closes: Mar 20th
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-88: Increase loans and shorts cap to sUSD 50 million | Product/Parameters | [Vote](https://app.boardroom.info/snxgov.eth/poll/QmbzjH6GZJPN3JDpDqEMy2MLbJoFcisbKat2kbCthSaSZL) |
Summary:
SCCP-88 proposes to increase the cap on borrows and shorts to sUSD 50 million from sUSD 40 million
Outcome: Approved
Opened: Mar 16th\
Closes: Mar 19th
## New Proposals (Pending)
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP 125: Create synths for top traded US stock index etfs | Product | [View](https://sips.synthetix.io/sips/sip-125) |
Summary:\
This SIP proposes to add 3 new synths sSPY, sQQQ and sIWM, consisting of the top 3 US Stock ETFs’: S&P 500, Nasdaq 100, and Russel 2000.