1 week Ago By Alisa Davidson
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read article for precise information. In Brief dYdX Foundation has released a proposal to gather community feedback on the decision to ratify the dYdX Treasury SubDAO Articles of Association and replace one dYdX Treasury SubDAO Foundation Class B Director.
Organization behind the decentralized exchange (DEX) , the dYdX Foundation, has released a proposal to gather community feedback on a decision regarding the dYdX Treasury SubDAO. The proposal includes a vote on whether the community should ratify the dYdX Treasury SubDAO Articles of Association and replace one Class B Director of the dYdX Treasury SubDAO Foundation. The vote is currently active and will close on April 14th.
As outlined in the proposal, three main updates are up for community approval to be formally ratified. ⛓️ On-Chain Vote Created ⛓️ Should the community vote to ratify dYdX Treasury SubDAO Articles of Association, and replace one dYdX Treasury SubDAO Foundation Class B Director? Vote ends on April 14, 2025 at 08:41 UTC* ➡️ Among them, the dYdX Treasury SubDAO Articles of Association (“Articles”) will be updated to better align with the operational structure of the dYdX Treasury SubDAO Foundation. Similar to the multi-sig process, there will always need to be at least one director from each class present for a board resolution to be considered valid.
The draft of these Articles is available on IPFS, and the dYdX community is being asked to approve their ratification. If the proposal is successful, the Articles will be formally adopted. Furthermore, the dYdX Treasury SubDAO Foundation is currently governed by six directors, consisting of three community directors and three kpk signers.
Due to recent organizational changes within kpk, the is being asked to approve the replacement of one of the kpk signers as a Class B Director. If the proposal passes, the Director will be replaced in both legal and operational roles as a signer. The dYdX Buyback Program, which allocates 25% of dYdX’s net protocol revenue to repurchase DYDX tokens on the open market, has already been approved.
However, the broader dYdX community, including the Operations SubDAO, also uses DYDX tokens to fund its activities. The community is now being asked to approve an expansion of the Buyback Program to include over-the-counter (OTC) buybacks. This would enable the to support dYdX DAO’s cash flow management and reduce transaction costs associated with DYDX token trading.
If the proposal is successful, the scope of the Buyback Program will include OTC buybacks. According to the dYdX Foundation, there are two separate text proposals to consider. Proposal #1 seeks to ratify the dYdX Treasury SubDAO Articles of Association and replace one Class B Director of the dYdX Treasury SubDAO Foundation.
Proposal #2 aims to expand the Buyback Program’s execution venues. In line with the , please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts.
For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3.
With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance. Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
.
