PANews reported on July 28 that according to the official governance forum, dYdX Grants Ltd., a wholly-owned subsidiary of the dYdX Foundation, is applying for $8 million in DYDX from the dYdX Chain Community Treasury to launch, manage and operate the new dYdX grant program. The funds are expected to last for approximately 12-18 months. This will enable the dYdX grant program to expand support for developers, researchers, and contributors across the dYdX ecosystem, and improve operational efficiency and cost-effectiveness, etc. After feedback from the dYdX community, the on-chain governance proposal is scheduled to be launched on August 4.