Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of native DYDK tokens, which will be allocated to its community treasury and reward traders and liquidity providers.
On August 29, dYdX will issue 6.52 million tokens, accounting for 3.76% of DYDX’s circulating supply. Of this, 2.49 million DYDX tokens (worth $5.36 million) will be allocated to the community treasury. The Treasury funds programs such as donor grants, community initiatives, and liquidity mining.
The remaining 4.03 million DYDX tokens will be allocated to liquidity provider rewards (1.15 million tokens worth $2.47 million) and trading rewards (2.88 million tokens worth $6.18 million).
DYdX conducted the same unlocking campaign with the same allocation of funds on August 1st. data TokenUnlocks’ dYdX total allocation shows that investors hold the highest allocation at 27.7%, followed by trading rewards and community treasury at 20.2% and 16.2% respectively.
DYDX has a maximum supply of 1 billion tokens, with over 75% of the tokens locked, as shown in the chart above.
related: dYdX Exchange Launches Testnet for “Fully Decentralized” Version 4
DYdX founder Antonio Juliano recently advised cryptocurrency entrepreneurs to explore markets outside of the United States.
Cryptocurrencies align with American values. And what could be more American and capitalist than a financial system of the people, by the people, and for the people?
That’s actually what we’re building here.America will finally realize
— Anthony | dYdX (@AntonioMJuliano) August 25, 2023
Juliano emphasized that crypto startups can scale faster in friendlier markets:
“Crypto builders should stop serving US customers for now and try to re-enter in 5-10 years. It’s really not worth the hassle/compromise. Most of the market is overseas anyway. Innovate there, find PMF (product market fit) and come back with more leverage.”
As the U.S. government continues to delay in establishing cryptocurrency regulation, Giuliano said that the cryptocurrency industry needs to develop further in order to have more influence over U.S. policy.
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