Decentralized exchange (DEX) platform dYdX is set to unlock approximately $14.02 million worth of its native DYDK tokens, distributing them across its community treasury, as well as offering rewards to traders and liquidity providers.
Scheduled for August 29, dYdX plans to release 6.52 million tokens, equivalent to 3.76% of the total circulating supply of DYDX.
Among these, a portion of 2.49 million DYDX tokens, valued at $5.36 million, will be assigned to the community treasury.
This fund will support various initiatives, including grants for contributors, community-driven projects, and liquidity mining efforts.
The remaining 4.03 million DYDX tokens will be divided between liquidity provider rewards and trading rewards.
Liquidity providers are set to receive 1.15 million tokens, totaling $2.47 million, while trading rewards will be granted 2.88 million tokens valued at $6.18 million.
This initiative follows a previous unlock event on August 1, which followed a similar fund allocation pattern.
Insights from TokenUnlocks reveal that investors hold the largest share at 27.7%, trailed by trading rewards at 20.2%, and the community treasury at 16.2%.
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DYDX has a total token supply capped at 1 billion tokens, with over 75% of these tokens currently locked.
Antonio Juliano, the founder of DYdX, has recently advised cryptocurrency entrepreneurs to explore opportunities in international markets beyond the United States.
Juliano underlines that crypto startups could experience accelerated growth in more accommodating foreign markets.
He suggested that, given the challenges and compromises associated with serving US customers, crypto builders should temporarily divert their focus away from the US market and consider re-entry after 5-10 years.
Juliano emphasizes that a substantial portion of the crypto market is situated overseas, thus encouraging innovators to discover product-market fit and innovate in these regions before returning to the US market with increased leverage.
Juliano’s perspective arises from the sluggish progress of US crypto regulation.
He believes that the crypto sector’s influence on US policy would strengthen with further growth and development.
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