DeFi platform dYdX launched its own governance token

DeFi platform dYdX launched its own governance token

According to a statement on the dYdX website, the decentralized trading platform is launching its own governance token.

7.5% of the total supply will be distributed among protocol users who meet certain requirements over a period of five years. 


5% of the proposal will go to the developer fund. With this money, dYdX will allocate grants and support community initiatives.


The token will be used to vote for various changes. Voting will take place on the recently launched platform.


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