#dYDX Significant good news, it's about to take off

The dYdX community voted to allocate $4 million from the Treasury subDAO assets to fund ecosystem development projects...

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

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

A previously submitted budget request of $12 million 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 funds will mainly support grants and other projects, although further funding may be required to maintain support at the current level for the ecosystem.

Voting passed