The dYdX Foundation is applying for $8 million in funding to launch a new dYdX funding program

According to the official governance forum, dYdX Grants Ltd., a wholly-owned subsidiary of dYdX Foundation, is applying for $8 million in DYDX from the dYdX Chain Community Finance Department to initiate, manage, and operate a new dYdX funding program. It is expected that this funding will last for approximately 12-18 months. This will enable dYdX funded projects to expand support for developers, researchers, and contributors across the entire dYdX ecosystem, and improve operational efficiency and cost-effectiveness. After receiving feedback from the dYdX community, we plan to launch the on chain governance proposal on August 4th.