dYdX (ethDYDX) price

ETHDYDX

#763

A total of 1,000,000,000 ethDYDX have been minted, and started to become accessible over five (5) years, on August 3rd, 2021, at 15:00:00 UTC.

The five-year allocation of the total supply of ethDYDX was initially as follows:

• 27.7% is allocated to Investors
• 14.5% is allocated to User Trading Rewards
• 15.3% is allocated to Employees and Consultants of dYdX Trading or Foundation
• 5.0% is allocated to Retroactive Rewards
• 5.2% is allocated to Liquidity Provider Rewards
• 7.0% is allocated to Future Employees & Consultants of dYdX
• 24.2% is allocated to Community Treasury
• 0.6% is allocated to Liquidity Staking Pool
• 0.5% is allocated to Safety Staking Pool

Since the launch of ethDYDX, several governance proposals have resulted in changes to the initial allocation. The updated allocation as of the start of Epoch 31 (December 19, 2023) is reflected in the pie chart below.

The updated allocation of ethDYDX tokens as of the start of Epoch 31 (December 31, 2023) is as follows:

DYDX is currently available for purchase on the following exchanges: Binance, Huobi Global, KuCoin, Gate.io, Kraken, Poloniex, Uniswap (V3), ​​OKEx, LBank, Sushiswap, Crypto.com Exchange, 0x Protocol, XT.COM, BitZ, WhiteBIT, 1inch Exchange, WOO Network, CoinDCX, Deepcoin, Cryptology, BKEX, DigiFinex, Pionex, BW.com, BitMart, AEX, ZBG, MEXC, BiONE, Bibox, Hoo, Hotbit, Decoin, Bitrue, HitBTC, Tokocrypto, Mandala Exchange, CoinW, BigONE, ZT, AOFEX, WBF Exchange, CoinBene and Bitget.

Cryptocurrency newbie? You can read more about how to enter the market and how to buy BTC, DYDX or any other token in CoinMarketCap education portal — Alexandria.

On June 22, 2022, dYdX Trading Inc.(“dYdX Trading”) announced the next iteration of the dYdX protocol - the dYdX Chain Open Source Software. The dYdX Chain is a proof-of-stake blockchain network and, as such, it requires a Layer 1 (“L1”) protocol token for staking to validators in order to secure the chain and for stakers of the L1 token to govern the network. Holders of the L1 token can use their L1 tokens to run a validator or stake their tokens to a validator in order to participate in securing and governing the network. The wethDYDX Smart Contract enabled the migration of ethDYDX from Ethereum to the dYdX Chain.

On December 7, 2024, the dYdX Community voted to cease dYdX Chain support for the wethDYDX smart contract (the “Bridge”) by June, 2025. After the 6 month period, the dYdX Community has voted to effectively cease support for the Bridge on the dYdX Chain on June 13, 2025. As a result of the discontinuation of support of the wethDYDX Smart Contract on the dYdX Chain, dYdX Chain validators no longer recognize interactions with the Bridge.

ethDYDX holders can no longer convert their ethDYDX tokens into DYDX on the dYdX Chain. Any ethDYDX tokens sent to the wethDYDX Smart Contract will be permanently locked and no DYDX tokens will be credited to any dYdX Chain network address.

41.7M ethDYDX remained unbridged as of the effective Bridge closure. With the dYdX v3 Product Sunset and the closure of the Bridge, unbridged ethDYDX tokens now lack any effective utility.

As of the date of this post, all unbridged ethDYDX tokens are effectively removed from both the total supply and the circulating supply of the DYDX token.

https://www.dydx.foundation/blog/discontinuation-of-ethdydx-bridge

The token allocations for Investors, Employees and Consultants of dYdX Trading or Foundation are subject to transfer restrictions, ethDYDX accruing in the Community and Rewards Treasury can be used by the dYdX community with a governance vote.

Out of the allocations stipulated above apprximately ~34% of total ethDYDX supply is currently in circulation.