The dYdX community treasury currently holds 80.5 million vested DYDX and 19.4 million vested stDYDX

dYdX released the dYdX DAO treasury management details. As of the release date, a total of 80.5 million vested DYDX and 19.4 million vested stDYDX are located in the community treasury. In addition, 129.7 million DYDX will be vested in the community treasury from community Vester until August 2026. The assets of the community treasury are currently limited to the DYDX and stDYDX tokens. The lack of a legal entity could create uncertainty from a tax and regulatory perspective if the community wanted to convert some of its assets or earn money on other assets such as USDC. In addition, having a community fund composed of a single asset type (DYDX and liquidity pledged DYDX) will bring significant volatility and risk concentration to the overall value of the fund, which will bring challenges to long-term financial planning and make it difficult to maintain the DAO in the long term. operations. Additionally, in order for the dYdX DAO to be successful in the future, it may be in the best interest of the community to expand the dYdX DAO to include a treasury sub-DAO that could be responsible for: (1) Establish Cayman foundation and treasury multiple accounts on the dYdX chain to achieve greater tax and legal certainty; (2) Develop a staking plan whereby a portion of the DYDX funds received from the community treasury will be used for dYdX chain validators; (3) Oversee the diversification of DYDX received from the community treasury into assets other than DYDX (and stDYDX) (such as stablecoins) to mitigate the volatility of the total asset value and ensure sufficient running time; (4) Engage in various financial transactions on and off the chain to create income and financial returns for its treasury assets; (5) Assist dYdX DAO with financial planning, financing and operational support.