2023-09-11
In August dYdX has begun the process of
migrating DYDX tokens from Ethereum to dYdX chain. dYdX Chain uses
proof-of-stake mechanism. Validators are required to stake the tokens to secure
dYdX chain.
dYdX Chain has launched public testnet.
It currently has 57 validators. The public testnet has a block time of 1.8
seconds and 2.9 million transactions.
DYDX token utility
1. It is a governance token that allows
dYdX community to govern the protocol.
2. It provides traders with trading fee
discounts.
14.5% of DYDX token total supply will allocate
to users trading rewards.
DYDX token uses for securing and
governing dYdX chain.
dYdX token on Etherscan
etherscan.io/token/0x92d6c1e31e14520e676a687f0a93788b716beff5
dYdX Foundation
dYdX Foundation continues to build
brand awareness around the world through social media platforms including
Twitter, Discord, LinkedIn, and YouTube.
dYdX is committed to build
decentralization through the Decentralized Autonomous Organization (DAO).
dYdX has 13 full-time workers and 6
contractors.
Facts about dYdX token
Founder: Antonio Juliano
Ranking: 93 largest
crypto by market cap.
Market cap: $301 million.
Fully diluted market cap: $1.927
billion.
Total value locked: $343 million.
