A much needed shakeup in coming to @synthetix_io. A thread on how we got here and what comes next. 👇
The Synthetix project has many firsts to its name. The first yield farm, the first EIP style governance for DeFi. The first governance council. The first DeFi architecture to leverage proxies. The first to deploy to OP. Yet its relevance has declined over the years.
Synthetix was never great at marketing, it’s been good at memeing new narratives into existence though. But it’s been a while since it’s been at the start of a new wave.
The issue I believe is coordination, there are too many contributors spread across the world and this has created an environment where the incentives are not powerful enough to deliver on novel opportunities. This has to change.
Synthetix needs to reinvent itself once again, but this can only happen if it gets back to its early startup roots. I believe Fenway is the right person to transform the project back into a lean and efficient machine.
I’ve agreed to join the new council as an advisor, however, my primary focus has been on @infinex_app for the last 18 months and this won’t change. My job as an advisor is to help inject a little more variability into the project.
Synthetix has always been best when it’s been taking risks and I will push hard to see it return to those roots. The skill I think I can bring here is pulling together a lot of threads and helping to define the underlying pattern.
My role in the DeFi renaissance is to build a consumer interface that can show the world how amazing DeFi has become over the last five years. Synthetix is just one component in that product suite. So is @aave and @Uniswap.
There are also many emerging DeFi ecosystems, particularly on @solana. One of my goals is to ensure that the first Solana transaction that many eth maxis do, happens via Infinex. We are going to unite the chains.
We have been building DeFi for enthusiasts for too long, it’s time to pivot to building for mass adoption, we are ready, the tech is ready, and the users are ready.
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