dYdX ETHDYDXPrice $ 0.712

DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol ("the protocol"). By enabling shared control of the protocol, DYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced Protocol.

DYDX enables a robust ecosystem around governance, rewards, and staking — each designed to drive future growth and decentralization of dYdX, resulting in a better experience for users. 

Staking pools are designed to promote liquidity and safety on the Protocol. Rewards programs for trading, liquidity providing, and past usage of dYdX will help drive growth and adoption of dYdX.

Alongside the launch of DYDX, we also released:

• A governance product at dydx.community
• Liquidity Staking Pool for USDC
• Safety Staking Pool for DYDX
• Trading Rewards
• Retroactive Mining Rewards for past users
• Liquidity Provider Rewards

dYdX on-chain governance allows for:

• Voting on proposals to be executed by any authorized executor contract
• Snapshotting token holdings at the start of a proposal
• Separate delegation of voting and proposing powers
• Setting governance thresholds including proposals, quorums, and vote differential powers
• Changing how votes are counted (by changing the “Governance Strategy” smart contract address on the Governor contract)