{"id":183129,"date":"2023-10-29T09:15:10","date_gmt":"2023-10-29T03:45:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183129"},"modified":"2023-10-29T09:15:10","modified_gmt":"2023-10-29T03:45:10","slug":"new-dydx-chain-denominates-trading-fees-in-usdc-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/new-dydx-chain-denominates-trading-fees-in-usdc-crypto-news\/","title":{"rendered":"New dYdX Chain Denominates Trading Fees in USDC – Crypto News"},"content":{"rendered":"
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After finally launching<\/a> its highly anticipated blockchain yesterday, dYdX<\/a> is now trotting a unique new tokenomics scheme.<\/p>\n

Perhaps the most notable change will be that trading fees on the decentralized derivatives platform will now be denominated in the dollar-pegged stablecoin USD Coin<\/a><\/span> as well as DYDX, giving validators the choice between the two.<\/p>\n

Maintained and minted by Circle, USDC is a cryptocurrency that tracks the price of the U.S. dollar and purports<\/a> that every token is backed by a dollar equivalent in a variety of different assets, including corporate bonds and Treasuries.<\/p>\n

The dYdX Foundation also shared with Decrypt<\/i> the new role that the project’s native governance token DYDX will play.<\/p>\n

As dYdX is a Cosmos<\/a><\/span>-based proof-of-stake<\/span><\/a> blockchain that’s been optimized for speedy trading and low fees.\u00a0 The exchange’s governance token can now also be used for staking purposes.<\/p>\n

This means that token holders can become validators of the DYDX chain by staking tokens themselves and securing the network. Holders can also delegate their holdings to other validators.<\/p>\n

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As an added bonus, all fees generated from trading on the platform will be handed out to validators and stakers. And per the platform’s financials, that could come out to quite a generous payout.<\/p>\n

Data collected<\/a> from Token Terminal indicates<\/a> that dYdX has already raked in more than $5.6 million from fees.<\/p>\n

Edited by Stacy Elliott<\/a>.<\/i><\/p>\n

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<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

After finally launching its highly anticipated blockchain yesterday, dYdX is now trotting a unique new tokenomics scheme. Perhaps the most notable change will be that trading fees on the decentralized derivatives platform will now be denominated in the dollar-pegged stablecoin USD Coin as well as DYDX, giving validators the choice between the two. Maintained and […]<\/p>\n","protected":false},"author":2,"featured_media":183130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-183129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=183129"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183129\/revisions"}],"predecessor-version":[{"id":183136,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183129\/revisions\/183136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183130"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}