DYDX, the native token of the dYdX Chain, has evolved from a governance-only coin to a dynamic, multifaceted asset within six months of its launch.
According to a blog post by the dYdX Foundation, DYDX has become the powerhouse of the layer-1 blockchain, enabling decentralized governance and allowing users to stake their tokens for rewards.
A Timeline of DYDX’s Launch
DYDX was launched in October 2023 alongside the dYdX Chain. Before that, the dYdX Foundation had launched DYDX (now ethDYDX) in August 2021. ethDYDX serves as a governance token for the Ethereum-based layer-2 protocol dYdX v3.
In September 2023, the dYdX community voted to adopt DYDX as the native token of the dYdX Chain. To this effect, a wethDYDX smart contract was deployed to serve as a bridge for token holders to convert their ethDYDX to DYDX.
At the time of writing, more than 75% of all ethDYDX have been converted to DYDX and migrated to the dYdX Chain. With 25% left, the circulating supply of ethDYDX now sits at r
We współpracy z: https://cryptopotato.com/heres-how-much-dydx-has-evolved-since-its-launch/
