dYdX Foundation has initiated a proposal to introduce BNB into the dYdX Chain, which will end voting on February 12th.

Decentralized derivatives exchange dYdX has released its 2024 roadmap. This year, the dYdX team will focus on three main areas: permissionless markets, core trading improvements, and user experience/onboarding upgrades.

According to an official announcement, the dYdX Chain iOS application has been launched. The iOS application supports mainstream cryptocurrency wallets, including Metamask, Coinbase, and Trust Wallet.

The dYdX Foundation announced that it has passed the vote to upgrade the dYdX Chain software to V3.0, with a voting rate of 88.5% and a approval rate of 98.9%.The upgrade is scheduled to be executed around 1:46 am on January 30, Beijing time, at block 7,147,832. The dYdX Foundation reminds validators to prepare accordingly for this upgrade.It is reported that the proposal aims to introduce multiple improvements, such as ICA account support and the cancellation of non-linear margin requirements.

The dYdX Foundation announced on the X platform that the vote to upgrade the dYdX Chain on-chain protocol software to v3.0 has been approved, with a voting rate of 88.5%, of which the approval rate is 98.9%.

The dYdX Foundation announced that over 3.5 million USDC in staking rewards has been distributed to over 10,200 stakers on the dYdXChain. According to Mintscan statistics, staking on the dYdXChain has received an average annual return of 15% and accumulated trading volume of over 22 billion US dollars. Currently, 81.1 million DYDX tokens have been staked.

dYdX Foundation announced on X platform that Epoch 31 trading rewards and LP rewards will be available for collection on January 25th at 4:58 UTC (12:58 Beijing time). Users can bridge to dYdX Chain or transfer and delegate reward tokens. On Tuesday of this week, dYdX Foundation announced that Epoch 31 has ended and, according to DIP 29 proposal, the current trading rewards and LP rewards on V3 have been set to zero.

I hope everyone has had a great start to the new year and what a wild two weeks it has been so far! One of our portfolio companies, dYdX, just had a major upgrade so figured it would be helpful to recap the use case and what’s going on with the protocol!

The dYdX Foundation announced on social media that Epoch 31 has ended. As per DIP 29 proposal, trading and LP rewards on V3 are now reduced to zero. In addition, traders on the dYdX Chain can receive up to 90% reimbursement as trading rewards and an incentive program reward for a period of 6 months.

According to CoinMarketCap data, dYdX V4 has a 24-hour trading volume of $760 million, surpassing Uniswap V3 ($554 million).