dYdX’s eponymous governance token is up 20% today and 60% in the past 7 days after the decentralized perpetuals exchange unveiled that DYDX stakers and validators will accrue trading fees from the dYdX Chain.
On Nov. 13, the dYdX Chain launched its beta phase, where users can trade perpetuals of 33 assets. The transition to a full release will take place after a governance vote, which will implement trading rewards being distributed to users who have staked dYdX.
dYdX routinely processes over $1B in daily volume and has generated over $70M in trading fees in 2023, according to Token Terminal.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
#undefined [Source: TheDefiant]