Epoch 31 Review

dYdX Foundation
Jan 24, 2024

Review of Epoch 31 

This is the 32nd edition of dYdX Epoch Review, presenting updates from the dYdX community and ecosystem. To learn more, join us on Discord, Twitter, and the Community Forums.

Epoch 31 Highlights

For Epoch 31 (started on December 19 at 15:00 UTC and ended on January 16 at 15:00 UTC). No addresses were identified as wash trading during Epoch 31.

Performance Indicators

Trading Rewards: 527,398 ethDYDX were earned over the course of Epoch 31 and will be distributed to 5,048 traders. Note, Trading Rewards is decreased to 0 ethDYDX in Epoch 32.

LP Rewards: 191,781 ethDYDX were earned over the course of Epoch 31 and will be distributed to 65 addresses that were eligible for LP rewards in Epoch 31.  Note, LP Rewards will decrease to 0 thDYDX in Epoch 32. Learn more about the LP Rewards in our documentation, or our blog posts.

Treasury Migration: As a result of DIP 29, 40,703,630 ethDYDX was bridged from the Rewards Treasury to the dYdX Chain and 39,788,640 ethDYDX was bridged from the Community Treasury to the dYdX Chain Community Treasury. The balance of the relevant addresses and accounts are as follows:

‍Ethereum

Name Address Balance Details
Community Treasury 0xE710CEd57456D3A16152c32835B5FB4E72D9eA5b 677 ethDYDX
39,788,640 wethDYDX		 677 ethDYDX remains in the Community Treasury and could be migrated to dYdX Chain with a governance vote.
Community Treasury Vester 0x08a90Fe0741B7DeF03fB290cc7B273F1855767D8 27,028,485 ethDYDX ethDYDX in the Community Treasury Vester now vests to 0x0000000000000000000000000000000000000002.
Rewards Treasury 0x639192D54431F8c816368D3FB4107Bc168d0E871 8,469,440 ethDYDX
40,703,630 wethDYDX
Rewards Treasury Vester 0xb9431E19B29B952d9358025f680077C3Fd37292f 188,805,199 ethDYDX ethDYDX in the Rewards Treasury Vester now vests to 0x0000000000000000000000000000000000000001.

The dYdX community on dYdX Chain now has access to 89M $DYDX that has accrued in the Community Treasury to use for DAO and community initiatives, contributor grants, liquidity mining, and much more. Learn more about the dYdX Chain Community Treasury in our documentation.

dYdX Chain

On October 30, 2023, dYdX Foundation announced the open-sourcing of a Bridge User Interface that was later deployed by the Operations subDAO to facilitate interaction with the wethDYDX Smart Contract bridge. Since the genesis of the dYdX Chain, 468M ethDYDX have interacted with the one-way bridge.

Name Address Balance Details
Community Treasury dydx15ztc7xy42tn2ukkc0qjthkucw9ac63pgp70urn 88,925,352.82 DYDX 89M DYDX is available in the Community Treasury for any dYdX DAO and community initiatives.
Community Treasury Vester dydx1wxje320an3karyc6mjw4zghs300dmrjkwn7xtk 163,947,160.73 DYDX 164M DYDX in the Community Treasury Vester.
Rewards Treasury dydx16wrau2x4tsg033xfrrdpae6kxfn9kyuerr5jjp 2,073,767.64 DYDX 2M DYDX in the Rewards Treasury that is distributed for Trading Rewards.
Rewards Treasury Vester dydx1ltyc6y4skclzafvpznpt2qjwmfwgsndp458rmp 51,317,817.66 DYDX 51.3M DYDX in the Rewards Treasury Vester that vests to the Rewards Treasury for Trading Rewards.
Circulating Supply at end of Epoch 31 (Jan 16, 2024) Cumulative Epoch 31
Total Vested ethDYDX in dYdX v3 Community Treasury 678 0
Total Vested ethDYDX in dYdX v3 Rewards Treasury (Community Treasury Allocation) 5,009 0
Total Amount of ethDYDX Bridged to dYdX Chain 80,492,270 0
DYDX vested in the dYdX Chain Community Treasury 8,651,476 4,940,970
Vested ethDYDX and DYDX available to the dYdX community 89,149,433 4,940,970
DYDX transferred to Wintermute to Seed Insurance Fund -382,025 0
Community Treasury Accrued Balance (dYdX v3 + dYdX Chain) 88,767,408 4,940,970
Percentage of Total Supply 8.88% 0.49%

Circulating Supply: 37.91% of the total $DYDX supply (excluding unearned Retroactive Rewards transferred to the Treasury and the $DYDX vested in the Community Treasury) is considered liquid at the end of Epoch 31. Learn more about the $DYDX allocation in our documentation.

Circulating Supply at end of Epoch 31 (Jan 16, 2024) Cumulative Epoch 31
Total DYDX Issuance 1,000,000,000 0
Earned DYDX from Retroactive Rewards 50,309,197 0
Earned DYDX from Trading Rewards 93,324,470 2,073,993
Earned DYDX from Liquidity Provider Rewards 32,794,525 191,781
Earned DYDX from Liquidity Staking Pool 5,779,608 0
Earned DYDX from Safety Staking Pool 5,289,939 0
DYDX Funding transferred to the dYdX Grants Multisig 3,334,000 0
DYDX Funding transferred to the dYdX Operations subDAO 4,539,000 0
DYDX transferred to Wintermute to Seed Insurance Fund 382,024 0
Investors 101,674,859 18,486,338
Employees & Consultants of dYdX Trading or Foundation 55,991,808 10,180,329
Future Employees & Consultants of dYdX Trading or Foundation 25,666,667 4,666,667
Total Circulating Supply 379,086,096 35,599,107
Total Circulating Supply as % of Total Issuance 37.91% 3.56%

Governance Updates

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General Updates

About the dYdX Foundation

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 (including dYdX Unlimited) 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 (including dYdX Unlimited) 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 (including dYdX Unlimited) 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, i ncluding dYdX Unlimited (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 dYdX Unlimited), 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, including dYdX Unlimited) “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.

Depositing into the MegaVault carries risks. Do your own research and make sure to understand the risks before depositing funds. MegaVault returns are not guaranteed and may fluctuate over time depending on multiple factors. MegaVault returns may be negative and you may lose your entire investment.The dYdX Foundation does not operate or has control over the MegaVault and has not been involved in the development, deployment and operation of  any component of the dYdX Unlimited software (including the MegaVault).

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