Synthetix has announced the launch of a new governance cycle and the release of their application chain, SNAXchain, on the Superchain infrastructure provided by Optimism. Nominations for the new governance committee will begin at 5:54:58 UTC on August 31st, lasting for one week, with voting commencing on September 6th at 18:50. The new cycle will officially start on September 16th at 22:46. Nominations must be made on the SNAXchain platform, with users required to deposit a small amount of ETH as gas fees. Voting will continue on chains where users have staked SNX. SNAXchain will serve as a neutral hub for governance and protocol decisions, with potential for future expansion of functionalities. Synthetix has partnered with Conduit and Wormhole for managing the chain's infrastructure and facilitating cross-chain message passing. Additionally, Synthetix emphasized their long-term collaboration with Optimism, seeing the OP Stack as a platform with outstanding contributors and user base, promoting seamless inter-chain user flow in the future.