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dYdX (ethDYDX)

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 Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. 
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<div class="cointelegraph">
 Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers.
 On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. 
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 <img src="https://cdn.thebittimes.com/images/2023/08/29/727b939fbcbcb57584f9b6aeae157ec1.webp">
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 Upcoming dYdX unlock event. Source:&nbsp;token.unlocks.app
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 The remaining 4.03 DYDX <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s will be split between liquidity provider <a rel="dofollow" title="rewards" href="https://thebittimes.com/tag/rewards.html">rewards</a> (1.15 million <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s <a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> $2.47 million) and trading <a rel="dofollow" title="rewards" href="https://thebittimes.com/tag/rewards.html">rewards</a> (2.88 million <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s <a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> $6.18 million).
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 <img src="https://cdn.thebittimes.com/images/2023/08/29/e023bbd3d580fa70ae18c1c35d6fe873.webp">
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 Full funds allocation for dYdX. Source:&nbsp;token.unlocks.app
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 dYdX conducted an identical <a rel="dofollow" title="unlock" href="https://thebittimes.com/tag/unlock.html">unlock</a> event on Aug. 1 with the same allocation of funds. Data on dYdX’s full allocation from TokenUnlocks suggests that investors hold the highest allocation at 27.7%, followed by trading <a rel="dofollow" title="rewards" href="https://thebittimes.com/tag/rewards.html">rewards</a> and <a rel="dofollow" title="community" href="https://thebittimes.com/tag/community.html">community</a> <a rel="dofollow" title="treasury" href="https://thebittimes.com/tag/treasury.html">treasury</a> at 20.2% and 16.2% respectively.
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 <img src="https://cdn.thebittimes.com/images/2023/08/29/500c19966923a40cef0df5ac12043822.webp">
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 Total unlock progress for dYdX. Source:&nbsp;token.unlocks.app
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 DYDX comes with a maximum supply of 1 billion <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s and has over 75% of the <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s locked, as shown above.
 Related: dYdX exchange launches testnet for ‘fully decentralized’ version 4
 dYdX founder Antonio Juliano recently recommended crypto entrepreneurs to explore markets outside the United States. 
 <blockquote class="twitter-tweet">
 Crypto is aligned with American values. What could be more American &amp; capitalist than a financial system of the people, by the people, and for the people That is literally what we’re building here. America will realize that eventually— Antonio | dYdX (@AntonioMJuliano) August 25, 2023
 </blockquote> 
 Juliano emphasized that crypto startups could scale faster overseas in friendlier markets:
 <blockquote>
 “Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years. It’s not really worth the hassle/compromises. Most of the market is overseas anyways. Innovate there, find PMF [product market fit], then come back with more leverage.”
 </blockquote>
 As the U.S. government continues to drag its heels on establishing crypto regulation, Juliano suggested that the crypto sector needs to grow further to have more sway over U.S. policy.
 Magazine:&nbsp;Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon
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Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/dydx-to-unlock-6-52m-tokens-worth-14m-for-community-treasury-rewards-tbt60755.html">https://thebittimes.com/dydx-to-unlock-6-52m-tokens-worth-14m-for-community-treasury-rewards-tbt60755.html</a>

dYdX to unlock 6.52M tokens worth $14M for community treasury, rewards

TheBitTimes

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