The dYdX exchange is running on top of a layer-2 and allows for decentralized trading that supports multiple financial products such as perpetual, margin trading, leveraged trading, and spot trading. In simple terms, it combines off-chain order books with an on-chain settlement layer to enable trading.
Having veDYDX offers a few opportunities for its holders compared to just having DYDX. There could be a time lock model as well, however the exact time yet still has to be determined.
When voting, veDYDX will be used to account for the amount of votes instead of DYDX. The exact ratio still has to be determined at the time of writing.
There could be a gauge weight system in place which can be used by veDYDX holders to incentivise the liveness of specific markets.
The current proposal doesn’t mention anything regarding revenue sharing with veDYDX holders.