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Synthetix Capella release is coming on December 12

By Inkarias - 2019-12-08

Synthetix is a platform built atop Ethereum that has been designed to host on-chain synthetic assets, or Synths, that are ERC20 tokens tied to the value of real-world assets like stocks, indices, and more. Next Thursday, the core team of Synthetix will be deploying a new system upgrade to launch some of the recently approved SIPs (Synthetix Improvement Proposals (SIPs) describe standards for the Synthetix platform, including core protocol specifications, client APIs, and contract standards).

The team will also be taking down the system for several hours to deploy this release to ensure everything is working fine in the ecosystem. During this time, users will be unable to interact with the system in any way, including using Mintr or Synthetix Exchange, and transferring SNX or Synths. There is currently no estimation on the time required to complete the release, and more information will be shared in due time. The features that will be included in this upcoming release are the following:

SIP-23: This SIP introduces inflation smoothing. This is an amendment to the current inflationary monetary policy which halved the weekly distribution each year. Instead, this new model smooths the inflation rate to 1.25% per week.
SIP-24: This SIP adds terminal inflation to the monetary policy. Previously, the inflation was scheduled to stop in March 2024. This new SIP adds a perpetual 2.5% annual inflation, beginning on September 7, 2023, the 233rd week on the SNX inflation schedule.

As these are changes to the monetary policy, the team will be publishing a blog post next week explaining the implications with a lot more details. This release is called ‘Capella,' which like all releases is named after a star (in order of visual magnitude).

More information at https://www.synthetix.io/