dYdX Foundation Launched dYdX Governance Token For dYdX Protocol
dYdX is a protocol for short selling and derivatives built on the Ethereum blockchain. dYdX provides decentralized peer-to-peer shorting, lending, and options trading of any Ethereum based token.
The platform has recently launch its governance token, DYDX. The initial distribution will occur over the following 28 days. DYDX Token will be transferrable at approximately September 8, 2021 at 15:00 UTC. The token was already deployed on Ethereum.
DYDX WILL ALSO BE RELEASING:
- A new governance product available at dYdX Community
- Retroactive mining rewards for past users of dYdX protocols
- Liquidity mining rewards for traders and liquidity providers on dYdX’s Layer 2 Perpetuals
- A liquidity staking pool where $USDC stakers can earn rewards for providing liquidity
- A safety pool where DYDX stakers can earn rewards for securing the system
- Trading fee discounts based on DYDX holdings
dYdX is a market leader in developing trustless and open protocols for advanced crypto-financial products. dYdX supported over $11 billion in borrowing and flash transactions from dYdX liquidity pools.
UNDERSTANDING DYDX TOKEN ECOSYSTEM
- DYDX is a governance token that allows the dYdX Protocol’s community to truly own and govern the dYdX Layer 2 protocol. By enabling shared control, DYDX aligns incentives between traders, liquidity providers, and partners of the Layer 2 protocol.
- DYDX enables a robust ecosystem around governance, rewards, and staking. Each designed to drive future growth and decentralization of the dYdX Layer 2 protocol
- DYDX are two staking pools designed to promote liquidity and safety on the dYdX Layer 2 protocol.
- Rewards programs for trading and liquidity provision on dYdX Layer protocol and for past usage of all dYdX protocols will help drive growth and adoption of the dYdX Layer 2 protocol.
REWARDS AND STAKING POOLS
The DYDX governance token can be earn in two ways via rewards using the protocol or through staking $USDC or DYDX pools. All rewards and staking contracts operate on 28 day cycles referred to as epochs
ABOUT dYdX Protocol
dYdX is a protocol for short selling and derivatives built on the Ethereum blockchain. dYdX provides decentralized peer-to-peer shorting, lending, and options trading of any Ethereum based token
RESOURCES
dYdX Foundation Blog
