dYdX Unlocks $14 Million Worth of DYDX Tokens for Community Treasury and Rewards
Summary:
Decentralized exchange dYdX will unlock $14.02 million worth of DYDX tokens for community treasury and rewards. The tokens will be allocated to liquidity providers, traders, and the community. dYdX founder, Antonio Juliano, recommends crypto entrepreneurs explore overseas markets for faster scaling.
Decentralized exchange (DEX) platform dYdX has announced the release of $14.02 million worth of DYDX tokens. This release is aimed at contributing to the community treasury and rewarding traders and liquidity providers. On August 29, 6.52 million DYDX tokens, equivalent to 3.76% of the circulating supply, will be made available. Within this allocation, 2.49 million tokens will go to the community treasury, while the remaining tokens will be split between liquidity provider rewards and trading rewards. The previous unlock event, conducted by dYdX on August 1, had the same fund allocation. It is worth noting that investors hold the highest allocation of DYDX tokens, followed by trading rewards and the community treasury. Currently, over 75% of the tokens are locked. dYdX founder Antonio Juliano has recommended that crypto entrepreneurs explore overseas markets, which are perceived as being more favorable to crypto startups. Juliano believes that by focusing on these markets, startups can scale faster and gain more leverage. He also emphasized the need for the crypto sector to grow further in order to have a greater influence on U.S. policy, particularly due to the delayed establishment of crypto regulations by the U.S. government.
Published At
8/29/2023 9:00:11 AM
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