dYdX

dYdX stands out as a leading platform for professional trading within the decentralized finance sector. It's recognized for pioneering decentralized margin trading and derivatives, and it was the first to introduce flash loans and DEX aggregators back in 2018. Developed on a unique Layer-1 blockchain using the Cosmos SDK, dYdX offers a top-tier decentralized trading experience characterized by high leverage, substantial liquidity, and minimal fees. The community governs the platform through the DYDX token, emphasizing a transparent and user-centric financial ecosystem. This November marks the launch of dYdX Unlimited, featuring immediate market listings, the MegaVault liquidity engine, enhanced trading rewards, and lifetime affiliate commissions, setting a new benchmark for decentralized trading.

The dYdX Chain is a proof-of-stake blockchain network constructed with the Cosmos SDK, using CometBFT for consensus processes. The DYDX token serves as the Level 1 protocol token for the dYdX Chain, as decided by the dYdX community through both Snapshot and on-chain votes. Token holders have the option to operate a Validator or stake their tokens with one, thereby contributing to the security and management of the dYdX Chain network.

DYDX is distributed by validators on the dYdX Chain to users on a 1:1 basis, proportional to the amount of Ethereum-based DYDX (ethDYDX) each user transfers to the wethDYDX Smart Contract. The distribution of DYDX mirrors that of ethDYDX, which has evolved since its introduction on August 3, 2021, following several governance proposals. The current distribution of ethDYDX is as follows:

* 27.7% allocated to Investors
* 15.3% allocated to Employees and Consultants of dYdX Trading or Foundation
* 7.0% reserved for Future Employees & Consultants of dYdX
* 14.5% allocated for User Trading Rewards
* 5.0% set aside for Retroactive Rewards
* 3.3% meant for Liquidity Provider Rewards
* 26.1% allocated to the Community Treasury
* 0.6% designated for the Liquidity Staking Pool
* 0.5% allocated to the Safety Staking Pool

Source: dYdX Documentation