Operations subDAO Structure & People
The Operations subDAO has a primary governing legal entity which is the dYdX Operational Trust (DOT) formed under Guernsey law. Five trustees selected from the community are controlling the trust and an enforcer is making sure the trustees are acting in the interest of the community.
Directors
Responsible individuals selected from the community who control the Digital Operations Foundation formed under Cayman law, ensuring its alignment with community interests.
Supervisor
An appointed figure who oversees the directors, ensuring they act in the best interest of the community.
Core Contributors
Essential members of the Operations subDAO, fulfilling specific roles such as Technical Project Management and Operations Lead to drive the DAO's objectives.
Operations subDAO Historic Timeline
Key milestones and events in the Operations subDAO's development and evolution.
Operations subDAO 1.0
November - April 2023
The dYdX DAO formed the dYdX Ops subDAO with the dYdX Operations Trust. Enabling the DAO to enter into legal contracts and engage third party vendors, initially with the focus on managing a DAO communication channels and crafting the DAO Playbook
- Forum DRC (Nov 9th 2022)
- Governance Proposal (Dec 18th 2022)
- Incorporation of the DOT (Apr 3rd 2023)
dYdX Ops subDAO 2.0
May - June 2023
The dYdX Ops subDAO was funded for additional 18 months by the dYdX Community expanding the purposes of the DOT to enhance community communication and run the community owned infrastructure for the dYdX Chain.
- Trust Amendment - updating the purposes according to the second Mandate (October 10th 2023)
- Forum DRC (May 22nd 2023)
- Second Mandate (June 21st 2023)
- Changing Trustees & Enforcer (June 30th 2023)
Incorporation of DOS
August 2023
A Cayman Islands-exempted company, dYdX Operations Services Ltd. (“DOS”), was incorporated to streamline the subDAO’s present and future operations.
- Incorporation Doc of the DOS (23rd August 2023)
- Enabling Christoph Sonn to hold the share of the dYdX Operations Services Ltd. in the name of the DOT
Retirement Flipside
October 2023
Flipside Crypto decides to step down from their role as dYdX Operations Trust Trustee.
- Retirement Flipside (October 16th 2023)
Retirement Callen
November 2023
Following Flipside Crypto's retirement, Callen Van den Elst retires as a Trustee.
- Retirement Callen (November 15th 2023)
Adding dYdX Chain dYdX Community definition to Trust Docs
December 2023 - January 2024
The dYdX Operations subDAO and Grants subDAO proposed amendments to their respective Trust agreements that reflect the change in dYdX governance, including dYdX Chain governance in both subDAO Trust agreements.
- Forum Post (Dec 15th 2023)
- Governance Vote (Dec 19th 2023)
- Trust Amendment (January 27th 2024)
Addition of new Trustees
January - February 2024
Chaos Labs also decided to retire from their Trustee role, and three new Trustees were added to the Trustee group
- Forum Post (Jan 11th 2024)
- Governance vote (Feb 17th 2024)
- Instrument Retirement and Appointment (March 1st 2024)
Move to a Cayman Foundation
March 2024
To optimize the legal structure of the dYdX Operations SubDAO, the dYdX DAO accepts a proposal of the subDAO to transition away from the Guernsey Trust to a Cayman Foundation Company.
- Forum Post (March 15th 2024)
- Governance vote (March 31st 2024)
dYdX Operations subDAO 3.0
September 2024
The dYdX Ops subDAO outlines a proposal for a $23.3M budget over 36 months to fund operations starting January 2025, following the successful completion of Mandate 2.0. The focus will be on enhancing dYdX Chain infrastructure, expanding the tech team, and ensuring operational resilience.
- Forum Post (Sep 6th 2024)
- Community AMA (Sep 12th 2024)
- Text Proposal (Sep 30th 2024)
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