The dYdX community votes to contribute $60 million from the treasury to enhance security

💠 The dYdX decentralized derivatives exchange community voted to stake 20 million dYdX Chain tokens, worth approximately 60 million USD at current prices, with staking provider Cosmos Stride to enhance the economic security of network and encourages diversity of shares within its community.

➡️ In a vote with 81% participation, the measure passed with 91% support, although some opponents of the original proposal noted that passing the proposal could result in an APY reduction of dYdX, making the token less attractive to new investors.

Discussion at Coin Addiction 💵