dYdX Community Proposes Changes to Encourage More Participation in Governance

On February 11, a significant new proposal was presented in the dYdX community forum. Proposed by Chorus One, the initiative aims to lower the barrier for users to submit governance proposals and to elongate the deposit period. The proposition includes reducing the minimum deposit required to submit governance proposals from the current 10,000 DYDX to 2,000 DYDX. This change aims to encourage community members with lesser funds to participate actively in on-chain governance. The current deposit amount is approximately $28,000, a figure that may represent a significant challenge for many community members and may limit their ability to engage in on-chain governance. In addition, the proposal suggests that the maximum deposit period should be extended from the current 2 days to a full week. This adjustment is intended to provide community members with additional time to meet the requirements of their proposals and to further stimulate the growth and evolution of the dYdX platform.