It was announced on Sunday, September 12th 2021, that Kwenta had officially become an independent protocol. The Spartan Council passed SIP-179 which specified that Kwenta would separate from Synthetix to establish its own governance and tokenomics framework. This milestone was affectionally named Kindependence (or Kwentapendence) day by Kwenta community members and marks our entry into the next phase of Kwenta's transition to independence.

To enable to the Kwenta community to make decisions on how the Kwenta DAO should operate while staying aligned with the goals of Synthetix, the Kwenta community will coordinate with the Spartan Council to establish an interim governing body and treasuryDAO. If you are a Synthetix and Kwenta community member, you can apply to become one the five interim counsel members or one of the three interim treasuryDAO members by sending in a submission to the ballet boxes below. Anyone can send in a submission but ultimately the Spartan Council will determine who from the submissions will compose the interim governing bodies.

Kwenta Interim Council Ballet Box

Kwenta Interim Council members will be responsible for voting on Kwenta Improvement Proposals (KIPs) regarding the Kwenta governance framework, tokenomics, and staking mechanism, as well as any other proposals relevant to the establishment of the DAO. Read SIP-178 for more details.

To apply for the interim council, apply here:
Kwenta Interim Council Ballet Box

Kwenta Interim treasuryDAO Ballet Box

treasuryDAO members will manage early funding with the core contributors as well as a the Kwenta token treasury once the token has been launched. Members selected by the Spartan Council to operate the treasuryDAO will remain anonymous for security purposes. Read SIP-177 for more details.

To apply for the interim treasuryDAO, apply here:
Kwenta treasuryDAO Ballet Box

Spartan Council Decision Making Process

Once the Ballet Boxes have been open for a period of one week, the submissions will be gathered and sent to the Spartan Council. Spartan Council members will review the list and individually signal which five interim council members and which three interim treasuryDAO members they feel are the best fit; the applicants with the most cumulative support from Spartan Council members will be selected for the roles.

Join the Kwenta Community

If you haven't already, join the Kwenta community on Discord.

To be the first to learn about new updates to Kwenta, follow us on Twitter.

To trade synthetic assets and soon futures, visit Kwenta.