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The top two decentralized derivatives platforms, dYdX and GMX, are head-to-head concerning liquidity and trading volumes.The perpetual swap daily trading volume on dYdX ranged between $340 million and $2.6 billion in March, per CoinGecko data. In comparison, GMX did less than $500 million in daily trading volumes.The open interest (OI)
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DYDX token, the native token of the decentralized exchange of the same name, has surged by 26.88% on Monday after a governance vote had been passed to reduce trading rewards by 45%. Original Source
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“For now, due to conservative operations, the DGP still has plenty of funds to continue operating without needing a top-up from the community. As of this writing, the program has ~$2,700,000, which consists of ~$2,170,000 worth of DYDX and ~$530,000 worth of USDC,” developers said. Original Source
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On Jan. 24, the dYdX Foundation, the entity responsible for the dYdX decentralized crypto exchange, announced “changes” to its tokenomics — the way it distributes tokens to early investors, employees and contractors, and, of course, the public.So, what’s uncommon about the situation? The project’s foundation, in agreement with dYdX Trading
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Next month's 150 million token unlock has been reduced, with 83 million tokens allocated to investors being locked until December. Source
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Activity in decentralized exchanges like dYdX and GMX, offering perpetual futures, has picked up pace since the collapse of centralized derivatives giant FTX. Trading volume on dYdX increased to $2.9 billion on Jan. 14, according to data from Nomics, after reaching lows of $212 million after FTX’s unfolding. Perpetuals are
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Though dYdX will continue allowing users to close out their positions, the announcement that it would disallow some kinds of trades – even to protect users – led to attacks from some who believe a “decentralized” platform shouldn’t be able to curtail user activity. Original Source
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Decentralized exchange dYdX has cancelled a $25 deposit promotion after being scrutinized for asking participants to conduct a "liveness check", which identified customers using their webcams. Source
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Decentralized crypto derivatives exchange dYdX says it has ended its short-lived and contentious $25 first deposit bonus promo amid a wave of backlash over its facial recognition requirements for new users. The exchange, however, simply cited “overwhelming demand” as the reason for its short-lived promotional campaign, which ended on Thursday
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Many users on social media have been lambasting decentralized exchange dYdX over the identification verification process to receive a sign up and deposit bonus of $25.In a Wednesday blog post, dYdX announced that new users who deposited 500 USD Coin (USDC) for their first transactions could receive a bonus promotion
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