Wintermute has initiated the proposal "V4 Adoption and DYDX Migration to the dYdX Chain" in the dYdX community. The voting will start tomorrow.

Odaily News Snapshot page shows that Wintermute has initiated a proposal in the dYdX community to adopt "V4" and migrate the DYDX token to the dYdX chain. The voting will start at 07:49 on August 29th Beijing time and end at 07:49 on September 2nd.

Previously, Wintermute, a crypto market maker, made the following suggestions to the dYdX community:

1. Adopt dYdX v4 open-source software as the next version of the dYdX protocol.

2. Use DYDX as the L1 token on the dYdX chain.

3. Use smart contracts developed by the dYdX Foundation to establish a permissionless one-way cross-chain bridge between Ethereum and the dYdX chain for DYDX.

4. Suggest that dYdX chain validation nodes reference the above smart contract when distributing DYDX on the dYdX chain.

5. On dYdX v3, wethDYDX will have the same governance and application functions as DYDX based on Ethereum.

Wintermute stated that they support dYdX v4 and the role of the DYDX token on the dYdX chain, so they put forward these suggestions for the community to consider. In addition, proposals 1-4 do not require any smart contract changes and can be approved through snapshot voting. Wintermute plans to include proposals 1-5 in the same snapshot vote, as each proposal has significant overlap in theme.