#DEXE #BinanceSquare #Market #dYdX
The price of dYdX (DYDX) is $2.32 today with a 24-hour trading volume of $167,053,763.20. This represents a -4.30% price decline in the last 24 hours and a 24.90% price increase in the past 7 days. With a circulating supply of 180 Million DYDX, dYdX is valued at a market cap of $413,200,940.
dYdX token is a governance token for the dYdX exchange protocol. Past users of the protocol who trades on margin or on decentralized perpetual swaps are eligible to earn retroactive rewards. Token holders will be able to govern the dYdX Layer 2 protocol built with Starkware to align incentives between traders, liquidity providers, and partners.
A community treasury is allocated in order to grow the ecosystem through grants, liquidity mining programmes, and more which will be decided by the dYdX governance. Aside from governance, traders are eligible for trading discounts when trading on dYdX if they do hold the tokens. Discount fees can go as high as 50% if they hold at least 5 million tokens.