dYdX Operations subDAO Update #3

subDAOs
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Hello dYdX Community,

We are excited to share with you all the latest updates and developments that have been happening within the dYdX Ops subDAO since the Genesis of dYdX Chain. It’s been a bustling period of growth, innovation, and community building, and we can’t wait to dive into the details with you.

dYdX Operations (4)
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TL;DR:

  • dYdX Chain was launched on Oct 26, 2023, recently transitioned from Alpha to Beta stage.

  • Expanded Validator community and launched Mainnet documentation.

  • Internal changes include new Community Governance Associate and accounting partnership.

1. dYdX Chain: A New Beginning

  • Genesis: The dYdX Chain was launched on 26th October 2023. This milestone marks a significant leap forward for the dYdX Ecosystem, and the chain is buzzing with activity.

  • Bridging UI Launch and Alpha stage: The launch of the community- owned Bridge UI at https://bridge.dydx.trade heralded the start of the Alpha phase, which focuses on bringing stability and reliability to the dYdX Chain. The dYdX governance community deemed the dYdX Chain stable enough to transition from the Alpha to Beta stage, enabling trading functionality on the dYdX Chain.

  • Transition to Beta stage: As the dYdX Chain governance vote to enable trading passed, the dYdX Operations SubDAO deployed the community -owned trading frontend at https://dydx.trade. This marked the beginning of the dYdX Chain Beta stage. The dYdX governance community may choose to incentivize trading with another governance proposal that will mark the Beta stage’s end and launch full production of the dYdX Chain.

2. Community and Infrastructure Growth

  • Expanding the Validator Community: The dYdX Operations subDAO continues to support the Validator community. Through Slack Connect, we’re bringing together recognized and verified entities, ensuring closer and faster collaboration.

  • Mainnet Documentation Goes Live: We’ve launched our Mainnet documentation website at https://docs.dydx.trade. Documentation is regularly updated with the latest information, including our newly created Terms of Use, developed in consultation with legal experts.

  • Metrics Collection: We’ve implemented an ongoing metrics collection system. Validators who have joined forces with us by whitelisting our collector IP and sharing their metrics endpoint are now part of this innovative initiative.

  • Geoblocking and OFAC Monitoring: In our commitment to compliance and security, we have defined and deployed state-of-the-art geoblocking and OFAC monitoring rules for the Ops subDAO’s infrastructure, ensuring we operate within legal frameworks.

3. Internal Updates

  • Farewell to Callen: Callen Van den Elst resigned as a trustee; the search for new trustees begins.

  • New entry: Welcome to Stan Banchev, our new Community Governance Associate.

  • Engaging Accountants: We’re excited to announce our new partnership with the accounting firm Harris and Trotter.

It’s an exhilarating time for all of us at dYdX Operations subDAO, and we’re thrilled to be part of this journey.

Let’s keep pushing the boundaries together!

The dYdX Operations subDAO.

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Thanks for the update!

Some questions;

  • will there be a gradual growth of validator set size? Or is there a target for the amount of validators securing dYdX? (more is not always better, I know)
  • what are the steps which are next on the planning? Might be a good one to present an outlook towards the coming period.
  • will the metrics collection also be open for “outsiders”?
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Hey everyone,

As the post indicated, I’ve officially resigned from the Ops subDAO and I’m super grateful for the community’s support from DOT 1.5 to 2.0.

My resignation comes at a time where the DOT and the dYdX Chain are now in a healthy and stable position with a lot of the large milestones being achieved. More importantly, my resignation now opens up the opportunity for other community members/contributors to get involved!

Big thanks to all the DOT contributors!

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A big thank you also from me and the whole @dYdX_Ops_subDAO to you @Callen_Wintermute!

Thank you for your hard word, without you we wouldn’t be where we are now! We are standing on your shoulders.

Best of luck to you, and check in with us from time to time!

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Hi @LeonoorsCryptoman,

Thank you for your interest and insightful questions!

The dYdX Operations subDAO currently does not have a specific plan for increasing the active set size. We believe that the current number, which stands at 60 validators, is sufficient for the moment. It’s important to note that any decision to grow this number will be a governance decision, and will only be pursued if a clear need for expansion is identified by the community.

Looking ahead, our primary focus is on facilitating the community’s decision to transition from the Beta stage to Full Trading. This will be a critical phase in moving towards Full Production mode for the dYdX Chain. During this period, our emphasis will be on inspecting and further optimizing our operations to support a seamless transition and ensure the best possible performance of the dYdX Chain.

The metrics collection is already accessible.
You can find detailed information and resources related to our Validator Metrics over here dYdX Documentation - Validator Metrics.

Cheers,

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Was a pleasure working with you & learning from you sir - onwards & upwards!

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