Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers.
On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs.
Upcoming dYdX unlock event. Source: token.unlocks.app
The remaining 4.03 DYDX tokens will be split between liquidity provider rewards (1.15 million tokens worth $2.47 million) and trading rewards (2.88 million tokens worth $6.18 million).
Full funds allocation for dYdX. Source: token.unlocks.app
dYdX conducted an identical unlock event on Aug. 1 with the same allocation of funds. Data on dYdX’s full allocation from TokenUnlocks suggests that investors hold the highest allocation at 27.7%, followed by trading rewards and community treasury at 20.2% and 16.2% respectively.
Total unlock progress for dYdX. Source: token.unlocks.app
DYDX comes with a maximum supply of 1 billion tokens and has over 75% of the tokens locked, as shown above.
dYdX exchange launches testnet for ‘fully decentralized’ version 4
dYdX founder Antonio Juliano recently recommended crypto entrepreneurs to explore markets outside the United States.
Crypto is aligned with American values. What could be more American & capitalist than a financial system of the people, by the people, and for the people
That is literally what we’re building here. America will realize that eventually
— Antonio | dYdX (@AntonioMJuliano) August 25, 2023
Juliano emphasized that crypto startups could scale faster overseas in friendlier markets:
As the U.S. government continues to drag its heels on establishing crypto regulation, Juliano suggested that the crypto sector needs to grow further to have more sway over U.S. policy.