Comment on page
Overview of the dYdX Foundation
The dYdX Foundation’s purpose is to support and grow every aspect, technical or otherwise, of the current implementation and all future implementations of the dYdX Layer 2 Protocol, including but not limited to the ecosystem related to the dYdX Layer 2 Protocol, and to foster participation from others who seek to support and grow any aspect, technical or otherwise, of the ecosystem or the current implementation and all future implementations of the dYdX Layer 2 Protocol. Specifically, the mandate empowers the dYdX Foundation to:
- Support and finance appropriate research and development activities and projects
- Promote and educate the public on the ecosystem and/or dYdX Layer 2 Protocol
- Issue, receive, spend, and hold digital assets (no speculative trading activities)
- Deploy governance smart contracts and issue governance tokens
- Engage with various businesses, partners, banks, regulators, authorities, and other third parties to the benefit of the ecosystem
- Distribute received contributions and participate in companies
- Acquire, hold or grant trademarks, copyrights, and other intellectual property rights or licenses
- Organize conferences and other events that support and promote the ecosystem and/or the dYdX Layer 2 Protocol
- Conduct and promote all business and / or enter into all transactions, and generally perform all acts as may be necessary, appropriate, incidental to or desirable to assist in achieving or promoting the objects described herein
As the dYdX Foundation assists with the development and growth of the dYdX Layer 2 Protocol’s ecosystem and governance-related matters, dYdX Trading’s core development team will spend its future time focused on, amongst other things, decentralizing the order book and matching engine components of the dYdX Layer 2 Protocol. Although a decentralized order book and matching engine will result in modifications to the dYdX Layer 2 Protocol, there is no expectation that it will enhance functionality of the dYdX Layer 2 Protocol. Instead, it will have the benefit of creating censorship resistance in all aspects of the dYdX Layer 2 Protocol.
The dYdX Foundation does not have a profit-making purpose and does not seek any profits in general. Meanwhile, dYdX Trading will continue to charge maker-taker fees tied to trade volume, which will cover transaction fees for trades, earn revenue, and incentivize more liquidity.
By fostering decentralized governance and empowering traders with powerful, transparent, and open advanced financial products, the dYdX Foundation will help push the dYdX Layer 2 Protocol forwards towards community-led growth, development, and self-sustainability.
The dYdX Foundation's Council members include Arthur Cheong, Rebecca Rettig, and Markus Spillman. This is the first important step in the journey towards the dYdX Layer 2 Protocol’s complete decentralization.