dYdX operating trust fund will transform into a Cayman Islands foundation company

ChainCatcher news, the dYdX Foundation stated on platform X that the dYdX community has voted to support the transformation of the dYdX operational trust fund into a Cayman Islands foundation company, with a final support rate of 93.1%.

Next steps: 1. Establish the dYdX Operational Foundation (DOF) in the Cayman Islands as a foundation company and appoint key personnel; 2. Draft the memorandum and articles of association for the DOF and grant effective control to the dYdX community through dYdX consensus; 3. End the trust period, thereby terminating the DOT; 4. The trustee needs to execute the relevant transfer operations, including multi-signature, domain names, accounts, contracts, etc.