TechFlow reports that Synthetix has announced an upcoming new governance cycle, along with the launch of its application-specific chain, SNAXchain, on Optimism's Superchain infrastructure. The nomination period for the new Governance Committee will begin at 05:54:58 UTC+8 on August 31 and last for one week. Voting will commence on September 6 at 18:50, with the new cycle officially starting on September 16 at 22:46. Nominations must be submitted on SNAXchain, requiring users to bridge a small amount of ETH as gas fees. Voting, however, will continue to occur on the chain where users stake their SNX. Synthetix stated that SNAXchain will serve as a neutral hub for governance and protocol decisions, with potential for future functional expansion. The project is collaborating with Conduit and Wormhole to manage chain infrastructure and enable cross-chain message passing, respectively.
Synthetix emphasized its long-term partnership with Optimism, highlighting OP Stack’s strong contributor and user base, and noted that future interoperability will facilitate seamless user movement across chains.
