Synthetix is about to launch the application chain SNAXchain

On September 5th, Synthetix announced the upcoming start of a new governance cycle and the launch of its application chain SNAXchain on Optimism's Superchain infrastructure. It is reported that nominations for the new round of governance committee will begin at 5:54:58 on August 31st Singapore time, lasting for one week. Voting will start at 18:50 on September 6th, with the new cycle officially starting at 22:46 on September 16th. Nominations need to be made on SNAXchain, and users need to cross-chain a small amount of ETH as gas fees. Voting still takes place 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 future expansions in functionality. The project collaborates with Conduit and Wormhole to manage chain infrastructure and implement cross-chain message passing respectively. Synthetix emphasized its long-term partnership with Optimism, believing that OP Stack has excellent contributors and user base; future interoperability will facilitate seamless flow between chains.