dYdX: New Revenue Distribution to Boost Ecosystem

user avatar

by Giorgi Kostiuk

2 years ago

The dYdX Foundation announced the community's approval of a key proposal for implementing a revenue-sharing mechanism. The decision aims to boost DYDX token utility and competitiveness.

Proposal Approval

On November 15, the proposal was passed with a 76.99% turnout. Over 155 million DYDX tokens, or 89% of the votes, supported the initiative. Recently published by research group nethermind, the proposal addressed DYDX tokenomics and protocol competitiveness. The goal is to enhance DYDX token utility and reduce emissions amid competing protocols.

Revenue Distribution

Under the proposal, 50% of dYdX Chain's revenue will go to the MegaVault, allowing users to deposit USDC for liquidity in exchange for yield. This move incentivizes user participation and supports the decentralized exchange. Additionally, 10% is allocated to the Treasury subDAO to complement staking rewards.

We are proposing to route 50% of protocol revenue to the MegaVault because liquidity is a fundamental component of dYdX’s competitive advantage.

Impact on Ecosystem

Launched on October 26, 2023, the dYdX Chain has already generated over $232 billion in trading volume. More than $39 million has been distributed to validators and stakers. The new revenue distribution aims to increase liquidity, thus enhancing the platform's efficiency and competitiveness.

The approval of the dYdX revenue-sharing proposal represents a significant step towards strengthening the platform's position in the decentralized finance space. The anticipated changes are expected to increase overall competitiveness and ensure sustainable ecosystem growth.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Justin Sun Prize Launched to Transform Scientific Research

chest

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

bdautomated Releases Verified AI Agent Statistics for 2026

chest

bdautomated releases a comprehensive dataset on AI agent statistics for 2026, tracing 75 widely quoted figures back to their original sources.

user avatarMaria Fernandez

Korea Blockchain Week 2026 Announces Key Sponsors and Speakers

chest

Korea Blockchain Week 2026 has unveiled its partner lineup, featuring major players in the digital asset industry, including Upbit, 0G, BRV, Stable, Tria, and BitGo. The event will take place in Seoul from September 29 to October 1, 2026, and will host key speakers discussing significant shifts in the digital asset industry.

user avatarGustavo Mendoza

Morgan Stanley's Bitcoin Accumulation Boosts Market Confidence

chest

Morgan Stanley has been actively accumulating Bitcoin through the ETF route, amassing approximately 622 million worth of the cryptocurrency this month.

user avatarRajesh Kumar

Microsoft Opens Public Feedback for AI Code of Conduct

chest

Microsoft is inviting public feedback on its draft Code of Conduct for AI models until late October, aiming to refine guidelines before finalizing them for 2027.

user avatarLuis Flores

Microsoft AI Releases Draft Code of Conduct for AI Models

chest

Microsoft AI has published a draft Code of Conduct outlining the expected behavior and limitations of its AI models, inviting public feedback for six weeks.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.