dYdX Community Votes to Approve $5 Million DYDX Allocation to Season 5 Users
CryptoNewsTerminal Staff03 Aug, 2024
dYdX Community Votes to Approve $5 Million DYDX Allocation to Season 5 Users
The dYdX Foundation, the governing body of the decentralized cryptocurrency exchange dYdX (DYDX), has passed a governance vote with 89.91% in favor of allocating $5 million in DYDX to users who qualify for "the fifth season incentive program via Snapshot." The proposal, which was submitted by the dYdX Foundation, sought to reward users who have actively participated in the platform's ecosystem and contributed to its growth. To be eligible for the allocation, users must have met certain criteria, including trading a minimum volume of $10,000 on dYdX, providing liquidity to the platform's order book, and participating in governance discussions. The $5 million allocation will be distributed to eligible users in proportion to their trading volume and other contributions. The vote to approve the allocation is a sign of the dYdX community's confidence in the platform and its future prospects. The allocation will help to further incentivize participation in the dYdX ecosystem and support the platform's continued growth.
