A statement from the dYdX Foundation.
The dYdX Foundation exists to support the dYdX protocol and to foster community-driven governance and growth across the dYdX ecosystem. That role is unchanged.
Today, dYdX Trading Inc. (d.b.a. dYdX Labs) announced Arcus, a new decentralized exchange built in partnership with Robinhood on the Robinhood Chain. Arcus is a distinct, independent product built on separate infrastructure; dYdX Chain is not affected by it in any way. dYdX Chain continues to operate as it did yesterday – governed by its token holders, secured by its validators, and owned by its community.
What follows is for those who rely on that: traders, token holders, validators, and the wider ecosystem.
Operations
Trading, deposits, withdrawals, staking, governance, and validator operations all continue to run as normal. The community-owned infrastructure maintained by the dYdX Operations SubDAO - the indexer, the dydx.trade front end, and the iOS and Android applications - remain in service. Any change to availability would be communicated in advance.
The DYDX Token
DYDX is, and remains, the governance and staking token of dYdX Chain. Its mechanics, supply, and operational characteristics remain unchanged. No token swap or migration has been announced; any such decision would belong to dYdX Labs and to DYDX token holders and governance participants.
Staking rewards continue to be paid in USDC, drawn from dYdX Chain protocol fees, for as long as the Chain operates.
Validators and Governance
dYdX Chain is secured by its validators, and that requirement is undiminished. The validator set will continue to operate as it does today, with any changes to the validator set or validator requirements needing governance approval by the dYdX community.
Governance continues to function as it always has. dYdX Chain validators and DYDX stakers propose and vote; the Treasury SubDAO and Operations SubDAO continue to operate under their existing mandates. The Community Treasury, the Rewards Treasury, and their respective vester accounts all remain under dYdX Chain governance control, and their funds can only move pursuant to a community decision via governance. Community initiatives, likewise, are governed by token holders, who determine any future initiatives or changes to the existing ones.
The Foundation’s Role
The dYdX Foundation will continue to do what it was formed to do: support the dYdX protocol, foster governance participation and engagement, guide its validator community, and report to token holders with transparency.
dYdX Chain is operational, community-owned, and governed by the token holders. The Foundation’s commitment to it is undiminished.