According to Odaily, dYdX, a prominent decentralized exchange, has announced a significant reduction in the monthly unlocking quantity of its native token, DYDX. Starting from July 1, 2024, the number of tokens unlocked each month will decrease from 33 million to 8.3 million, marking a 75% reduction.
This move is seen as a strategic decision by the dYdX officials to manage the supply of their native token more effectively. The reduction in the unlocking quantity is expected to have a significant impact on the token's market dynamics. However, the exact implications of this decision on the token's price and market performance remain to be seen.
It's worth noting that the announcement was made on platform X, but no further details were provided about the reasons behind this decision or its potential impact on the broader cryptocurrency market. As the date of implementation approaches, more information is expected to be released.