February 8, 2024

Launch Incentives Season 1 Distribution

dYdX
Launch Incentives Season 1 Distribution

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!

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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.

About dYdX and Terms

Here at dYdX, our mission is to democratize access to financial opportunity. We believe that v4 software will represent notable progress in service of that mission. The events in the global economy that have transpired over the last year have only reinforced the need for open, transparent, and permissionless financial products. We’re excited for v4 software to better meet those needs.

If building the future of a decentralized exchange and open finance is something you’re interested in, check out what it’s like to work at dYdX and our open roles!

To ask additional questions, join the discussion on Discord, participate in the dYdX community, or follow us on Twitter. We’re excited to continue building the dYdX Chain and will continue to release updates over the coming months.

Terms and Conditions: This post is subject to the dYdX Terms of Use.  The dYdX interface and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada ("Blocked Persons"), or other Restricted Persons (as defined in the dYdX Terms of Use). dYdX products and services are not intended for, and should not be used by, Blocked Persons or Restricted Persons. Terms of Use specific to v4 software can be found here.

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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.

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