Introducing DYDX - The L1 Token of the dYdX Chain
The dYdX Foundation highlights that, on October 26 at 17:00 UTC, the first block of the dYdX Chain mainnet was created (“Genesis”) by dYdX Chain Validators.
- The dYdX Foundation highlights that, on October 26 at 17:00 UTC, the first block of the dYdX Chain mainnet was created (“Genesis”) by dYdX Chain Validators.
- The creation of the first block of the dYdX Chain and the adoption of DYDX as the Layer 1 token of the network lead to new utility for the DYDX token on the dYdX Chain.
- Below you’ll find some details and highlights about the role of DYDX within the dYdX Chain, how the token has evolved and how protocol fees are distributed to Validators and Stakers on the dYdX Chain.
- Recently, the dYdX community voted to adopt DYDX as the L1 token of the dYdX Chain, adopt a one-way bridge from Ethereum to the dYdX Chain and to give wrapped Ethereum DYDX (“wethDYDX”) the same governance utility as ethDYDX in dYdX v3.