TechFlow news — The dYdX Operations Trust (DOT), the operating entity of the dYdX DAO, has released its first operational update, stating that since its launch on December 18 last year, DOT has converted 225,000 DYDX tokens received into 303,075 USDC to meet budgetary requirements. DOT has also published a Gantt chart outlining a timeline for delivering a community draft by early March. Additionally, it is actively engaging with multiple banks regarding joining DOT. Going forward, DOT will provide monthly updates to the community on progress related to banking support, DAO drafts, and other initiatives.
According to the announcement, DOT is primarily responsible for releasing the dYdX DAO charter, providing the community with guidelines to launch new subDAOs, thereby fostering the growth of a community-governed dYdX DAO; opening fiat bank accounts to manage payments to service providers; and creating and managing communication channels that can serve as standards for the dYdX DAO. Its mission is to enable the development of a community-operated dYdX DAO. Currently, the subDAO has secured six months of operational funding.
Earlier report: In November last year, the dYdX Foundation tweeted about the short-term roadmap for the dYdX DAO, preparing for the launch of the V4 mainnet in Q2 2023.Original link
