{"id":336604,"date":"2021-09-09T01:21:18","date_gmt":"2021-09-08T22:21:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dydx-exchange-releases-governance-token-making-its-airdrop-worth-up-to-100k\/"},"modified":"2021-09-09T01:21:18","modified_gmt":"2021-09-08T22:21:18","slug":"dydx-exchange-releases-governance-token-making-its-airdrop-worth-up-to-100k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dydx-exchange-releases-governance-token-making-its-airdrop-worth-up-to-100k\/","title":{"rendered":"# dYdX exchange releases governance token, making its airdrop worth up to $100K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40a9639b88e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40a9639b88e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dydx-exchange-releases-governance-token-making-its-airdrop-worth-up-to-100k\/#The_ongoing_shift_to_layer-two_solutions\" >The ongoing shift to layer-two solutions<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># dYdX exchange releases governance token, making its airdrop worth up to $100K  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>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. <\/p>\n<p>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.<\/p>\n<p>Data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/dydx\">CoinGecko<\/a> shows that on its first day of trading live in the markets, DYDX is trading at a price of $10.28 at the time of writing after hitting an intra-day high at $14.24. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/9253928e-cf1d-45c4-bfad-b1a274056461.png\"><figcaption style=\"text-align: center;\"><em>DYDX\/USD 5-min chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/dydx\"><em>CoinGecko<\/em><\/a><\/figcaption><\/figure>\n<p>The number of tokens received by each user was determined by their previous trading actively on the platform, with the lowest tier user receiving 310 tokens for trading at least $1 on the exchange, and the highest tier user earning 9,529 tokens for trading volumes exceeding $1 million.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/63b8ab57-960b-4d0e-a603-7ca13f05167d.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Airdrop token distribution. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dydx.foundation\/blog\/ru\/introducing-dydx-token\"><em>dYdX Foundation<\/em><\/a><\/figcaption><\/figure>\n<p>At the daily high of $14.24, the airdrop was worth between $4,414 and $135,692 with the average user who traded between $1,000 and $10,000 in value on the platform receiving 1,163 DYDX worth $16,561.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Ethereum layer-twos reportedly processing more transactions than Bitcoin<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_ongoing_shift_to_layer-two_solutions\"><\/span>The ongoing shift to layer-two solutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The retroactive &#8216;release&#8217; of the DYDX governance token marks a big step for the protocol as it embarks on its path to becoming a fully decentralized, community-governed platform. It is and another sign of a larger shift by a growing number of projects shifting to layer-two solutions in order to operate in a lower fee environment.<\/p>\n<p>Many blockchain projects are migrating to various cross-chain and layer-two solutions like Polygon and dYdX was actually one of the first decentralized exchanges to announce that it would launch on StarkWare,\u00a0a layer-two solution it developed in conjunction with StarkEx. <\/p>\n<p>According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AntonioMJuliano\/status\/1435412508555169796\">data<\/a> from dYdX, at the close of the first mining epoch, there were 32,700 DYDX holders and the platform had transacted $13.8 billion in monthly trading volume and $141 million in market-maker capital has been staked.\u00a0<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dydx-exchange-releases-governance-token-making-its-airdrop-worth-up-to-100k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# dYdX exchange releases governance token, making its airdrop worth up to $100K &#8221; 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":336605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvMGI2OTkxOTAtNWYxOS00ODFlLWJiNjYtZDE2ZDY5ZGU1ODdlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[84148,74867,74972,74863,74877,75012,74891,75846,95119,73785],"class_list":["post-336604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-airdrop","tag-altcoin","tag-bitcoin-futures","tag-cryptocurrencies","tag-decentralized-exchange","tag-derivatives","tag-ethereum","tag-futures","tag-layer2","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/336604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=336604"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/336604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/336605"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=336604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=336604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=336604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}