dYdX Community Look Kindly Upon $6.6 Million Allocation for subDAO V2

The suggestion made by the dYdX community to start the operation subDAO V2 received 99.95% of the vote on the Snapshot voting page.

dYdX Community Look Kindly Upon $6.6 Million Allocation for subDAO V2

This proposal is supported by the voting authority of Wintermute Governance on behalf of the dYdX Operational Trust (DOT).

What will DOT 2.0 be in Charge of?

DOT 2.0 is responsible for the following:

• In order to expand the Ops subDAO and support the dYdX DAO with its technical needs in the future, looking for an Operations Lead, a Technical Project Lead, and a Site Reliability Engineer.
• Locating an indexer operator and making a contribution to the installation of an indexer in a future protocol iteration.
• Contributing to the operation of the iOS, Android, and website front-ends for a hypothetical future version of the protocol, as well as the deployment of open-source software.
• Increase the number of trustees on the Department of Transportation’s multisig and hire a third-party auditor to assess the department’s finances and performance.

Any funds that remain once the DOT 2.0 mandate is finished will, at the community’s discretion, be transferred to a wallet under its control.

About the Proposal

The community intends to apply to the treasury $6.6 million to cover costs and contributor compensation in order to manage the DOT for the next 18 months. The initial term of the dYdX operational subDAO (OPS subDAO) will expire on June 19 (DOT 1.0), according to the proposal.

About dYdX Foundation

Zug, Switzerland, serves as the corporate headquarters of the autonomous, non-profit dYdX Foundation. The dYdX Foundation will support community-led growth, development, and self-sustainability of the dYdX Layer 2 protocol by promoting decentralized governance and equipping traders with strong, open, and transparent crypto-financial products.