Where does Synthetix come from? [SNX] Lag behind the latest SIP-276 proposal

Synthetix is ​​on the verge of hacking after new ads were released on the network. The network is putting forward a proposal to limit SNX’s maximum width to 300 million “very memorable”.

Interestingly, this comes after two failed attempts to increase the proportion of SNX published according to the analytics platform tracks.

These proposals led to an inflationary SNX bonus increase, which put downward pressure on the SNX price. The launch of the .. the launch of the .. the take off of the Synthetix V3 It will introduce new investment incentives.

This is in line with the vision of Kain Warwick, founder of Synthetix, to build a sustainable monetization protocol that will share its revenue with stakeholders.

Good talk, good pay

The Synthetix network has seen a massive increase in size following the recent integration of Atomic Swap with 1inch and Kwenta.

The latest data shows that more than $326K has been accumulated in daily trading fees; Some of them were given to SNX players as sUSD rewards.

Despite the unusual increase in trading volume, there was also an increase in latency attacks on Synthetix. These attacks are not positive but have led to an increase in SUSD bonuses for representatives.

This can motivate players to continue betting after the inflation bonuses expire.

Source: messari

An anonymous cryptocurrency enthusiast who sought an identity empty package On Twitter, he said Synthetix should build a secure chain by partnering with Chainlink.

According to him, this will allow Synthetix to build a sustainable monetization protocol by continuing to distribute sUSD rewards.

Some red flags to keep in mind

As the network attempts to devise its own reward process, there are still some risks that still hinder sustainable growth.

Question marks remain as to whether SNX players will continue to participate solely in sUSD rewards.

Another risk is keeping stakeholders with a security ratio of 400% with less than 150% liquidation.

There is also the risk of a globally shared debt pool where there is an “external” risk of a death spiral.

Source: messari

However, Synethtix’s proposal for the chain has been gaining traction in recent days with Kain Warwick at the center of the activity.

Needless to say, such proposals would receive some backlash from the community. Users have been very vocal about the latest SIP-276 proposal on Synthetix tweets. For now, it is only a matter of time before the winner is determined from among the votes.

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