The 2023 Midterm Ecosystem Report published by dYdX Foundation focuses on the platform’s recent achievements and future plans.
About dYdX Foundation
Founded in Switzerland on June 22, 2021, dYdX Foundation is a non-profit organization. The foundation, which expanded its team in 2023, consists of 13 full-time staff and 6 contracted staff. The Foundation’s recruitment policy allows it to complete its preparations for the potential launch of the dYdX Chain.
dYdX Chain Developments
dYdX Chain will serve as a proof-of-stake blockchain. Validators will ensure the security of the network.
dYdX Grants and Operations
dYdX Grants altDAO provided more than $4 million in total funding in 2023. Additionally, dYdX Operation altDAO’s v2 proposal and $6.6 million budget were approved.
Financial Activity
The dYdX v3 protocol experienced significant growth with 68,628 accounts in the first half of 2023, reaching a transaction volume of $240.5 billion. dYdX v3 managed to reach a total transaction volume of 1 trillion dollars.
dYdX Trading Achievements
dYdX Trading has successfully completed most of its objectives, ensuring significant participation in the Second Public Tesnet. The dYdX Trading team is also the main development team of the dYdX v3 Protocol and dYdX v4 open source code.
Customer Support Services
The launch of dYdX’s User Support Service in Turkish on March 20, 2023 was welcomed with great pleasure. This also shows that the Foundation listens to the wishes of the community.
The 2023 report demonstrates the solid foundation dYdX has created to support future growth and expansion plans. dYdX continues to work rapidly to strengthen its ecosystem and add value to its community.
