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Merge pull request #125 from AngelDeBenji/Synth-Update-W17
Create Synthetix Update Week 17 2021 29-04-21.md
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# Governance Update
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## Spartan Council - Recent Votes
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SIP-125: Adding US Stock Index ETFs, S&P, NASDAQ & RUSSEL | Product | [View](https://app.boardroom.info/snxgov.eth/poll/QmXpAbgCFirKKcVNDGJCjM96EXSSVtS8PWyav31fdut6xb) |
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Summary:\
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SIP-125 proposes to add the “creme de la creme” of Global Stock Indicies to Synthetix, mainly the S&P500, NASDAQ 100 and RUSSEL 2000
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Outcome: Approved
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Opened: Apr 26\
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Closed: Apr 29
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SCCP-97: Increase `migrateEntriesThresholdAmount` to SNX 164,500 from SNX 1,000 | Product | [View](https://app.boardroom.info/snxgov.eth/poll/QmespeeRR5xWHhVnsTn99biX3zB1Mt6GVRdK5D2UChWHWc) |
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Summary:\
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SCCP-97 proposes to increase the migrateEntriesThresholdAmount to SNX 164,500 to allow for migration of few addresses that are yet to migrate to the new escrow contract
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Outcome: Approved and Implemented
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Opened: Apr 26\
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Closed: Apr 29
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SIP-117: Support Synth Exchanging on L2 | Parameters | [View](https://app.boardroom.info/snxgov.eth/poll/QmXxFwm7TnG9A9LGgW7oVrRf73cxLskppmuqSGt7exA9Mk) |
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Summary:\
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SIP-117 is a significant milestone and achievement for Synthetix. It is the result of a long-term vision of low latency atomic swaps and countless hours of hard work
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Outcome: Approved
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Opened: Apr 21\
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Closed: Apr 24
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SIP-116: Optimism bridge update | Parameters | [View](https://app.boardroom.info/snxgov.eth/poll/QmV43TbBf8LuwwgJbfWARDLCWRtUFGXtXswLoiTVX3hNZR) |
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Summary:\
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SIP-116 proposes a significant to upgrade the L2 bridge contract
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Outcome: Approved
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Opened: Apr 24\
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Closed: Apr 21
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SIP-124: Formalising the protocolDAO | Meta | [View](https://app.boardroom.info/snxgov.eth/poll/QmcMCDLnYjxZfgGGuSit1cX48KmPFn4LsNNijd7K3h9JWq) |
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Summary:\
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SIP-124 formalizes the pDAO structure and sets out guidlines on the path to becoming a pDAO signer and the path to being removed from pDAO
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Outcome: Approved
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Opened: Apr 21\
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Closed: Apr 24
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SCCP-96: Increase L2 Target C-Ratio To 1000% | | [View](https://app.boardroom.info/snxgov.eth/poll/QmS6YmNQCs8zPeuG1ivNzCSxQZtQCbUyuzqYVjfWETUJr6) |
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Summary:\
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SCCP-96 proposes to increase the L2 target c-ratio to 1000%
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Outcome: Approved
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Opened: Apr 21\
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Closed: Apr 24
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| project swap eth gas comittio 0 | Product | [Vote](https://app.boardroom.info/snxgov.eth/poll/QmWcuDmV3s4N5zqDfcE3HZoDpmHMjDrySFJjvDpKpwVAkD) |
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Summary:
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Project swap eth gas commission 0
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Opened: Mar 4th\
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Closes: Apr 23rd
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## New Proposals (Pending)
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| SIP 133: Add DOGE as Crypto Synth | Product | [View](https://sips.synthetix.io/sips/sip-133) |
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Summary:\
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Dogecoin has risen to a top 10 spot in the crypto market, and now boasts very high volume on centralized exchanges, in the multi-billions per day on average. With an sDOGE synth, Synthetix can capture a sizeable share of that market, generating more fees for the Synthetix protocol. The synth would pair nicely with renDOGE, a 1:1 Dogecoin token on Ethereum backed 1:1 by the Ren project, enabling highly liquid cross-pool synth swaps.
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| Name | Category | Link |
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| ------------- |:-------------:| :-----:|
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| Rebalance sDEFI and iDEFI | Product | [View](https://sips.synthetix.io/SCCP/SCCP-98) |
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Summary:\
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The SCCP proposes the addition of the following assets: Terra’s LUNA, Thorchain’s RUNE, 0x’s ZRX, Alpha Finance’s ALPHA, Alchemix’s ALCX, Cream’s CREAM
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