Dydx Protocol Unlocks Airdrop Rewards; Users Get up to $50K
Dydx, a decentralized exchange, finally unlocked its airdrop rewards for users. Its governance token, dydx, was locked due to airdrop restrictions since the protocol announced its distribution on August 3rd. Since its release the price has skyrocketed, giving some of the more active users on the platform more than $50K worth of dydx. However, some users were unable to reclaim the airdrop due to location restrictions. Dydx Unlocks Airdrop, Price Skyrockets Dydx, a derivatives decentralized exchange, announced yesterday the unlocking of its airdropped governance token, dydx. The....
Related News
DeFi farmers are claiming to have made hundreds of thousands of dollars by gaming dYdX ‘s recent airdrop. As dYdX’s governance token gains amid speculation that Chinese traders could be migrating to the derivatives DEX, savvy DeFi farmers are claiming to be sitting on six-figure stashes after gaming the protocol’s recent airdrop.DYDX has gained 85% in two days as reports claim that China’s crypto traders are converging on the decentralized margin trading protocol as Beijing moves to further crack down on digital assets.DYDX/USD: CoinGeckoThe exchange’s governance token was airdropped to....
Traders raised their bids for the decentralized exchange token, believing it would benefit from China's decision to classify all crypto transactions as "illegal." Decentralized exchange dYdX's native token DYDX surged by nearly 80% this week as traders assessed its potential against China's recent ban on crypto transactions.The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services....
The DYDX governance token becomes the latest airdrop to surpass $100,000 for the most active users, and the DEX's transaction volumes highlight the rising popularity of layer-2 platforms. Airdrops have been a fan-favorite in the cryptocurrency ecosystem for years because they offer projects a way to reward early adopters and increase token distribution. The latest project to surprise its community of supporters with retroactive rewards for its newly minted token is dYdX, a non-custodial decentralized derivatives exchange that operates on a layer-2 version of the Ethereum (ETH) network.Data....
The protocol chose Cosmos as the best fit as it would not only need decentralization but also the ability to handle and scale 1,000 orders per second. On Thursday, crypto derivatives platform dYdX, which is currently built on Ethereum layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its v4 update. The firm cites the Cosmos blockchain's decentralization and performance as reasons for being a "best fit" for building dYdX for v4.We’re excited to announce that dYdX V4 will be developed as a standalone....
dYdX said that it is looking at full decentralization to offer its users advantages of DeFi that centralized services can’t. Ethereum Layer 2-based crypto derivatives trading platform dYdX has vowed to become “100% decentralized by EOY” via the protocol's V4 update. dYdX primarily offers perpetual contracts, which are derivatives products that borrow elements from both spot margin trading and futures trading but do not have an expiry date. At present only certain components of dYdX are decentralized, including its Ethereum smart contracts, governance and staking. However its “orderbook and....