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 first tranche of 1.25M funded development between April and September 2023.

The second tranche of 1.25M funded development between September 2023 and May 2024.

The remaining 2.5M 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 third 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 for the next ~6 months.

#184 Intergalactic Limited 6 months development funding - third tranche