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Synthetix investors' proposal for "radical reform" wins 99% vote in favor
2024-10-01 06:04
Odaily News An activist investor's plan to completely "reboot" DeFi protocol Synthetix and save it from becoming a "zombie" chain has received more than 99% voter support. In the SR-2 proposal filed recently, Benjamin Celermajer outlined a plan to "thoroughly reform" and improve Synthetix's governance and daily operations. Celermajer said that despite the recent recovery of the broader crypto market, Synthetix has failed to build momentum or witness any sustained adoption due to major flaws in its governance and daily operations. He added that this has caused the Synthetix protocol to miss several major opportunities and its development has been harmed by delays in product launches and a "lack of vision." As of press time, the proposal has received almost unanimous support from SNX holders, with 99.4% of the 200 holders (18 million SNX) voting in favor of the proposal. (Cointelegraph)