DYDX Token Allocation
An overview of the $DYDX token allocation.
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An overview of the $DYDX token allocation.
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A total of 1,000,000,000 $DYDX have been minted on August 3rd, 2021, at 15:00:00 UTC, and started to become accessible over five (5) years. The current allocation of the total supply of $DYDX is as follows:
50.0% (500,000,000 $DYDX) to the community as follows:
26.1% (261,133,225 $DYDX) to the Community Treasury,
14.5% (144,693,506 $DYDX) based on the Trading Rewards Formula,
5.0% (50,309,197 $DYDX) to past users who complete certain trading milestones on the dYdX Layer 2 Protocol (Retroactive Mining Rewards),
3.3% (32,794,525 $DYDX) based on the Liquidity Provider Rewards Formula(s),
0.6% (5,779,608 $DYDX) to users staking $USDC to a Liquidity Staking Pool,
0.5% (5,289,939 $DYDX) to users staking $DYDX to a Safety Staking Pool,
27.7% (277,295,070 $DYDX) to past investors of dYdX Trading Inc.,
15.3% (152,704,930 $DYDX) to founders, employees, advisors, and consultants of dYdX Trading Inc. or dYdX Foundation, and
7.0% (70,000,000 $DYDX) to future employees and consultants of dYdX Trading Inc. or the dYdX Foundation.
Although the community allocation has been established as laid out above, $DYDX holders have full control, via governance, over how it is used going forward.
The initial five-year allocation of the total supply of $DYDX was as laid out below, it was then followed by several governance proposals that changed the initial allocation:
50.0% (500,000,000 $DYDX) to the community as follows:
5.0% (50,000,000 $DYDX) to a Community Treasury,
25.0% (250,000,000 $DYDX) based on the Trading Rewards Formula,
In DIP 16 and DIP 20, the dYdX community voted to reduce trading rewards by a total of 2.3M $DYDX. (958,904 $DYDX from DIP 16 and 1,294,520 $DYDX from DIP 20). The 2.3M $DYDX will accrue in the Rewards Treasury and can be used by the dYdX community with a governance vote.
In DIP 29, the dYdX community voted to reduce trading rewards by ⅓ from Epoch 30-32 on dYdX v3 to the following values:
Epoch 30: 1,054,795 $DYDX
Epoch 31: 527,398 $DYDX
Epoch 32: 0 $DYDX
7.5% (75,000,000 $DYDX) to past users who complete certain trading milestones on the Layer 2 protocol (Retroactive Mining Rewards),
After Epoch 0, 24,690,803 unclaimed $DYDX from the Retroactive Mining rewards program were transferred to the Community Treasury.
7.5% (75,000,000 $DYDX) based on the Liquidity Provider Rewards Formula(s),
In DIP 24, the dYdX community voted to reduce Liquidity Provider rewards by 50% from 1,150,685 $DYDX per epoch to 575,343 $DYDX per epoch. The excess 575,342 $DYDX per epoch will accrue in the Rewards Treasury and can be used by the dYdX community with a governance vote.
In DIP 29, the dYdX community voted to reduce Liquidity Provider rewards by ⅓ from Epoch 30-32 on dYdX v3 to the following values:
Epoch 30: 383,562 $DYDX
Epoch 31: 191,781 $DYDX
Epoch 32: 0 $DYDX
2.5% (25,000,000 $DYDX) to users staking $USDC to a Liquidity Staking Pool,
In DIP 14, the dYdX community voted to set the rewards associated with staking $USDC to 0. The 383,562 $DYDX previously distributed to $USDC stakers will accrue in the Rewards Treasury and can be used by the dYdX community with a governance vote.
2.5% (25,000,000 $DYDX) to users staking $DYDX to a Safety Staking Pool,
In DIP 17, the dYdX community voted to set the rewards associated with staking $DYDX to 0. The 383,562 $DYDX previously distirbuted to $DYDX stakers will accrue in the Rewards Treasury and can be used by the dYdX community with a governance vote.
27.7% (277,295,070 $DYDX) to past investors of dYdX Trading Inc.,
15.3% (152,704,930 $DYDX) to founders, employees, advisors, and consultants of dYdX Trading Inc. or dYdX Foundation, and
7.0% (70,000,000 $DYDX) to future employees and consultants of dYdX Trading Inc. or dYdX Foundation.
On September 8, 2021, the initial transfer restrictions on the DYDX token were lifted.
The following chart shows the total liquid supply of DYDX over time:
