If you’re reading this, you probably already know 2019 was a huge year for Synthetix. With the community’s growing involvement, the team delivered a consistent stream of protocol improvements and saw major traction across a range of metrics. To recap, here’s an incomplete list of some of the bigger items that were delivered in 2019:Nearly $1b in trading volume on Synthetix.Exchange (since surpassed) Rapid growth in the SNX collateral value SNX staking rewards launched, leading to 80% staking participation Uniswap staking rewards, leading to the largest liquidity pool on Uniswap Inverse Synths allowing traders to take short positions The first phase of decentralised governance The first phase of decentralised oracles Numerous dApp upgrades Community-led changes to the monetary policy Opening up development to the community through bounties, Gitcoin, etc.
We’re pleased with what we achieved, but it will mean very little unless we continue to deliver in 2020. This post will outline everything we currently plan to deliver this year, including some of the motivations for our choices. As part of the process for determining the priorities this year, we ran a poll among in Discord to signal what should be focused on, both at a high level and in more detail. We’ve used that feedback to shape this plan.
This article goes hand-in-hand with a partner piece written by Kain about the current state of the Synthetix system, which you can read here. That post provides context on why we’re prioritising specific categories and features, if you wish to understand the reasoning behind these items you should read it first. It also outlines the current risks within the system that must be resolved before we can gain a substantial share of the trading market. Solving these issues will be the focus for the next few releases.
Most of the items in the next three releases have been written up as either issues or SIPs in our public Github ...