The proposal for Synthetix v3, a redesign of the synthetic asset protocol Synthetix, has been approved by a vote of the Spartan Council, the Synthetix governance committee. Synthetix employs a council-based governance framework, where the Spartan Council is the central governing body and votes on overall improvement proposals. The council consists of eight members. All eight members voted in favor of the Synthetix v3 proposal. The new design of Synthetix v3 will have a more modular underlying mechanism, with features such as multi-collateral staking, customizable debt positions, and permissionless synthetic assets. The proposal includes dividing the debt pool into separate marketplaces capable of facilitating swapping and minting/burning snxUSD, accruing net debt to corresponding underwriting stakers. The new framework will allow underwriters the flexibility to select markets to underwrite and manage market risk profiles, enabling customized and efficient debt management.