dYdX trading and launch rewards live after governance vote

11:32 am
November 29, 2023

**dYdX Chain Launches Trading and Rewards After Governance Vote**

The dYdX Chain launched its trading and rewards following a successful governance vote on November 28, allowing users to earn rewards for using the platform. With $20 million earmarked for launch rewards, traders can now benefit from trading rewards distribution as well as a launch incentives program.

The dYdX Chain’s mainnet beta went live on November 14, offering trading across 33 markets with leverage of up to 20x, recording over $1.86 million in trades across 14k transactions over two weeks. The platform progressed from the beta stage following a community vote.

According to a blog post by the dYdX Chain team, trading rewards are now fully enabled, with rewards paid in the native DYDX token. Approximately 50,000 DYDX tokens are available to traders as rewards each day and will be distributed immediately, unlike during the beta stage.

Additionally, a $20 million launch incentives program was approved, with funds taken from the dYdX Chain Community Treasury and managed by Chaos Labs. The program will be distributed over the next six months, with 80% allocated for trading activity and 20% for market maker activity.

Full trading on the dYdX Chain initially supports Ethereum (ETH), Bitcoin (BTC), Solana (SOL), and Chainlink (LINK) markets, with plans to continuously add new markets over the coming weeks through dydx.trade, operated by the dYdX Ops subDAO, a community-run dYdX DAO.


**Q: What is dYdX Chain?**
A: dYdX Chain is a decentralized derivatives trading protocol.

**Q: How can users benefit from dYdX Chain?**
A: Users can earn rewards for using the platform, including trading rewards and participation in a launch incentives program.

**Q: What tokens are rewards paid in?**
A: Rewards are paid in the native DYDX token.

**Q: What markets are supported by the dYdX Chain initially?**
A: Ethereum (ETH), Bitcoin (BTC), Solana (SOL), and Chainlink (LINK) markets are initially supported, with plans to add more markets over the coming weeks.


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