SIP-227: Configuration of New Synths/Futures/Shorts with SCCPs

Simple Summary

The sip proposes to allow the Spartan Council to vote on adding new synths, futures markets and shorts via SCCP, if the feed is already incorporated into Synthetix contracts. One exception being if a feed is active on futures, it cannot be added into spots and shorts without a sip presentation.

Motivation

Currently the addition of new synths, futures markets and shorts requires a sip and a presentation. However, there are situations where new listings are straightforward and might not warrant the slow governance processes of a SIP and presentation. Therefore, this sip proposes to allow governance to list new assets into the platform via SCCP, and in such situations the unanimous consent of all members of the SC is needed. This sip does not preclude that the spartan council can still vote on new listings with a SIP and in such cases, the normal majority governance rule is applied.

The pros:

• Expedited listing of new assets that are not contentious
• Decrease in governance fatigue, due to the need to schedule presentations and annouce it to the community

The cons:

• The sip presentations help communicate to the community the underlyings of governance activity, skipping the presentatiosn and going directly to vote would result in less transparency in the decision process

It is important to mention that adding a feed into synthetix systems will still require SIP presentation, but incorporating an existing feed that is already hooked onto synthetix contracts into a new market can be done via SCCP vote.
One exception to this rule is that feeds available under futures markets cannot be rolled over into spot and shorts without a sip presentation, given the control futures open interest limits provide on the risk exposure of snx stakers.

Technical Specification

NA

Configurable Values (Via SCCP)

NA

Copyright

Copyright and related rights waived via CC0.