Empowering Dydx Chain: $30M Allocation Signals Milestone Growth And Innovation
The Dydx Foundation announced a significant milestone as it secured a $30 million allocation from the Dydx Chain Community Treasury.
The community’s decisive vote, with an impressive 86.4% participation rate and 98% approval, paved the way for this financial boost, extending the foundation’s operational capacity by an additional three years. The Dydx Foundation strategically earmarked the allocated funds to enhance the governance speed and influence of the Dydx Chain, promote DAO development, and ensure robust technical and strategic integrations for the Dydx Chain’s infrastructure and offerings.
Charles d’Haussy, the CEO of Dydx, expressed gratitude for the unanimous support, emphasizing the Foundation’s crucial role in fostering innovation and governance within the Dydx Ecosystem. This development follows the recent addition of liquid staking support for the native token DYDX, marking continuous progress in Dydx’s ecosystem evolution. The DYDX token has seen a notable 7.3% increase in the past 24 hours and a significant 14.3% growth over the last two weeks.
Clever Robot News Desk 12th February 2024