Ethereum-based Layer 2 protocol dYdX released its governance token on September 8. The airdrop surpassed $100.000.revealed plans to release a governance token last month.
Via the token, users can vote on network proposals, receive staking rewards and get trading fee discounts. At the moment, the token trades at about $12.83. DYDX's price peak for the first day was $14.55.
DYDX token has a maximum supply of 1 billion. 7.5% of this initial supply went to previous dYdX users according to their performed activity on the platform. The lowest number of tokens is 310 given for trading at least $1 on the DEX. The highest number is 9529 tokens for trading volumes above $1 million. Leading crypto exchange Binance announced listing the new cryptocurrency in its innovation Zone.