This is the 19th 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 18 Highlights
- For Epoch 18 (December 20, 2022 15:00 UTC - January 17, 2022 15:00 UTC). No addresses were identified as wash trading during Epoch 18.
Key Metrics
Performance Indicators
For Epoch 17 (November 22, 2022 15:00 UTC - December 20, 2022 15:00 UTC). No addresses were identified as wash trading during Epoch 17.
Trading Rewards
2,876,712 $DYDX were earned over the course of Epoch 18 and will be distributed to 2,931 traders. This is a slight decrease from Epoch 17 where 3,264 traders were eligible for trading rewards. Learn more about the trading rewards program in our documentation, or our blog posts.
Liquidity Provider Rewards
1,150,685 $DYDX were earned over the course of Epoch 18 and will be distributed to 57 addresses who were eligible for LP rewards in Epoch 17.
67 market (18 new, 49 existing) makers meeting the 0.25% threshold in Epoch 18 are now eligible to earn rewards in Epoch 19. Learn more about the LP Rewards in our documentation, or our blog posts.
Community Treasury
Approximately 766,703 $DYDX vested in the Community Treasury and1,726,028 $DYDX accrued in the Rewards Treasury over the course of Epoch 18. The dYdX community now has access to 42M $DYDX that has accrued in the Community Treasury and Rewards Treasury to use for DAO and community initiatives, contributor grants, liquidity mining, and much more. Learn more about the Community Treasury in our documentation.
Circulating Supply
15.56% 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 18. Learn more about the $DYDX allocation in our documentation.
What's next?
- The Merkle tree data, which is a list of (address, reward) pairs, is available here. Under the hood, the Merkle Distributor smart contract (0x01d3348601968aB85b4bb028979006eac235a588) will distribute $DYDX token rewards according to a Merkle tree of balances.
- Epoch 18 has ended. Welcome to Epoch 19! Epoch 19 started automatically on January 17 at 15:00 UTC and will end on February 14 at 15:00 UTC.
- The Merkle root was proposed on-chain on January 17 at 22:05 UTC and the 7-day waiting period has begun. Epoch 18 rewards will be claimable here on January 24, at 22:05 UTC (7 days after the end of the epoch plus a 7 hour delay). Once tokens have been claimed, they can be transferred or delegated to dYdX governance.
dYdX Governance
- Coming off the successful on-chain vote to launch an operations subDAO by establishing a Guernsey Purpose Trust entity, the dYdX operations subDAO has created a website for the community to provide updates and track progress.
dYdX Ecosystem
- Delegation: If you hold $DYDX but have no time to review proposals, consider delegating the proposing power and/or voting power of your $DYDX and/or $stkDYDX to one of our 24Endorsed Delegates.
- dYdX Grants Program (“DGP”) Updates: The dYdX Grants Trust completed Round 18 of funding, which had 2 grants approved for a total funding amount of $50,000. Read more in their blog post.
General Updates
- On January 12, Charles, CEO of the dYdX Foundation co-hosted a DeFi bootcamp with Jeff from Sei Labs at Cryptobase Shibuya.
- On January 10, the dYdX Foundation announced that they are hiring a Developer Relations Lead. Also, dYdX Foundation is still looking to hire an Operations Associate. If you are interested or have someone great to refer for the role, please do reach out, or apply through this link!
- On January 9, dYdX Quests launched. dYdX Quests is a rewards program that recognizes and rewards community members for their involvement in dYdX events, AMAs, social media, and governance participation. The dYdX Quests is held on the CREW3 platform and its dashboard has several sections: Quests, Leaderboards, Reviews, and Members. It also works with Discord, Twitter, and Telegram to help verify and automate tasks.
- On January 3, the dYdX Merch store officially launched!
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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