dYdX Foundation receives $86 million from community treasury

A nonprofit organization that supports the dYdX protocol has secured 30 million in DYDX ($86 million) from the dYdX community treasury following the latest DAO vote.

The dYdX Foundation is a Swiss entity designed to support the growth of the dYdX protocol ecosystem through community and developer engagement, and also maintaining decentralized governance. 

This latest fundraise will be used by the foundation to hire and retain talent, while simultaneously scaling the dYdX chain. 

In an interview with Blockworks, David Gogel, the vice president of strategy and operations at the dYdX Foundation, said this latest community fundraise comes after two and a half years of operation. 


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