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  • 👋Introduction
  • 🗒️Legal Disclaimer
  • Start Here
    • 🪙DYDX Token
    • 🧮DYDX Token Allocation
    • 💼dYdX Fee Schedule
  • Modules
    • 🔐Staking
      • How to Stake
      • How to Redelegate
      • How to Unstake
    • 🔁Distribution
      • How to Claim the Staking Rewards
    • 🏛️Governance
      • Proposal Lifecycle
      • How to Submit a Proposal
      • Proposal Submission CLI Guide
      • How to Vote
      • ⛓️Governance Adjustable Parameters
        • Trading Stats
        • Fee Tiers
        • Trading Core
        • Safety
        • Perpetual
        • Markets
        • CLOB
        • Updating Live Market
        • Instant Market Listings Deposit
    • 🏦Community Treasury
    • 🛅Trading Rewards and Rewards Module
    • ⚔️Slashing
  • UNLIMITED FEATURES
    • ⚡Instant Market Listings
    • 🗝️MegaVault
    • 🫂Affiliate Program
  • RELEVANT LINKS
    • 🖇️Relevant Links & Data Sources
      • Relevant Links
      • Relevant Data Sources and Dashboards
  • dYdX DAO
    • dYdX Ecosystem Development Program
    • dYdX Operations SubDAO
    • dYdX Treasury SubDAO
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DYDX Token

PreviousLegal DisclaimerNextDYDX Token Allocation

Last updated 6 months ago

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DYDX is the dYdX Chain's Layer 1 token, as adopted by the dYdX community, through dYdX governance ( and ).

DYDX, the dYdX Chain's L1 token, serves three key purposes: Staking, Security, and Governance.

  1. Staking: DYDX holders have the option to serve as validators (and self-delegate) or to delegate their stake to existing validators. Such delegation increases the likelihood of the chosen validators entering or staying in the active validator set, thereby becoming a participant in the network’s consensus process.

  2. Security: Staking DYDX directly contributes to dYdX Chain security. As more DYDX holders choose to stake their tokens across a diverse range of validators in the network and the total amount of stake on the network increases, it becomes increasingly difficult for a coordinated attack to influence a consensus decision.

  3. Governance: DYDX empowers DYDX holders to propose and vote on proposals, directly influencing the evolution of the dYdX Chain through a democratic process. The subject matter of proposals can vary from changing a governable parameter on the dYdX Chain, spending dYdX community funds, and updating the software that dYdX Chain nodes are running, among other things.

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