According to Cointelegraph, the Synthetix protocol restart plan proposed by activist investor Benjamin Celermajer received 99.4% of the votes in the SR-2 proposal on September 25. The proposal aims to overhaul the governance and daily operations of Synthetix to prevent it from becoming a "zombie" chain.

Celermajer pointed out that despite the recent recovery of the crypto market, Synthetix has failed to seize opportunities due to governance and operational issues, resulting in delayed product launches and a lack of vision. The SR-2 proposal includes redesigning the SNX token, adding revenue capture methods, and deploying new contracts on Ethereum and Solana.

The proposal also plans to centralize governance to a seven-seat Spartan Council to improve decision-making efficiency. Celermajer believes that this will help Synthetix quickly launch new products and return to its leadership in the DeFi field.

Currently, Synthetix's total locked value (TVL) is $262 million, down 89% from its all-time high in 2021.