Since launch of the Synapse Protocol, a number of governance initiatives were put forward and voted on by the Synapse DAO.
Any SYN holder can put forward proposals, which will be voted on by the DAO, as long as he has over 50,000 SYN tokens.
In order to be adopted by the Synapse DAO, a proposal needs to gather at least 50%+1 vote of the votes and reach the minimum quorum, which is currently fixed at 10,000,000 SYN tokens
SIP-01: Implement Admin Fee on AMM pools
Implement a 60% admin fee (protocol revenue) on the AMM pools
At launch, 100% of fees went to LPs but as pools became larger, an admin fee was proposed to to start building the protocol's treasury
Change the minimum fees and have a gas airdrop on Arbitrum
By implementing a gas airdrop on Arbitrum (as it did on most chains already), Synapse aims to facilitate the onboarding of new users on the chain and continue offering the best UX when it comes to bridging
SIP-08: Handle Unvested SYN for Former Nerve Liquidity Providers
Distribution of unvested SYN to former liquidity providers of Nerve Finance
As SYN was distributed to NRV tokenholders, proposal suggested a distribution of SYN tokens to former Nerve liquidity providers (than had unvested NRV tokens but not necessarily NRV tokens)
12-month loan of 3m SYN to Amber for market-making purposes on on the following exchanges if/when Synapse is listed on them: Binance, Coinbase, Gate, Huobi, Kucoin, Okex
Improve liquidity of SYN on CEX and facilitates future listings
Recogising the Synapse Foundation, a Caymand Island exempted foundation company
The Synapse DAO will elect five members to a newly-created Synapse Foundation Advisory Board, made up of both community participants and/or non-Synapse DAO participants, for one year terms
The Advisory Board will serve as special advisors to the Synapse Foundation to ensure the Foundation’s actions align with the interests of the Synapse DAO
Allocate $150,000 per year to the Foundation for normal operations.