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The dYdX community is moving its treasuries from Ethereum to the dYdX Chain to facilitate governance and fund initiatives, with a positive community response and successful snapshot vote for the transition from v3 to v4. Concerns about testnet issues and Hedgies were raised, but the overall sentiment is supportive, and next steps include an on-chain vote and further proposals on the dYdX Chain.
The discussion revolves around a proposal for the migration of the dYdX community and rewards treasuries from Ethereum to the dYdX Chain. This migration is part of the transition from dYdX v3 to v4 and involves a multi-step process that includes winding down v3 rewards, upgrading treasury contracts, and bridging vested ethDYDX tokens to the new chain. The proposal aims to enable governance on the dYdX Chain to fund various initiatives and ensure a smooth transition for users.
The community's reaction to the proposal has been generally positive, with several members expressing support for the migration process and the importance of a well-planned bridging process for the dYdX ecosystem. Concerns were raised about unresolved testnet issues and the future of Hedgies, but the latter was not addressed in the context of the current proposal. The snapshot vote for the proposal was successful, and an on-chain vote on Ethereum was targeted for November 12th, with further steps to be proposed on dYdX Chain.
We have not been able to determine whether this will be negative.
Posted 2 months ago
Last reply 13 days ago
Summary updated 10 days ago
Last updated 04/12 00:20