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dYdX community approves the use of 10 million USDC from the insurance fund to support the DAO
The dYdX Foundation announced that #372 community on-chain voting has passed, approving the use of the Insurance Fund to provide financial support for the DAO.
The proposal specifically involves transferring 10 million USDC from the dYdX chain insurance fund to three different entities: 2.5 million USDC to the dYdX operational sub-DAO as operational funds, 5 million USDC to the dYdX treasury sub-DAO 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.
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