ChainCatcher report: The dYdX Foundation announced that Community On-chain Vote #372 has passed, approving the use of the Insurance Fund to provide financial support to the DAO. The proposal specifically authorizes the transfer of 10 million USDC from the dYdX Chain Insurance Fund to three distinct entities: 2.5 million USDC to the dYdX Operations SubDAO as operational funding, 5 million USDC to the dYdX Treasury SubDAO as discretionary reserves, and 2.5 million USDC to the dYdX Foundation for ecosystem development and governance support. The Insurance Fund currently holds approximately 17 million USDC, of which about 7 million USDC serves as a protocol security buffer.
dYdX Community Approves 10M USDC Insurance Fund Allocation
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Summary
On-chain news shows that the dYdX Foundation has passed Vote #372, allocating 10 million USDC from the insurance fund. The plan includes 2.5 million USDC to the Operations Sub-DAO, 5 million USDC to the Treasury Sub-DAO, and 2.5 million USDC to the Foundation for ecosystem growth. The insurance fund holds 17 million USDC, with 7 million reserved as a security buffer.
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