dYdX launches a signal proposal to “pledge 5 million DYDX to pSTAKE Finance”

According to DeepChao TechFlow news, the dYdX community launched a signal proposal to transfer and pledge 5 million DYDX from the community treasury through the liquid pledge agreement pSTAKE Finance. The voting ended at 19:00 on April 6, 2020.

It is recommended that 5 million DYDX tokens be liquidly pledged in a phased manner, as follows:

After this signal proposal is passed, 3.5 million DYDX will be liquidly pledged.

After the dYdX community conducted a security overview of the stkDYDX implementation, 750,000 DYDX was liquidated and pledged.

After the total stkDYDX TVL exceeded $20 million, 750,000 DYDX were liquidated.

It is recommended to facilitate liquidity staking DYDX and sending stkDYDX back to the dYdX community vault via a multi-signature of 5 validators: Stakecito, StakeWithUs, StableLab, Provalidator and Nocturnal Labs.