dYdX approves $10M USDC 'DAO support' proposal

The dYdX (DYDX) Foundation announced that a proposal to use $10 million USDC from its insurance fund to finance its DAO has passed. Specifically, $2.5 million USDC will be used as operating funds for the dYdX operations sub-DAO, while $5 million USDC will be allocated to the sub-DAO's treasury. The remainder has been assigned to the dYdX Foundation. The insurance fund currently holds approximately $17 million USDC, and the remaining $7 million USDC will be used as a buffer for protocol safety.