As stated in the original post, HDX token holder DAO had approved the funding of 2 years' of development for the HydraDX protocol – with a maximum tranche of 6 months runway (25% of the value at a time, maximum).

The address in this post has been verified as belonging to the Intergalactic Limited company (eth:0xBb5D814b2095A1a7e5a80215887DbED65380AE2b).

As such, the transaction for this 6 months worth of funding has been submitted to the HydraDX Council Ethereum Multisig: https://app.safe.global/transactions/tx?id=multisig_0xc8d5a24e71EAAcf6ecB1E850c0Face14B179D3B8_0xaacbc301be347afb05cb71143a33dd648128ab53d5d694118fb7ad5e4af93fe0&safe=eth:0xc8d5a24e71EAAcf6ecB1E850c0Face14B179D3B8


I have signed the tx confirming that jakpan and lolmcshizz are part of the signers of that multisig adress

Through [referendum #35](https://hydradx.subsquare.io/democracy/referendum/35) the HydraDX community approved the funding of 2 years' development of the HydraDX protocol. This can be distributed in tranches of up to 6 months' runway (1.25M DAI) by the HydraDX Council.

The full 5M DAI resides in a [Council-controlled Gnosis multisig on Ethereum](https://etherscan.io/tokenholdings?a=0xc8d5a24e71EAAcf6ecB1E850c0Face14B179D3B8) (eth:0xc8d5a24e71EAAcf6ecB1E850c0Face14B179D3B8).

This is a request to the HydraDX Council for the first tranche of funding of 1,250,000 DAI to be distributed to the [Intergalactic Limited multisig](https://etherscan.io/address/0xBb5D814b2095A1a7e5a80215887DbED65380AE2b) (eth:0xBb5D814b2095A1a7e5a80215887DbED65380AE2b) to fund development and audits during the next 6 months.

- HydraDX community approved funding for 2 years' development of HydraDX protocol
- Funding can be distributed in tranches of up to 6 months' runway (1.25M DAI) by the HydraDX Council
- Full 5M DAI resides in a Council-controlled Gnosis multisig on Ethereum
- Request for first tranche of funding of 1,250,000 DAI to be distributed to the Intergalactic Limited multisig
- Funding will be used for development and audits during the next 6 months.

Intergalactic Limited 6 months development funding - first tranche