DYdX Considering Launch Of More SubDAOs
DYdX, the decentralized platform known for its perpetuals contracts, is now discussing the creation of more subDAOs to make management of the ecosystem even more decentralized.
A post from Fox Labs Digital, an Australian-based marketing agency, suggested divvying up oversight responsibilities to several smaller decentralized autonomous organizations (DAOs).
The discussion of going beyond the current two current subDAOS – one for dYdX’s grants program and the other for its operational activities – comes as the dYdX community is preparing to upgrade on the Cosmos blockchain to its fourth version (v4). The goal is to make dYdX “a fully decentralized version of the protocol,” according to a blog post.
Moreover, according to a different governance post by the dYdX Foundation, an independent not-for-profit organization aimed at fostering decentralized governance, the operations subDAO is set to expire on June 19. With the imminent launch of v4 and the expiration of its operations subDAO, the “dYdX ecosystem is approaching a critical juncture,” the foundation said.
(With inputs from Shikha Singh)
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