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.

#68 Intergalactic Limited 6 months development funding - first tranche