Why do you want to be an Endorsed Delegate and why should DYDX/stkDYDX holders delegate to you?
Xenophon Labs is a Web3 R&D firm that focuses on the intersection of game theory, finance, and software development. We previously worked on docs.dydxalerts.com to create a self-hosted alerting tool, and we most recently published the dYdX trader rewards mechanism review, which enables traders to maximize their rewards and gives guidance for governance to increase protocol revenues.
We have been with dYdX since day one of the grants program, continue driving value to the protocol through deep research into the protocol’s most in-need components through the grants program.
We would like to be endorsed delegates in order to provide an in-the-weeds technical lens, while remaining neutral to all of dYdX’s stakeholders. Xenophon Labs has no direct affiliation with dYdX Trading, dYdX Foundation, dYdX’s market makers, nor any special interest group in dYdX ecosystem. Furthermore, we have done extensive work on dYdX’s mechanisms, most recently on trader rewards, and we have a thorough understanding of how technical changes to the protocol are expected to affect the ecosystem’s stakeholders.
So why should token holders delegate voting power to us? Well, to be clear, not all holders should. For instance, token holders who are primarily interested in short-term growth at the expense of long-term growth will likely not find our voting decisions appealing, and should not delegate to us. However, token holders who want voting exposure to a technical team that knows the ins-and-outs of dYdX’s mechanisms and is not directly affiliated with dYdX ecosystem’s largest holders will find that we are a great place to delegate voting power. Even for individuals who do not know they want voting exposure to a technical team, we encourage that they consider delegating to us, since the majority of voting decisions on the dYdX protocol are technical ones.
How will you connect with and contribute to the dYdX community and governance?