ChainCatcher message, Binance will stop supporting the deposit and withdrawal of DYDX tokens on the Ethereum network on February 12, 2025, at 10:00 AM (UTC+8). After February 12, 2025, at 10:00 AM (UTC+8), DYDX tokens deposited via the Ethereum network will not be credited to users' accounts, which may result in asset loss.

ChainCatcher news, according to official sources, the dYdX community has voted to distribute $5 million worth of DYDX tokens to traders in the fifth season incentive program.

ChainCatcher message, dYdX has released the latest report on the DYDX token, with the following key points:Since the launch of dYdX Chain, the utility of the DYDX token has expanded into the areas of security, staking, and governance, including:Security: Approximately 148 million DYDX (14.8% of the total supply) have been staked to 60 active validators to ensure the security of the dYdX Chain;Staking: To date, the protocol has distributed over 2000 USDC to more than 18,991 dYdX Chain stakers;Governance: So far, dYdX community members have initiated 54 governance proposals;Staking rewards in the form of USDC have unlocked many tangible use cases;75.2% of ethDYDX has been migrated to dYdX Chain;On April 6, 2024, the dYdX community voted to transfer 20 million DYDX from the dYdX Chain community treasury and stake these tokens with the liquid staking provider Stride.

ChainCatcher news, a new proposal has been initiated on the dYdX community forum, requesting $12 million worth of DYDX tokens from the community treasury for the dYdX Grants program to fund the development plan of the dYdX ecosystem.It is reported that this funding is expected to provide an additional 24 months of support for the program, which also includes an operational budget and volatility buffer. The main goal of the dYdX Ecosystem Growth Fund (DEP) program is to act as a partner and financing department for dYdX, helping to support infrastructure, chain services, protocol development, and growth.

ChainCatcher news, according to the Snapshot page, the dYdX community has voted to approve the proposal "Adoption of V4 and Migration of DYDX Token to dYdX Chain."This proposal was initiated by the crypto market maker Wintermute to the dYdX community. After the proposal is approved, the dYdX community will adopt the dYdX v4 open-source software as the next version of the dYdX protocol; and use DYDX as the L1 token of the dYdX chain.

ChainCatcher message, Wintermute has initiated a proposal in the dYdX community for "V4 adoption and migrating DYDX tokens to the dYdX chain," with voting starting at 07:49 Beijing time on August 29 and ending at 07:49 on September 2.Wintermute suggests that the dYdX community adopt the dYdX v4 open-source software as the next version of the dYdX protocol; the dYdX community will adopt DYDX as the L1 token for the dYdX chain; the dYdX community will adopt an Ethereum smart contract commissioned by the dYdX Foundation, which, once deployed, will provide a permissionless and autonomous one-way cross-chain bridge for the migration of DYDX tokens from Ethereum to the dYdX chain; the dYdX community suggests that dYdX blockchain validators refer to the Ethereum smart contract commissioned by the dYdX Foundation when distributing DYDX on the dYdX chain; and wethDYDX will have the same governance and utility functions as the Ethereum-based DYDX (ethDYDX) on dYdX v3.Among these, the first four proposals do not require any modifications to the smart contract and can be approved through snapshot voting, while the last suggestion regarding wethDYDX involves an on-chain Long Timelock. If this snapshot vote passes, on-chain voting will take place using Long Timelock from around September 1 to 8.

ChainCatcher message, The Data Nerd monitoring shows that in the past 24 hours, a suspected address starting with 0x011 from Amber Group has significantly increased its token holdings.This includes 3.73 million OP (5.68 million USD), currently holding a total of 8.1 million (approximately 12.4 million USD), with an average price of 1.52 USD; 1.5 million BLUR (327,000 USD), currently holding a total of 26.7 million (approximately 5.7 million USD), with an average price of 0.35 USD; and 300,000 DYDX (579,000 USD), currently holding a total of 4.95 million (approximately 950,000 USD), with an average price of 2.2 USD.

According to ChainCatcher news, data from Token Unlocks shows that the decentralized derivatives protocol dYdX will unlock 150 million DYDX Tokens on February 3, accounting for 15% of the total DYDX Token supply, currently valued at over 200 million USD. (source link)