According to ChainCatcher, Wintermute initiated a proposal in the dYdX community to "adopt V4 and migrate DYDX tokens to the dYdX chain". Voting will start at 07:49 on August 29, Beijing time, and end at 07:49 on September 2.
Wintermute recommends that the dYdX community adopt the dYdX v4 open source software as the next version of the dYdX protocol; that the dYdX community will adopt DYDX as the L1 token of the dYdX chain; that the dYdX community will adopt the Ethereum smart contract commissioned by the dYdX Foundation, which, once deployed, will provide a permissionless and autonomous one-way cross-chain bridge for the migration of DYDX tokens from Ethereum to the dYdX chain; that the dYdX community recommends that dYdX blockchain validators refer to the Ethereum smart contract commissioned by the dYdX Foundation when distributing DYDX on the dYdX chain; and that wethDYDX will have the same governance and utility functions as Ethereum-based DYDX (ethDYDX) on dYdX v3.
Among them, the first four proposals do not require any smart contract modification and can be approved through snapshot voting. The last proposal about wethDYDX involves the on-chain Long Timelock. If this snapshot vote is passed, the on-chain voting will be conducted using the Long Timelock around September 1st to 8th.
