What Is dYdX Chain DYDX ?

The dYdX Chain is a proof-of-stake blockchain network built using the Cosmos SDK and leveraging CometBFT for consensus. The DYDX token is the L1 protocol token for the dYdX Chain, as agreed by the dYdX community through dYdX governance (Snapshot vote and an on-chain vote) Holders of the DYDX token can use their tokens to run a Validator or stake their tokens to a Validator in order to participate in securing and governing the dYdX Chain network.

What is the Allocation for DYDX?

DYDX is distributed to users by validators on the dYdX Chain on a 1-1 proportional basis based on the amount of Ethereum-based DYDX (ethDYDX) that each user sends to the wethDYDX Smart Contract. The allocation of DYDX is based on the allocation of ethDYDX. The allocation of ethDYDX changed since its launch on August 3, 2021 due to several governance proposals. The updated allocation of ethDYDX: * 27.7% is allocated to Investors * 15.3% is allocated to Employees and Consultants of dYdX Trading or Foundation * 7.0% is allocated to Future Employees & Consultants of dYdX * 14.5% is allocated to User Trading Rewards * 5.0% is allocated to Retroactive Rewards * 3.3% is allocated to Liquidity Provider Rewards * 26.1% is allocated to Community Treasury * 0.6% is allocated to Liquidity Staking Pool * 0.5% is allocated to Safety Staking Pool Source: dYdX Documentation

Migration to the dYdX Chain

The wethDYDX Smart Contract enables the migration of ethDYDX from Ethereum to the dYdX Chain. When interacted with, the wethDYDX Smart Contract would carry out the following functions in a fully permissionless and automated manner: Receive and permanently lock the ethDYDX tokens sent by the user to the wethDYDX Smart Contract; Send a wrapped version of the Ethereum-based DYDX token (“wethDYDX”) to the user on a 1-1 proportional basis on Ethereum; and dYdX Chain Validators can also read and ingest the information in the wethDYDX Smart Contract such that corresponding DYDX can be distributed to users by Validators on the dYdX Chain once there is confirmation that Step 1 above is complete and the ethDYDX is permanently locked in the wethDYDX Smart Contract. More information about the migration of ethDYDX from Ethereum to dYdX Chain is available here.

dYdX Chain (DYDX) Tokenomics

Learn more about DYDX tokenomics, and view project details below and read through this Token Mechanics blog.

What tools does Nimbus offer for effortlessly monitoring dYdX (Native)?

Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor dYdX (Native) effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to dYdX (Native). Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking dYdX (Native) prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.

How does Nimbus enable tracking dYdX (Native) prices with profit and loss?

Nimbus facilitates the tracking of dYdX (Native) prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.

How does Nimbus analyze dYdX (Native), and what insights does it provide?

Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting dYdX (Native) . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their dYdX (Native). Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.

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DYDX Market Statistics

  • Price USD

    $2.14
  • Market Cap

    $1,195,288,382.41
  • Total Volume USD

    $54,677,533.43
  • Total Supply

    754,030,660.00 DYDX
  • Circulating Supply

    558,480,505.00 DYDX
  • Fully Diluted Market Cap

    $1,613,814,770.27
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