DYDX is the L1 token for the dYdX Chain. DYDX can be staked to secure the chain. As a reward for securing the network, 100% of protocol fees are distributed to Stakers, predominantly in USDC. DYDX can be utilized to participate in governance on the dYdX Chain, a fully decentralized, community governed platform. ethDYDX, a governance token for the dYdX v3 protocol, is undergoing a migration to dYdX Chain DYDX. If you have ethDYDX and want to bridge your tokens to the dYdX Chain to unlock expanded DYDX functionalities, read this how-to-bridge guide. For a detailed overview of the functionalities of dYdX Chain DYDX, read the dYdX Foundation’s Token Mechanics blog.
DYDX is the L1 token for the dYdX Chain. DYDX can be staked to secure the chain. As a reward for securing the network, 100% of protocol fees are distributed to Stakers, predominantly in USDC. DYDX can be utilized to participate in governance on the dYdX Chain, a fully decentralized, community governed platform. ethDYDX, a governance token for the dYdX v3 protocol, is undergoing a migration to dYdX Chain DYDX. If you have ethDYDX and want to bridge your tokens to the dYdX Chain to unlock expanded DYDX functionalities, read this how-to-bridge guide. For a detailed overview of the functionalities of dYdX Chain DYDX, read the dYdX Foundation’s Token Mechanics blog.