Vol. I, No. 1 Monday, August 31, 2026 Synthetix — Governance Rights Report
Executable rights. Machine-readable determinations.

Probity Institute

Synthetix — Governance Rights Report

Verdict

Synthetix

SNX — Governance Rights Report
Tier 2 S1 — Token-Governed Protocol Assessment as of 2026-10-01
GSA-1 fail GSA-2 near-miss GSA-3 near-miss GSA-4 fail GSA-5 fail GSA-6 fail GSA-7 fail GSA-8 fail

Why this rating: SR-2 'Synthetix Reboot' consolidated all councils into a single 7-seat Spartan Council (4 elected seats — Treasury + 3 Advisory — elected by SNX stakers on 6-month terms; Strategy/Technical/Ops seats hired by the elected seats). On-chain council elections + Snapshot (snxgov.eth) for SIPs/SCCPs; treasury administered by the Treasury seat via multisig — procedural rights real, economic rights roadmap-only. GSA-3 near-miss: 2026 roadmap commits ALL fee revenue to SNX/sUSD buybacks (Q1 2026); Blockworks 2026-H2 transparency filing: no formalizing SIP located — not contract-verified; Historic V2 fee-pool-to-stakers contract mechanism superseded by SIP-423 staking reform (sUSD retirement)

Where to Vote

Proposal History

No proposal history is available for Synthetix in the current scanner window.

Metrics

Curated metric — next quarterly update. On-chain revenue, treasury, and distribution-enforcement reads are not yet wired for this DAO's space in the Institute's state files; the quarterly re-assessment cycle will populate this block.

Structure & History

Structure: S1 — Token-Governed Protocol.

S1-S5 protocol business structure taxonomy, as-of 2026-08-27 (structure taxonomy date); scores as-of 2026-10-01 (first scored 2026-07-23; quarterly recheck #2, cycle 2026-08-31 -> 2026-10-01)

2026-09-01 recheck — what changed

Source: https://sips.synthetix.io/srs/sr-2/

First scored 2026-09-01; rechecked 2026-09-01.