Key Points: The cumulative volume and cumulative fees for the dYdX protocol were $137.8M and $466.3B, respectively.
Currently, dYdX is hosted on StarkEx’s Ethereum Layer 2 network StarkEx. However, it plans to migrate to its own blockchain within Cosmos soon.
A dYdX Foundation report shows that the largest crypto derivatives trading platform recorded $466.3 billion in cumulative transactions volume and generated $137.8 millions in fee revenue in 2022. The firm grew from three full-time workers and several contractors to a total of twelve full-time employees and seven contractors in 2022. Charles d’Haussy was the CEO. Charles joins the dYdX Foundation as CEO from ConsenSys (the firm behind Metamask and Infura, which specializes in decentralized software protocol protocols). Charles is excited to harness community-driven growth to help develop the dYdX protocol and community. In 2022, the total value of tokens on the platform fell to $400 million, from 1.1 billion in October 2021. This shows that the platform’s users were active and continued to use it. However, speculators were concerned by the inflation of native dYdX tokens despite strong fundamentals. This was due to the team’s plan to distribute 150 million tokens valued at more than $280million to investors and staff in February 2023. With more tokens being unlocked in the future, this would have more than doubled current supply. Last week, the dYdX team decided to delay token unlocks until December. Last week, the dYdX team decided to postpone token unlocks until December. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuThanaCoincu NewsTags: ConsenSysdYdXdYdX DAOdYdX foundationdYdXsEthereumExchange dydx