Welcome back to the “Meet the Delegates'' series! This series helps the dYdX community to get to know their delegates. AndyGG and NTInc, both endorsed delegates for the dYdX community, were featured in this episode.
Before going into their individual profiles, it is important to note that both AndyGG and NTInc have applied to work on a research grant on various governance topics like:
Token Delegation Lockups,
Governance Incentives and Participation,
SubDAO Internal Structure, compensation, and the legal implications of all the above governance models
They have now shifted focus towards overhauling the governance model on Cosmos, while focusing heavily on researching many different variations of governance for comparative analysis.
The community will be consistently updated along the way and participate in their research through forum discussions. The ultimate aim is getting to a best-in-class governance model for dYdX by finding the strengths of many current iterations and synergizing them.
Delegation provides an opportunity for more community members to get involved with governance, and when you delegate the voting power of your tokens, you retain 100% ownership of the token itself. There are no changes to the way you use or hold the token. You can choose anyone who you believe will participate in dYdX governance and can represent what you want this ecosystem to become.
Currently, $DYDX holders have control over market listings, capital allocations to market makers, allocation of the community treasury, and much more (see the full list of governance parameters here). Community-controlled governance parameters will increase in the future, and competent delegates are essential to push the dYdX protocol forward.
If you hold $DYDX but have no time to review proposals, or you don't have enough information about potential delegates, consider delegating the proposing power and/or voting power of your tokens to an Endorsed Delegate to support decentralization and better decision-making on the dYdX protocol. You can review the Endorsed Delegate's profiles and pitches here and delegate voting power and proposing power here.
Since winning a Hedgie Poker Tournament, Andy decided to participate more actively in the dYdX community, and his first contribution to dYdX was a thread on the forums discussing the potential listing of PAXG (tokenized gold). Thereafter, he joined the Ambassador Program in the Governance Burrow, and as an ambassador, he helped launch:
Meet the delegate series,
DRC: Framework for New Asset Requests,
DRC: Hedgies - Lens Protocol Collaboration, building the Hedgies account on Lens Protocol, kickstarting the Hedgies Community Treasury,
The Wonderverse implementation for bounties management, and
The research work on MakerDAO Governance Model & Delegation Incentives, Curve’s Venomics and Sushi’s xModel.
Apart from the grant application and staying active on governance as an endorsed delegate, Andy is looking forward to developing the Hedgies and dYdX brand in the Lens Protocol ecosystem. Quotes from Andy's endorsed delegate profile:
"I am strongly committed to the dYdX protocol and its governance. I use dYdX as my primary derivatives exchange, I hold $DYDX tokens and Hedgies NFTs. I would benefit from dYdX growth as we would enjoy deeper liquidity, less spread as well as $DYDX token and Hedgies NFTs appreciation in value."
"I have true decentralization as my priority number one as I believe that this is the main feature that is going to make dYdX the biggest exchange in the world, thus benefiting dYdX users and token holders in the long run."
"I will always provide my reasoning for any proposal, vote, or decision that I make based on true decentralization as my top priority but taking into account that some trade-offs must be made to have a working protocol, especially at the beginning."
Nick (NTInc) has been a long-time follower of dYdX since back in the days of layer 1. With the announcement of dYdX launching on a Layer 2 back in the midst of DeFi summer, Nick was encouraged to get involved in the dYdX community and wanted to help popularize the narrative of building on Layer 2's on top of Ethereum. The launch of the Hedgies NFT project was a key part of Nick's greater involvement with dYdX, as geographically being from the US, Hedgies allowed him to acquire a vested interest in the protocol. The Hedgies community quickly grew and he was connecting with people from all over the world thus becoming more active in Discord and governance.
Nick worked in the Ambassador program with the Governance Burrow previously, and although it was a short-lived tenure as the program was discontinued, Nick learned a great deal and was sure that he was staying with the dYdX community in some form.
Quotes from Nick's endorsed delegate profile:
"We've seen protocols struggle with their efforts to decentralize because the lower echelon of users not being empowered. Being a governance ambassador and endorsed delegate, I'm already aware of a lot of problems that we will face on this journey. My main goals are as follows based on the importance of user growth initiatives, fostering the growth of governance, and educating the community."
"One thing about DAOs and governance is after full decentralization the delegates carry a lot of the leg work contributing to the protocol. It's important to me to be the change I want to see and onboard myself. I'm always available on Discord or Commonwealth for the community to reach me."
Legitimacy & Disclaimer
dYdX Foundation’s purpose is to support and grow the dYdX protocol ecosystem by enabling communities, developers, and decentralized governance.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. The dYdX community is sovereign to make decisions freely from time to time, in accordance with the governance rules, principles, and mechanisms adopted by the dYdX DAO. Community discussion and interaction on the contents of this post are encouraged. The dYdX Foundation does not directly participate in governance decisions to be made by the dYdX community, including, without limitation, by making and/or voting on governance proposals. The dYdX Foundation may change, update or complement its analysis or opinions expressed in this post in the future and assumes no obligation to publicly disclose any such change or update. This post is solely based on the information available to the dYdX Foundation at the time it is made and should only be read and taken into consideration at the time it is made and on the basis of the circumstances that surround it.
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