The community of decentralized exchange dYdX has agreed to stake 20 million dYdX Chain tokens with Cosmos staking provider Stride as a security measure.
Trading Surge Necessitates New Staking Move
dYdX founder Antonio Juliano confirmed the news of the decision on X. Notably, the volume of tokens approved for the staking exercise is valued at $60 million based on the current market value of the tokens pegged at $3.06.
dYdX hit this milestone right after it announced plans to restructure operations by setting up a legal entity in the Cayman Islands.
Apart from encouraging stake diversity in its community, this dYdX’s decision comes as the DEX begins to experience a sudden surge in activity and it is the result of a proposal passed on April 6. Precisely, the proposal to stake the dYdX tokens passed with 91.7% of votes in its favor out of 81% participation.
“The rate of DYDX being staked to validators has plateaued and deposits to the exchange are growing at a tremendous pace. Over $
We współpracy z: https://coingape.com/dydx-community-ratifies-60m-treasury-stake-for-security-boost/
