A few months ago, we published a blog post detailing the Launch Incentives Program proposed and adopted by the governance community of the dYdX Chain, and managed by Chaos Labs. That program set aside $20M of the DYDX Community Treasury to be distributed over the course of six months. With Season 1 of this program coming to a close, Chaos Labs initiated an on-chain proposal to distribute $5M in total rewards across 2006 accounts. The governance community voted and the proposal passed on February 2nd, and allows eligible traders to claim their rewards! The complete list of accounts and their respective incentive allocations is available here.
The dYdX Chain is made available via the dYdX Ops subDAO front end, and each of the topics discussed herein is subject to change by the applicable governance community (the “Governance Community”). We recommend traders review any documents published by the Governance Community for the most up-to-date information. This blog post is merely intended to provide information about the open-source software that we are developing, which can be adopted by any Governance Community.
Chaos Labs plans to continue to provide recommendations at the end of each season on the distribution of incentives to individual accounts. The recommendations, along with the end-of-season report and relevant data, are openly published on the Chaos Labs blog. You can also look up dYdX addresses in the dYdX Chaos Labs Risk Portal to view their point accumulation. At the end of each season, accounts will receive rewards proportional to the points they’ve accumulated.
Furthermore, with the conclusion of Season 1, traders have now been placed into various Trading Leagues ranging from Bronze to Platinum with the higher leagues offering higher prize pools for Season 2! Happy trading!
The Launch Incentives Program was designed and approved by the DYDX governance community.
Liquid staking now live via Stride!
Traders could now have the option to liquid stake their tokens, just in time for the $5M launch incentives distribution! Liquid staking is provided by Stride’s integration with dYdX chain. This enables traders to stake $DYDX and receive stDYDX while the native token is bonded. Liquid staking via Stride and regular staking via Keplr offer traders flexibility in how they want to utilize their applicable layer 1 tokens. Liquid staking is discoverable via the front-end software but only available via Stride’s third-party site, independent from and unaffiliated with dYdX. Please find more information about the in-app support for liquid staking roadmap here.
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain’s infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
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The dYdX Foundation services and products are not available to persons who are residents of, are located or incorporated in, or have a registered office in the U.S., Canada or a Restricted Territory. More details can be found in our Terms of Use. Learn more about dYdX v4 third-party front end options here.
