dYdX Foundation has published its 2024 semi-annual ecosystem report, highlighting key achievements in decentralized finance (DeFi), including trading volume growth, community incentives, and technological advancements.
dYdX Chain Growth and Market Expansion
- Trading Volume: Processed over $166 billion in trading volume during H1 2024.
- Market Expansion: Launched 40+ new markets and unlocked 800+ additional markets, diversifying trading options for users.
Community Incentives and Governance
- Staking Rewards: Distributed $32 million in rewards to stakers and validators.
Governance Participation:
- 67 proposals submitted, with 62 approved.
- 2,251 voters participated, including 77% of validators.
Tokenomics:
- 75% of DYDX tokens unlocked (remaining tokens to be released by 2026).
- Monthly staking APR: 16.25%.
Product Innovation and Technical Upgrades
- Mobile Apps: Launched iOS and Android apps for seamless trading.
Key Metrics:
- Daily trading volume: $260 million.
- Cumulative trading volume: $16.6 billion.
Strategic Partnerships:
- Collaborated with Nethermind and Hummingbot to integrate advanced trading bots.
Financial Overview
- Funds Received: 10.9 million DYDX tokens (worth $43 million USDC after swap).
Budget Allocation:
- $8 million DYDX staked across 25 validators (estimated 15% annual yield).
- Operational costs: $40.91 million (94% of budget).
- Treasury reserves: 3.4 million DYDX held for long-term stability.
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FAQs
How does dYdX reward stakers?
Stakers earn rewards through a 16.25% APR, with over $32 million distributed in H1 2024.
What governance proposals were approved?
Of 67 proposals, 62 passed, focusing on network upgrades and incentive programs.
How secure is dYdX Chain?
The chain leverages 25 validators and a 15% staking yield to maintain security.
👉 Learn more about DeFi staking
Conclusion
dYdX continues to lead in DeFi innovation, driven by robust governance, strategic partnerships, and scalable trading solutions.
For real-time updates, follow dYdX on Twitter/X and Discord.
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