The Roles of the DYDX token

Modified on Sat, 18 Feb 2023 at 07:47 PM

1. It is a Governance Token.

DYDX empowers holders to participate in the administration of the dYdX platform through policy offerings, or vote on the policies proposed by others.


2. As a reward from staking

People who deposit USDC Stablecoin on the platform (Staking) to support the platform's liquidity. DYDX tokens will be rewarded based on the amount of USDC deposited.


3. As a reward from trading

In addition to USDC deposits, dYdX exchange users are rewarded for their contributions to the platform as DYDX tokens.


4. Use as a discount on fees

dYdX also has a policy of reducing exchange fees on its platform for holders of DYDX tokens, which can range from 3% to a maximum of 50%.


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