#DYDX

The dYdX community vote has decided to allocate 4 million USD from the Treasury subDAO assets to fund ecosystem development projects...

The company behind the decentralized exchange (DEX) dYdX, the dYdX Foundation, announced that its community has approved the allocation of 4 million USD from the Treasury subDAO assets to support the remaining 14 months of the Ecosystem Development Program (DEP).

The allocated funds will be reserved for the DEP and paid out in a timely manner based on the program's financial needs. This approach allows the DEP to better plan its budget and maintain support for contributors, while enabling the Treasury subDAO to continue utilizing unused capital for its intended purposes. By utilizing the assets of the Treasury subDAO, rather than requesting additional DYDX tokens from the community treasury, this financing mechanism transforms the DEP into a more sustainable model, allowing the protocol to distribute income towards growth and maintenance through the DEP.

The previously submitted budget request of 12 million USD was approved in March but failed to cover the resources needed for the growth and development of the dYdX chain. The scale of contributor participation and the emergence of new initiatives such as market mappers, affiliate programs, and other large efforts exceeded initial expectations. The newly approved funding will primarily support grants and other projects, although further funding may be needed to maintain support at the current level for the ecosystem.

The vote passed