The non-custodial trading platform dYdX will issue a management token, part of which will be distributed to users during the airdrop.
The project website says that 75,000,000 DYDX (7.5% of the emission) will be available to users who have used the platform until July 26, 2021.
To participate in the airdrop, you will need to meet certain trading volume targets.
“Users who have made transactions in the second level dYdX protocol can receive the earned tokens,” the platform representatives explained.
The table below shows the options for distributing tokens among traders depending on the deposited funds and trading volumes during the “first 28-day era” (Epoch 0).
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Data on the level of activity and the corresponding distribution option can be viewed in a special section of the site.
“Users can achieve their goals for receiving tokens before the end of Epoch 0. Any unclaimed rewards will be canceled and automatically sent to the community treasury,” the project’s website says.
The developers also announced the launch of the dYdX Foundation, an independent organization headquartered in Zug, Switzerland.
According to them, this is an important step towards the complete decentralization of the dYdX protocol. The key element of the new management system is to become the DYDX token, with the help of which users can vote for new proposals and platform functions.
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Traders from the USA and some other jurisdictions, the list of which is not specified, will not be able to participate in the DYDX distribution.
Recall that in February dYdX introduced the second level protocol, and in April launched perpetual swaps based on it.
In June, dYdX raised $ 65 million from a16z, Polychain Capital, Three Arrows Capital, Paradigm, and other investors.