DYdX Airdrop Review: Low Fees, No gas Costs

About DYdX Airdrop

DYdX Airdrop is building an open platform for advanced cryptofinancial products, powered by the Ethereum blockchain. They’re building a powerful and professional exchange for trading cryptoassets where users can truly own their trades and, eventually, the exchange itself.

Dydx is airdropping their new governance token “DYDX” to various historical users of the platform. A total of 75,000,000 DYDX has been allocated to eligible users. The snapshot was taken on July 26th, 2021 at 00:00:00 UTC of users who have traded on dYdX protocols (perpetual, margin, spot) on Layer 2 or Layer 1 or deposited funds into dYdX’s borrow/supply pools. Eligible users need to achieve certain trading milestones to unlock the rewards.

DYdX Airdrop is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol (“the protocol”). By enabling shared control of the protocol, DYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced Protocol.

DYDX enables a robust ecosystem around governance, rewards, and staking — each designed to drive future growth and decentralization of dYdX, resulting in a better experience for users. Staking pools are designed to promote liquidity and safety on the Protocol. Rewards programs for trading, liquidity providing, and past usage of dYdX will help drive growth and adoption of dYdX.

Basic	Details
Token Name	DYdX Airdrop
Platform	ETH
Total Value	75,000,000 DYDX
Airdrop Start	2021-07-26
KYC	KYC Is Not requirement
Whitepaper	Click Here To View
Max. Participants	Unlimited
Collect Airdrop	Click Here To Collect Free Airdrop

How To Join DYdX Airdrop

First Step

Visit the dydx rewards page.

Second step

Connect your ETH wallet.

Third Step

If you’re eligible, then you will see your rewards under “Allocation”.

Fourth Step

Users who have traded on dYdX protocols (perpetual, margin, spot) on Layer 2 or Layer 1 or deposited funds into dYdX’s borrow/supply pools by the snapshot time are eligible for the airdrop.

Fifth Step

The snapshot was taken on July 26, 2021, at 00:00:00 UTC.

Six Step

Eligible users need to achieve certain trading milestones as mentioned in this post on Layer 2 Perpetuals within the first 28 days of Epoch 0 to unlock the rewards. Epoch 0 went live on August 3rd, 2021 at 15:00:00 UTC and will end on August 31st, 2021 at 15:00:00 UTC.

Seven Step

Unlocked rewards can be claimed from September 8th, 2021 at 15:00:00 UTC.

Eight Step

For more information regarding the airdrop and trading milestones, see this post.

The wait is over, Layer 2 is here

Low fees, no gas costs

DYdX Airdrop Once you deposit to Layer 2, you will no longer pay fees to miners for each transaction.

Lightning quick

Trades are executed instantly and confirmed on the blockchain within hours.

Fast withdrawals

Unlike other platforms, there is no wait required to withdraw your funds from Layer 2.

Mobile friendly

We’ve redesigned the exchange from the ground up, so you can use it from any device.

Secure & private

StarkWare’s Layer 2 solution provides increased security & privacy via zero-knowledge rollups.

Cross-margining

DYdX Airdrop Access leverage across positions in multiple markets from a single account.

Interface

A home for governance, rewards, and staking at dydx.community. The interface for governance, rewards, and staking is live at dydx.community.

Governance

Active and past governance proposals can be viewed, and active governance proposals can be voted on. Holders of DYDX and stk DYDX are granted two types of governance powers: proposing power and voting power. Via the dashboard, users may view their proposing and voting powers, and delegate them to other addresses.

Staking

Users can stake USDC and DYDX to earn staking rewards.

Trading Rewards

Users can view their rewards earned through trading activity on the layer 2 exchange. Trading rewards are distributed every 28 days according to an epoch schedule.

Portfolio & Claiming DYDX

Users can see an aggregated view of their DYDX holdings, claimable DYDX, staked DYDX, and withdrawable DYDX. Users can see the current circulating supply and daily distribution of DYDX tokens. Users can also claim all available DYDX rewards.