{"id":194597,"date":"2023-11-16T12:17:57","date_gmt":"2023-11-16T06:47:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=194597"},"modified":"2023-11-16T12:17:57","modified_gmt":"2023-11-16T06:47:57","slug":"dydx-token-surges-ahead-of-massive-unlock-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dydx-token-surges-ahead-of-massive-unlock-crypto-news\/","title":{"rendered":"DYDX Token Surges Ahead Of Massive Unlock – Crypto News"},"content":{"rendered":"

<\/p>\n

Rally Follows Leading Decentralized Perpetuals Exchange Launching dYdX Chain Last Month<\/p>\n

\n

dYdX\u2019s eponymous governance token is up 20% today and 60% in the past 7 days after the decentralized perpetuals exchange unveiled that DYDX stakers and validators will accrue trading fees from the dYdX Chain.<\/p>\n

On Nov. 13, the dYdX Chain launched<\/a> its beta phase, where users can trade perpetuals of 33 assets. The transition to a full release will take place after a governance vote, which will implement trading rewards being distributed to users who have staked dYdX.<\/p>\n

dYdX routinely processes over $1B in daily volume and has generated over $70M in trading fees in 2023, according to Token Terminal.<\/p>\n

<\/p>\n

Fees Generated By Derivatives Protocols<\/figcaption><\/figure>\n

<\/a><\/p>\n

The dYdX Chain<\/a> was launched by the dYdX Operations subDAO on Oct. 26.<\/p>\n

Notably, the bullish price action comes ahead of a major token unlock, with approximately 150M DYDX set to enter circulation<\/a> on Dec. 1.<\/p>\n

\"DYDX
DYDX Vesting Schedule<\/figcaption><\/figure>\n

Initially, the tokens were slated to be unlocked in January 2023. However, this scheduled unlock event was postponed<\/a> amid the bear market.<\/p>\n

In 2024, nearly 34M DYDX tokens will be unlocked monthly for the first six months.<\/p>\n

DYDX\u2019s circulating supply, currently at 188M tokens, will nearly triple to approximately 553M on June 1, 2024.<\/p>\n

USDC Expands To dYdX Chain<\/h2>\n

dYdX has teamed<\/a> up with USDC issuer Circle to bring the USDC stablecoin natively to the dYdX Chain and the broader Cosmos ecosystem.<\/p>\n

This will be facilitated by Circle\u2019s Cross-chain Transfer Protocol (CCTP), which mints USDC on the destination chain and burns USDC on the sending chain. CCTP will be available starting Nov. 28.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Rally Follows Leading Decentralized Perpetuals Exchange Launching dYdX Chain Last Month dYdX\u2019s eponymous governance token is up 20% today and 60% in the past 7 days after the decentralized perpetuals exchange unveiled that DYDX stakers and validators will accrue trading fees from the dYdX Chain. On Nov. 13, the dYdX Chain launched its beta phase, […]<\/p>\n","protected":false},"author":2,"featured_media":194598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-194597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194597","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=194597"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194597\/revisions"}],"predecessor-version":[{"id":194607,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194597\/revisions\/194607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/194598"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=194597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=194597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=194597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}