Overview of the Retroactive Mining Rewards program.
5.0% of the token supply (50,309,197 $ethDYDX) was distributed to past users of any dYdX protocol who complete certain trading milestones on dYdX v3, except for users located in a jurisdiction where $ethDYDX is not permitted, including the United States. Initially, 7.50% of the initial token supply (75,000,000 $ethDYDX) was reserved for past users of any dYdX protocol, but unclaimed Retroactive Mining Rewards were transferred to the community treasury at the end of Epoch 0.
Reward historical dYdX users with a retroactive reward based on past usage.
Incentivize historical dYdX users to trade on dYdX v3.
The success of dYdX v3 is the result of thousands of community members who have been trading on dYdX v3 and its predecessors over the past three years.
$ethDYDX was allocated to historical users of all dYdX protocols (except for users located in a jurisdiction where ethDYDX is not permitted, including the United States) based on a snapshot ending July 26, 2021, at 00:00:00 UTC. There were five allocation tiers which take into account a user's past activity across all dYdX protocols.
To claim $ethDYDX, historical users must meet the following milestones on Layer 2 Perpetuals within the first 28-day epoch (Epoch 0):
Users were able to reach their claim milestones until the end of Epoch 0. All unearned rewards were forfeited and automatically distributed to the community treasury. Rewarded $ethDYDX tokens via the Retroactive Mining Rewards will become claimable in perpetuity and transferable once the initial transfer restriction period is lifted.
Who was eligible for retroactive rewards?
Past dYdX users who traded on dYdX protocols (perpetual, margin, spot) on Layer 2 or Layer 1 or deposited funds into dYdX’s borrow / supply pools are eligible to receive $ethDYDX through retroactive rewards.
In line with restrictions on the availability of $ethDYDX and dYdX v3 in the United States, retroactive mining is not available to users who are residents of, or incorporated or headquartered in, the United States or any other prohibited jurisdiction. Any accounts that appeared to be clearly associated with bot activity speculating on a future airdrop were also excluded from retroactive rewards.
All retroactive rewards allocations are final and cannot be changed.
What happens if I don’t reach my claim milestone?
To claim the full allocation of $ethDYDX tokens, users must meet their specific target volume tier trading perpetuals on dYdX v3.
Earned retroactive rewards are linearly claimable with the target volume. For example, if a user’s claim milestone is $5,000 in trading volume on dYdX v3 but the user only trades $2,500 in volume over the course of epoch 0, the user will only be able to claim 50% of the allocated reward.
Any unclaimed $ethDYDX at the end of the epoch 0 was forfeited and automatically distributed to the community treasury.
When can I withdraw and transfer my claimed $ethDYDX retroactive rewards?
Earned $ethDYDX tokens via the Retroactive Mining Rewards became claimable and transferable once the initial transfer restriction period is lifted.
On approximately September 8, 2021 15:00:00 UTC, 8 days after the end of Epoch 0, the initial transfer restrictions was lifted and earned $ethDYDX tokens via the Retroactive Mining Rewards can be claimed, withdrawn, transferred, or delegated.