7.50% of the initial token supply (
75,000,000 DYDX) will be distributed to past users of any dYdX protocol who complete certain trading milestones on the Protocol, except for users located in a jurisdiction where DYDX is not permitted, including the United States. To claim earned tokens, users will need to trade on dYdX’s Layer 2 Protocol and achieve their respective claim milestone.
Reward historical dYdX users with a retroactive reward based on past usage.
Incentivize historical dYdX users to trade on dYdX's Layer 2 Protocol.
The success of the dYdX Layer 2 Protocol is the result of thousands of community members who have been trading on the dYdX Layer 2 Protocol and its predecessors over the past three years.
DYDX has been allocated to historical users of all dYdX protocols (except for users located in a jurisdiction where DYDX is not permitted, including the United States) based on a snapshot ending July 26, 2021, at 00:00:00 UTC. There are five allocation tiers which take into account a user's past activity across all dYdX protocols.
To claim DYDX, historical users must meet the following milestones on Layer 2 Perpetuals within the first 28-day epoch (Epoch 0):
Any historical volume on the dYdX Layer 2 Protocol counts towards a user’s claim milestone. Progress towards your claim milestone can only be viewed at trade.dydx.exchange/portfolio/rewards because the dYdX Foundation does not have visibility into each user's ongoing volume.
Users will be able to reach their claim milestones until the end of Epoch 0. All unearned rewards will be forfeited and automatically distributed to the community treasury. Rewarded DYDX tokens via the Retroactive Mining Rewards will become claimable in perpetuity and transferable once the initial transfer restriction period is lifted.
Past dYdX users who have 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 DYDX through retroactive rewards.
In line with restrictions on the availability of DYDX and the dYdX Layer 2 Protocol 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.
Past dYdX users can view their past activity and tier for Retroactive Mining at trade.dydx.exchange/portfolio/rewards. To earn DYDX, users must trade on the dYdX Layer 2 Protocol at trade.dydx.exchange to meet their criteria threshold.
To claim the full allocation of DYDX tokens, users must meet their specific target volume tier trading perpetuals on the dYdX Layer 2 Protocol.
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 the dYdX Layer 2 Protocol 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 DYDX at the end of the epoch 0 will be forfeited and automatically distributed to the community treasury.
Earned DYDX tokens via the Retroactive Mining Rewards will become 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 will be lifted and earned DYDX tokens via the Retroactive Mining Rewards can be claimed, withdrawn, transferred, or delegated.