dYdX community proposes to lower the governance proposal threshold and increase the maximum deposit period

On February 11th, a new proposal was released on the dYdX community forum aiming to reduce the minimum deposit required for users to submit governance proposals from 10,000 DYDX to 2,000 DYDX and extend the maximum deposit period from 2 days to 7 days. The proposal was put forward by Chorus One with the intention of encouraging community members with less funds to participate in on-chain governance activities and providing more time for community members to meet the proposal requirements in order to promote the development and growth of dYdX. The current deposit amount is approximately $28,000, which may pose a significant burden on community members and limit their ability to participate in on-chain governance. The proposal also points out that extending the deposit period will provide greater flexibility for community members who wish to propose ideas on-chain. If there is no strong objection against the proposal, the community may conduct an on-chain vote as early as Monday, February 12th.