April '23

Funding Rounds

In April, the DGP issued three new grants for a total of $75,000 in funding. We have now approved a total of 103 grants with over $3.2M in funding throughout the grants program.

We continue to focus on areas of funding that are relevant to the upcoming v4 protocol launch, which will see dYdX migrate from Ethereum to a sovereign Cosmos SDK chain. We’re excited to explore and fund opportunities to contribute towards dYdX v4 development. Areas of focus include Cosmos-related infrastructure, protocol research, and product development. If you, or anyone you know, is interested in contributing to the future of dYdX, give us a shout and submit an application.

In addition to our core program, the Grants team launched the community cauldron initiative. The community cauldron will allocate funding towards smaller scale, community-driven projects to make the program more accessible to active community members. The goal is to build an active dYdX community within a fun environment. Read more about the project here.

Funded Grants

April was another exciting month for our existing grantees and ongoing projects. Below, we highlight a few of the latest updates from our funded grants.

Coinacademy Marketing Campaign

The French media platform, Coinacademy, completed the first half of our marketing campaign. The campaign is targeting the French crypto community to bring on new users and grow the brand. First half numbers have been promising with lots of interactions and viewers.

Funding Rate Bounding Research

0xCLR’s research-led proposal to update max funding rates to 4% was successfully executed. The updates from this proposal will improve the health of dYdX Exchange and the overall user trading experience, especially in volatile markets.

CCTP Relayer and Noble Relaying

With the dYdX private testnet launching, the Strangelove team kicked off their Noble relaying services to support this initial testing phase. This marks an important milestone for the implementation of USDC as a core asset on dYdX v4.

Applications Data

Applications were back up to the highest we’ve seen in April, hitting a total of 63 applications received. We’re thrilled to see continued interest in contributing towards the growth of dYdX.

Expenses

The program paid out the following expenses in April: