The largest platform for decentralized derivatives, Synthetix, has switched to a decentralized management model. This is reported in the project's blog.

Now the organization behind the project, the Synthetix Foundation, is subject to liquidation. Instead, it will be managed by three decentralized Autonomous organizations (DAO):

ProtocolDAO-controls Protocol updates and configuration;
grantsDAO — responsible for the funding of various initiatives;
synthetixDAO-payments with platform participants.
Against the background of the news and the General upward movement of the market, the Synthetix Network token has grown by almost 16% over the past day.

The project also managed to return to the third place in the DeFi Pulse rating:

The amount of Ethereum blocked on Synthetix smart contracts is $477.2 million.