Meet dYdX Delegates – AndyGG and NTInc
Welcome to another installment of the “Meet the Delegates” series! This initiative allows members of the dYdX community to gain insight into their delegates. This episode focused on AndyGG and NTInc, both endorsed by the dYdX community.
Prior to exploring each of their individual backgrounds, it is essential to take into account that AndyGG and NTInc have both submitted applications to collaborate on a research grant dealing with various matters related to governance, such as:
- Liquid Democracy,
- Token Delegation Lockups,
- Governance Incentives and Participation,
- Tokenomics, and
- SubDAO Internal Structure, compensation, and the legal implications of all the above governance models
Their attention has now been redirected to revamping the governance system of Cosmos, while devoting much effort to researching and comparing a variety of governance models.
The community will be kept up to date with progress and be involved in their research by taking part in forum conversations. The end goal is to create an optimal governance model for dYdX which combines the advantages of the existing models.
What is delegation?
As the dYdX protocol progresses towards full decentralization, delegates are necessary to aid in community-driven expansion, evolution, and self-sufficiency of the dYdX protocol.
Delegating allows more people to join in on decision-making and you keep full control over your token. No alteration is done to the way you possess or utilize the token. You can decide on anyone who will take part in dYdX governance and ensure that it turns into what you desire it to be.
At present, holders of $DYDX possess authority over market listings, capital distributions to market makers, allotment of the community fund, and more. Governance parameters controlled by the community will expand in the future, and proficient delegates are necessary to propel the dYdX protocol onward.
If you own $DYDX tokens but lack the time or knowledge to assess proposals, you can delegate your voting and proposing power to an Endorsed Delegate. This will help decentralize decision-making on the dYdX protocol. To find out more about Endorsed Delegates, check their profiles and pitches here, then delegate your power here.
- Commonwealth name: AndyGG
- Discord ID: @AndyGG#1484
- Twitter handle: @andygglens
After being victorious in a Hedgie Poker Tournament, Andy became more involved with the dYdX community and his initial contribution was a forum thread deliberating the possibility of listing PAXG (tokenized gold). He followed this up by joining the Ambassador Program in Governance Burrow where he played a role in initiating:
- Meet the delegate series,
- DRC: Framework for New Asset Requests,
- DRC: Hedgies – Lens Protocol Collaboration, building the Hedgies account on Lens Protocol, kickstarting the Hedgies Community Treasury,
- The Wonderverse implementation for bounties management, and
- The research work on MakerDAO Governance Model & Delegation Incentives, Curve’s Venomics and Sushi’s xModel.
In addition to submitting a grant request and maintaining his role as an endorsed delegate, Andy is eager to build the Hedgies and dYdX reputation within the Lens Protocol environment. Here are some quotes from Andy’s approved delegate profile:
- “I am strongly committed to the dYdX protocol and its governance. I use dYdX as my primary derivatives exchange, I hold $DYDX tokens and Hedgies NFTs. I would benefit from dYdX growth as we would enjoy deeper liquidity, less spread as well as $DYDX token and Hedgies NFTs appreciation in value.”
- “I have true decentralization as my priority number one as I believe that this is the main feature that is going to make dYdX the biggest exchange in the world, thus benefiting dYdX users and token holders in the long run.”
- “I will always provide my reasoning for any proposal, vote, or decision that I make based on true decentralization as my top priority but taking into account that some trade-offs must be made to have a working protocol, especially at the beginning.”
- Commonwealth name: NTinc
- Discord ID: @NTinc#8631
- Twitter handle: @wenhedgies
Nick (NTInc) has been a fan of dYdX since the early days of layer 1. When news broke that dYdX was launching on Layer 2 during DeFi summer, Nick wanted to spread the word about building on Ethereum’s Layer 2 and decided to get more involved with the dYdX community. The Hedgies NFT project gave him a chance to show his support for the protocol, especially considering he is located in the US. As a result, he connected with people from different countries and became an active participant in Discord and governance discussions.
Nick had a short stint with the Ambassador program of the Governance Burrow, but he still gained a lot of knowledge from it and was certain that he would remain part of the dYdX community somehow.
Statements from Nick’s supported representative profile:
- “We’ve seen protocols struggle with their efforts to decentralize because the lower echelon of users not being empowered. Being a governance ambassador and endorsed delegate, I’m already aware of a lot of problems that we will face on this journey. My main goals are as follows based on the importance of user growth initiatives, fostering the growth of governance, and educating the community.”
- “One thing about DAOs and governance is after full decentralization the delegates carry a lot of the leg work contributing to the protocol. It’s important to me to be the change I want to see and onboard myself. I’m always available on Discord or Commonwealth for the community to reach me.”