Quick Updates
- Three new grants approved with a total of $380,000 in funding
- A new community initiative to support engagement through Yapper
- Alerting tool RFP funded to help users track positions and market risks
- Exploring new grants to improve technical onboarding and wallet integrations
New Grants
Below, we highlight a few of our recent grant approvals. More detailed information on each grant can be found here.
Yapper CT Leaderboard Initiative - Kaito
Kaito’s Yapper Leaderboard is a public leaderboard that tracks and ranks the contributions and influence of creators for any specific project or protocol. This leaderboard provides a public scoring system to incentivize community engagement and support a rewards program. We are funding the launch of a dedicated dYdX leaderboard, which will track contributions that promote the dYdX protocol on crypto twitter. Using this leaderboard, the DEP will launch a grants-funded rewards program to incentivize participation and engagement. Our goal is to reward community members for their contributions in promoting the dYdX protocol and brand with high quality content.
Keep an eye out for more information on the rewards program!
Liquidation Alerting Tool - Mert Koklu
This grant will fund the development and maintenance of a frontend tool supporting alert subscriptions for liquidations and potentially deleveraging risks on user positions. Traders can subscribe to alerts using the frontend via different messaging platforms (e.g. telegram, pagerduty, email, slack). Our goal is to improve the user experience by allowing traders to stay on top of market activity and portfolio risks in real-time.
BeInCrypto Media Campaign - BeInCrypto
BeInCrypto is a leading marketing platform for everything crypto. We are funding a six-month media campaign through multiple marketing channels, including dYdX editorial content, display ads, social media content, and targeted affiliate initiatives. This is part of our continued effort to promote the dYdX brand through targeted engagements and mindshare activities.
Project Updates
Below, we share updates from ongoing projects, including milestones achieved and completed deliverables.
New Market Listing Initiative – Lattice Research
Lattice Research was tasked with proactively launching new markets on dYdX to improve the listing velocity and attract more trading activity. In the past month, the speed of listings improved thanks to their efforts, including quick launches of new assets like BERA, KAITO, and LAYER. Other markets launched include IP, HYPE, SONIC, and more. While there’s room for improvement at the infrastructure layer to make dYdX a first mover in decentralized perps, we’re thrilled to see markets launch quicker through this initiative.
Local Terminal and Copy Trading Bot – ErienceX
The ErienceX team has published a final version of a local dYdX terminal with support for trading strategies, including grid trading and copy trading. This terminal offers users a dedicated front end for trading on dYdX, with higher response times and further customizability. The repository now includes detailed explanations of the terminal, how to onboard, and trading capabilities, making it much easier to start trading.
New Initiatives
Below, we highlight new initiatives and work being done to fund developments. This includes both published RFPs (request for proposal) and discussions happening in the past month to explore grant opportunities.
Buyback Dashboard
Following the Treasury subDAO’s proposal to launch a DYDX buyback initiative, the DEP has been in discussion with front-end developers to create a dedicated buyback dashboard. This dashboard will be used both as a marketing tool to promote the financial activity on dYdX, and as a community engagement tool to measure the success of this initiative. We are now in the process of finalizing a grant, subject to community approval of the buyback program.
Wallet Integrations
We are exploring wallet integrations as a means of improving onboarding and trading activity. Through partnerships with browser-based wallets, users could trade perpetuals on dYdX from the wallet interface directly, improving the product’s accessibility to new users. Discussions are ongoing to explore both the technical and financial structures to facilitate these grants.
Technical Onboarding Improvements
We are exploring methods of improving the onboarding experience for developers and algorithmic traders interested in dYdX. We are specifically interested in updating the existing API and Indexer documentation to make it easier for developers, and more consistent with typical API docs. We’re also hoping to add regular parity across all trading clients such that upgrades to the protocol and any one client is added across all languages, including Typescript, Rust, and Python.
Operational Updates
Financials
Balance
DYDX: 1,461,473.47
USDC: 3,618,603.25
Total USDC Balance (at current DYDX price): $4,568,561.00
Payables/Receivables
Outstanding Funding Approved: $2,355,443.00
Outstanding Operational Budget: $1,050,000.00
Total Budget Remaining: $1,163,117.14
Expenses
Operational expenses (databases, hosting, admin, etc..): $5,452.63