Synthetix Dissolves Foundation, Decentralizes into 3 DAOs | Crypto Briefing

Key Takeaways

  • Decentralized finance protocol Synthetix has decommissioned the Synthetix Foundation.
  • The non-profit governing body has been stripped of all power, which has been granted to three distinct DAOs.
  • This is an important step both for Synthetix and the entire DeFi market, as it shows that more protocols are moving towards complete decentralization.

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