DYDX Unlock

INTRODUCTION

DYDX holders are bracing for a massive event next month, as 105% of the circulating supply will be distributed to investors and team members.

dYdX Token, a successful DEX in the crypto world, which had managed to attract many investors with regular planning, will continue its development process and distribute its tokens in the new period.

What Is DYDX (dYdX)?

DYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the operation of layer 2 and allows traders, liquidity providers and partners to contribute to the definition of the protocol's future as a community.

Token holders are granted the right to propose changes on the dYdX’s layer 2, and are presented with an opportunity to profit through token staking and trading fee discounts.

Built on Starkwire’s StarkEx scalability engine, layer 2 is used for trading of cross-margined perpetuals on the platform. The scaling solution allows dYdX to increase transaction speed, eliminate gas costs, reduce trading fees and lower minimum trade sizes on the protocol.

An open-source platform with smart contract functionality, dYdX is designed for users to lend, borrow and trade crypto assets. Although dYdX supports spot trading, the main focus of the platform is on derivatives and margin trading.

The exchange was founded in 2017 with over $10 million in seed venture capitalist funding and went live in 2019. DXDY token Initial coin offering (ICO) was on September 9th 2021.

How Many DYDX Coins Are There in Circulation?

There is a total of 1,000,000,000 DYDX minted, which will be distributed over a five year period, starting on August 3rd 2021. 50.00% of the supply will go to the community; 25.00% will be used as trading rewards; 7.50% will be set aside for retroactive mining rewards, 7.50% will be assigned for liquidity provider rewards; 5.00% will go to a community treasury; 2.50% will be dedicated to users staking USDC to a liquidity staking pool and 2.50% — to users staking DYDX to a safety staking pool.

27.73% will be set aside for past investors.15.27% will go to founders, employees, advisors, and consultants.7.00% will be kept for future employees and consultants of dYdX.

How Is the dYdX Network Secured?

DYDX is an ERC-20 token deployed on the Ethereum mainnet. dYdX’s layer 2 scaling solution is built on Starkwire’s ZK-STARKS technology and relies on Ethereum blockchain to verify transaction proofs.

When Will DYDX Trading Begin?

DYDX token first became available for purchase in September 2021.

METHODOLOGY

Reviews are from 2022-10-01 to one day before.

Reviews include price, transactions, active wallets, trading volume, platforms used for dYdX token swap, top holders

Most of the reviews have been done by day.

Some Parameters

The dYdX token price moves according to the market trend. In fact, the news of the release of the token does not affect it much, and if the market conditions become bullish, it can cause an explosive growth of dYdX.

The number of transactions and the number of active wallets are increasing, but in mid-November, a good record was recorded in this field.

Since mid-January, we have seen an increase in the volume and number of transactions.

dYdX Input vs. Output

In this section, we can see the statistics of wallets where dYdX is used as an entry in swaps, along with wallets where dYdX is used as an output of swaps.

Uniswap v3 platform has been used the most in both entry and exit modes.

After that Sushiswap has been used the most.

Top dYdX Holders and more information about them

Currently, the 10 users who have the most dYdX in their wallets are displayed.

In the chart below, their 10 wallet assets are displayed logarithmically.

These 10 users with the most tokens they have can be seen in the form of a donut chart.

They hold a lot of BUSD, BNB and ETH.

CONCLUSION

dYdX has started and continues to operate as a successful DEX.

Token distribution will always increase the motivation of certain investors to highlight the true value of dYdX token.

Although the price of dYdX depends on the market conditions, but with the temporary growth of the prices, we can see a very good and appropriate growth of the dYdX token.