SYNC Network is pleased to announce the New Community Governance System. This is a huge leap for SYNC and the community. Through governance all SYNC token holders will be able to make proposals. CryptoBond holders are the voting class where they receive one vote per CryptoBond. In order for a community vote to pass, a minimum of 20% of total CryptoBond holders are needed by the time deadline to pass a proposal. From there the proposal gets vetted by the CORE team, and the proposal gets passed to a second voting round after being reviewed. If the proposal is not realistic, the CORE team will respond to the community, where it can be amended and put up for another vote. This process may change, but for now we are confident that it is fair, and conforms to other standards in the community.
The CORE team: SYNC is also delegating control of the CORE team to the community. We are actively looking for applications for devs, treasurers, marketers, and any other skill-sets that would be beneficial to the project. These positions will be paid and the amounts they will be paid will also be community governed. The CORE team will also run the multi-sig treasury from the ETH that has been being collected from the FRS. Please contact our admins for information on applying.
The first vote is now live on our new governance system will be extending gas refunds to the ‘add liquidity’ function. It is a quick impromptu vote organized by our current CORE team to address the recent high gas fees. We realize that with gas fees through the roof, CryptoBond creation has been extremely expensive, and we want to incentivize CryptoBond building.