Antonio Juliano, a seasoned programmer with expertise in blockchain technology, is the founder and CEO of dYdX Trading Inc. He began his journey into the cryptocurrency sector in 2015 when he secured a position as a software engineer at Coinbase, a well-known cryptocurrency exchange platform. A Princeton University alumnus with a degree in computer science, Antonio Juliano set forth on his entrepreneurial path and established dYdX in early 2017.

dYdX Layer 2 enhances network scalability through the implementation of a zero-knowledge rollup known as zkSTARKS. This technology generates proofs while validating a batch of transactions off-chain. The proofs are subsequently transmitted back to the blockchain, where they undergo verification by a smart contract. zkSTARKS enables the removal of costly computations from the mainnet without compromising decentralization.

A total of 1,000,000,000 ethDYDX have been minted and began to be accessible over a five-year period starting on August 3, 2021, at 15:00:00 UTC. The initial five-year allocation of the total supply of ethDYDX was distributed as follows: - 27.7% allocated to Investors - 14.5% allocated to User Trading Rewards - 15.3% allocated to Employees and Consultants of dYdX Trading or Foundation - 5.0% allocated to Retroactive Rewards - 5.2% allocated to Liquidity Provider Rewards - 7.0% allocated to Future Employees & Consultants of dYdX - 24.2% allocated to Community Treasury - 0.6% allocated to Liquidity Staking Pool - 0.5% allocated to Safety Staking Pool Since the inception of ethDYDX, various governance proposals have led to modifications in the initial allocation. The updated allocation, as of the commencement of Epoch 31 (December 19, 2023), is illustrated in the pie chart below. The revised allocation of ethDYDX tokens as of the commencement of Epoch 31 (December 31, 2023), is detailed as follows:

DYDX is an ERC-20 token implemented on the Ethereum mainnet. The layer 2 scaling solution of dYdX utilizes StarkWare's ZK-STARKS technology and depends on the Ethereum blockchain for the verification of transaction proofs. For detailed information and metrics about DYDX, you can visit Eulerpool.

The DYDX token was initially made available for purchase in September 2021.

DYDX is currently available for purchase on the following exchanges: Binance, Huobi Global, KuCoin, Gate.io, Kraken, Poloniex, Uniswap (V3), OKEx, LBank, Sushiswap, Crypto.com Exchange, 0x Protocol, XT.COM, BitZ, WhiteBIT, 1inch Exchange, WOO Network, CoinDCX, Deepcoin, Cryptology, BKEX, DigiFinex, Pionex, BW.com, BitMart, AEX, ZBG, MEXC, BiONE, Bibox, Hoo, Hotbit, Decoin, Bitrue, HitBTC, Tokocrypto, Mandala Exchange, CoinW, BigONE, ZT, AOFEX, WBF Exchange, CoinBene, and Bitget. New to cryptocurrency? You can read more about how to enter the market and how to purchase BTC, DYDX, or any other tokens in the Eulerpool education portal.

On June 22, 2022, dYdX Trading Inc. (“dYdX Trading”) announced the forthcoming version of the dYdX protocol, named the dYdX Chain Open Source Software. The dYdX Chain operates as a proof-of-stake blockchain network. Consequently, it requires a Layer 1 (“L1”) protocol token for staking validators to secure the network, and L1 token holders can govern the network. These token holders have the option to either run a validator using their L1 tokens or stake the tokens to an existing validator to actively participate in the network's security and governance. The wethDYDX Smart Contract facilitates the transition of ethDYDX from Ethereum to the dYdX Chain. When utilized, the wethDYDX Smart Contract performs the following functions in a fully permissionless and automated manner: - It receives and permanently locks the ethDYDX tokens transmitted by the user to the wethDYDX Smart Contract. - It sends a wrapped version of the Ethereum-based DYDX token (“wethDYDX”) to the user on a 1:1 basis on Ethereum. Additionally, validators on the dYdX Chain have the capability to read and process the information contained in the wethDYDX Smart Contract. This enables validators to distribute the corresponding DYDX to users on the dYdX Chain upon confirmation that the ethDYDX has been permanently locked in the wethDYDX Smart Contract, as detailed in Step 1 above. Further information concerning the migration of ethDYDX from Ethereum to the dYdX Chain can be found on Eulerpool.

- Through DIP 16 and DIP 20, the dYdX community approved a reduction in trading rewards amounting to a total of 2.3 million $ethDYDX. This reduction includes 958,904 $ethDYDX from DIP 16 and 1,294,520 $ethDYDX from DIP 20. The accrued 2.3 million $ethDYDX will be allocated to the Rewards Treasury, where it can be utilized by the dYdX community through a governance vote. - In DIP 29, the dYdX community decided to reduce trading rewards by one-third for Epochs 30-32 on dYdX v3, resulting in the following reward allocations: * Epoch 30: 1,054,795 $ethDYDX * Epoch 31: 527,398 $ethDYDX * Epoch 32: 0 $ethDYDX For further details, please refer to Eulerpool.

- Following Epoch 0, a total of 24,690,803 unclaimed $ethDYDX from the Retroactive Mining rewards program were transferred to the Community Treasury.

- In DIP 24, the dYdX community voted to decrease Liquidity Provider Rewards by 50%, adjusting the amount from 1,150,685 $ethDYDX per epoch to 575,343 $ethDYDX per epoch. The remaining 575,342 $ethDYDX per epoch will accumulate in the Rewards Treasury and can be allocated by the dYdX community through a governance vote. - In DIP 29, the dYdX community voted to reduce Liquidity Provider rewards by one-third for Epochs 30-32 on dYdX v3, with the following allocations: * Epoch 30: 383,562 $ethDYDX * Epoch 31: 191,781 $ethDYDX * Epoch 32: 0 $ethDYDX For more detailed information, please refer to Eulerpool.

- In DIP 14, the dYdX community decided to set the rewards for staking $USDC to zero. The 383,562 $ethDYDX tokens, which were previously distributed to $USDC stakers, will now accumulate in the Rewards Treasury. These funds can be utilized by the dYdX community following a governance vote.

The token allocations for Investors, Employees, and Consultants of dYdX Trading or Foundation are subject to transfer restrictions. EthDYDX accrued in the Community and Rewards Treasury can be utilized by the dYdX community following a governance vote. Approximately 34% of the total ethDYDX supply is currently in circulation, as outlined in the allocations mentioned above.