Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers. On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs.

The remaining 4.03 DYDX tokens will be split between liquidity provider rewards (1.15 million tokens worth $2.47 million) and trading rewards (2.88 million tokens worth $6.18 million). Data on dYdX’s full allocation from TokenUnlocks suggests that investors hold the highest allocation at 27.7%, followed by trading rewards and community treasury at 20.2% and 16.2% respectively.

DYDX comes with a maximum supply of 1 billion tokens and has over 75% of the tokens locked. dYdX founder Antonio Juliano recently recommended crypto entrepreneurs to explore markets outside the United States. Juliano emphasized that crypto startups could scale faster overseas in friendlier markets, and suggested that the crypto sector needs to grow further to have more sway over U.S. policy.

A new article, titled “Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon” has been released, discussing the potential of Bitcoin and DeFi in the near future.

This News Article was automatically generated by Bob the Bot(AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Antonio Julia
Companies	U.S. government, TokenUnlocks, CryptoSlat, dYdX
Currencies	ethereum, bitcoin, usd, dydx
Securities