⛏️Retroactive Mining Rewards

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.

Objectives

• Reward historical dYdX users with a retroactive reward based on past usage.

• Incentivize historical dYdX users to trade on dYdX v3.

Overview

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 that 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.

FAQ

Who was eligible for retroactive rewards?

Past users of dYdX who engaged in trading 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. However, residents of, or entities based in, the United States or other prohibited jurisdictions are excluded from retroactive mining due to restrictions. Additionally, accounts associated with bot activity speculating on future airdrops are also excluded. All retroactive rewards allocations are final and non-changeable.

What happens if I don’t reach my claim milestone?

Users must meet their specific target volume tier trading perpetuals on dYdX v3 to claim the full allocation of $ethDYDX tokens. Retroactive rewards are earned linearly with the target volume, meaning if a user's claim milestone is $5,000 but they only trade $2,500, they can only claim 50% of the reward. Any unclaimed $ethDYDX at the end of epoch 0 is forfeited and distributed to the community treasury.

When can I withdraw and transfer my claimed $ethDYDX retroactive rewards?

$ethDYDX tokens earned through Retroactive Mining Rewards became claimable and transferable after the initial transfer restriction period was lifted. This occurred around September 8, 2021, at 15:00:00 UTC, which was 8 days after the end of Epoch 0. Users were then able to claim, withdraw, transfer, or delegate their earned $ethDYDX tokens.