According to Cointelegraph: Decentralized exchange (DEX) platform dYdX is set to unlock $14.02 million worth of DYDX tokens dedicated to the community treasury and rewards for traders and liquidity providers. On August 29, dYdX will release 6.52 million in-house tokens, which represent 3.76% of the DYDX circulating supply. Out of this, 2.49 million DYDX tokens, valued at $5.36 million, will be allocated to the community treasury, which funds contributor grants, community initiatives, and liquidity mining, among other programs.
The remaining 4.03 million DYDX tokens will be divided between liquidity provider rewards (1.15 million tokens worth $2.47 million) and trading rewards (2.88 million tokens worth $6.18 million). dYdX conducted a similar unlock event on August 1 with the same allocation of funds. Data from TokenUnlocks indicates that investors hold the highest allocation at 27.7%, followed by trading rewards and community treasury at 20.2% and 16.2%, respectively.
DYDX has a maximum supply of 1 billion tokens, with over 75% of the tokens locked. dYdX founder Antonio Juliano recently advised crypto entrepreneurs to explore markets outside the United States, emphasizing that crypto startups could scale faster overseas in friendlier markets. As the U.S. government continues to delay establishing crypto regulation, Juliano suggested that the crypto sector needs to grow further to have more influence over U.S. policy.
