dYdX Ops subDAO 2024 Q3 Finance Update

dYdX Ops
November 14, 2024

Finance Update 

Q3 Spending Update

In the 3rd quarter of 2024 the dYdX Ops subDAO spent just under $850k. Which is roughly on par with the previous quarter (when distributing the upfront payment for indexer services evenly). On average the expenses per month amounted to $280k, the fluctuation around that is due to different billing cycles for some of the services, this average is lower than the previous two quarters, this is due to the large upfront payment done in June for the indexer service provider as well as infrastructure. Additionally the indexer infrastructure cost is slightly increasing again month over month, we are keeping it under close watch but also expect that the recent and future surges in traffic due to market situation and the new dYdX Unlimited upgrade will further add to the cost here. As mentioned last quarter we are exploring options to reign these in, but as the Indexer is an integral part of the dYdX Chain experience this is expected to be a long term project.


‍

For the remaining four months of the current Ops subDAO term we have roughly $400k per month left which is slightly more than forecasted last quarter. 

‍

Bridged all DYDX to the dYdX Chain via OTC Desk 

In light of the upcoming proposal to seize the support of the DYDX Bridge from Mainnet to the dYdX Chain the dYdX Ops subDAO also moved the remainder of the DYDX Tokens in the MultiSigs of the Digital Operations Foundation as well as the dYdX Operations Services Ltd. to the dYdX Chain. As the official bridge does not support the safe MultiSig on mainnet we had a couple of different possibilities to handle the bridging: 

  1. Interact directly with the bridging contract via client 
  2. Send the DYDX to a wallet of a trustee and the trustee does the bridging 
  3. Use OTC desk for the transition

We opted for option 3 as we didn’t have the capacity on the technical team to interact with the bridging contract directly, and didn’t want to take the risk of going through a wallet controlled by only one person. 

The DYDX is now held on two dYdX Chain MultiSigs: 

  • Digital Operations Foundation MultiSig:some text
  • dYdX Operations Services Ltd. MultiSig:some text

‍

DOF Bridging - OTC desk charged 963,5901 DYDX for the transition

‍

Outgoing transactions from the DOF MultiSig: 

‍

Inbound transactions on the DOF dYdX Chain MultiSig: 

‍

DOS Bridging - OTC desk charged 130 DYDX for the transition

‍

Outgoing transactions from the DOS MultiSig: 

‍

Inbound transaction on the dYdX Chain MultiSig: 

‍

Connect with Us

Dive deeper into the dYdX Operations subDAO community. Engage in discussions, stay updated with announcements, and be part of the dYdX Chain.