The Kwenta Interim Council and treasuryDAO have now been established. We'd like to thank everyone that applied for a role in one or both of these governing bodies. The Spartan Council voted on the composition of these councils following the process outlined in SIP-177 and SIP-178. The results have now been finalized.

The Kwenta Interim Council

The Kwenta Interim Council will be responsible for voting on proposals related to the establishment of the Kwenta DAO which includes topics such as the governance framework, tokenomics, staking mechanism and any other proposals that require voting in order to progress the protocol. Council Members will be given one of five NFT's which they will use to vote with via Snapshot.

We'd like to congratulate the community members that have been selected to run the Interim Council. The elected members are as follows:

  • Redmarglar (Community member)
  • JVK (Community member)
  • Adnauseum (Community member)
  • Andrew (Kwenta Core Contributor)
  • db (Synthetix Core Contributor)

treasuryDAO

The Kwenta treasuryDAO will be responsible for managing the treasury, managing funds used for protocol growth, and working with other governing bodies to coordinate on budgets. Transactions managed by the treasuryDAO multisig-wallet will require 2/3 signatures from members. treasuryDAO members will remain anonymous for OPSEC reasons.

Establishing the Kwenta DAO

For next steps, Council Members will be contacted and onboarded into their roles. This will enable the Kwenta community to begin submitting proposals related to the establishment of the Kwenta DAO. A snapshot instance and Kwenta Improvement Proposal (KIP) repository will be set up in order to facilitate this process.

This an exciting step forward as it brings Kwenta closer to its goal of becoming a fully functional independent DAO.

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