dYdX operating trust to transform into Cayman Islands Foundation Company

dYdX Foundation announced on the X platform that the dYdX community has voted to support the transformation of the dYdX operating trust fund into a Cayman Islands Foundation Company, with a final support rate of 93.1%.The following steps will be taken:1. Establish the dYdX Operating Foundation (DOF) as a foundation company in the Cayman Islands and appoint key personnel; 2. Draft the memorandum and articles of association of DOF and grant effective control to the dYdX community through dYdX consensus; 3. End the trust period, thus terminating DOT; 4. The trustee needs to execute relevant transfer operations, including multi-party signatures, domain names, accounts, contracts, etc.

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