Synthetix (SNX) Founder Proposes Ending High Yield Returns With 300M Capped Supply #web3GrandPappa #mimeXmime

Synthetix founder Kain Warwick has submitted a proposal to turn off SNX’s high yield returns and cap its supply at 300 million tokens. According to Warwick, the just proposed Synthetix Improvement Proposal (SIP) will end SNX inflation at 300 million tokens in ten weeks.

The SIP 276 proposal titled “Turn off the money printer” will cap the token supply and make any decisions on token supply a meta-governance one. This means that future changes in SNX supply will require the unanimous decision of the Spartan council. Presently, SNX supply is around 293 million. So there will still be ten more fee periods where SNX would be minted and distributed until the supply reaches 300 million.

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