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Status change and fix formatting error #2107

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Sep 30, 2024
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Status change and fix formatting error #2107

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6 changes: 3 additions & 3 deletions content/sips/sip-408.md
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sip: 408
title: Synthetix Referendum
author: Fenway
status: Draft
status: Implemented
created: 2024-09-17T00:00:00.000Z
network: Ethereum
type: Meta-Governance
Expand All @@ -21,8 +21,8 @@ The SIP aims to improve the governance structure of the Synthetix protocol by in

## Motivation
To make Synthetix governance more robust, there must be a mechanism for SNX token holders to vote on proposals (i.e. Referendums). There are two important scenarios where a referendum can be effective and improve the robustness of Synthetix Governance:
--1. The Spartan Council can refer proposals of the utmost significance to the ultimate Synthetix stakeholder, the SNX token holder.
--2. Proposals that may conflict with or not be aligned with the perspectives or motivations of the Spartan Council can be proposed via a referendum.
1. The Spartan Council can refer proposals of the utmost significance to the ultimate Synthetix stakeholder, the SNX token holder.
2. Proposals that may conflict with or not be aligned with the perspectives or motivations of the Spartan Council can be proposed via a referendum.

## Specification
A SNX token holder referendum can be proposed by any community member. For an SR to be merged and included on the SIP website, proof of a soft quorum (i.e. 10m SNX - configurable by SCCP) must be provided to a SIP editor. This prevents spam referendums and ensures community discussion is focused on impactful and supported change.
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