This article takes you to understand the economic mechanism of dydx

Fun coin 2021-09-15 10:08:49

With DeFi Evolution of , Encrypting derivatives fairs is the next important trend .

Follow Perpetual equally ,dYdX It's also DeFi Derivatives trading platform . The trading volume of the two perpetual contracts is DeFi At the forefront of the field . According to the time of writing 24 Hours of trading volume :dYdX Our trading volume is about 6.23 Billion dollars , The number of transaction orders exceeds 13 ten thousand , The open contract position exceeds 1.9 dollar .Perpetual Our trading volume is about 2.39 Billion dollars , The number of transactions is about 5.1 Ten thousand brush , The agreement capture fee for the day is 23.8 Thousands of dollars .

 One article for you to understand dYdX Economic mechanism

( When writing dYdX In the past 24 Hours of trading , come from dYdX Website )

 One article for you to understand dYdX Economic mechanism

( When writing Perpetual In the past 24 Hours of trading , come from DuneAnalytics Website )

dYdX Recently, the trading volume has increased rapidly , A large part of the reason is related to its token incentive . Blue fox notes in 2019 Started in dYdX, It has not used token incentives before , But with the rapid rise of its competitors ,dYdX Using token incentives is inevitable , Unless it's in a corner .

Besides ,dYdX The project currently has perpetual contracts and leverage transactions , Its perpetual contract is based on StarkWare Build on ,StarkWare yes L2 Solution , Better than... In terms of transaction speed and cost L1, This is also dYdX An important basis for the rapid rise of trading volume .

DYDX Main purpose of

dYdX Token of DYDX Mainly to manage tokens , It can be used to make community decisions on its development . meanwhile , It can be used as a fee discount for user transactions on its platform , The details are as follows: :

 One article for you to understand dYdX Economic mechanism

( Discount relationship between trader's wallet balance and transaction cost ,dYdX Website )

however DYDX The token has no capture fee yet , The specific needs of the follow-up community to determine its direction . Comparatively speaking ,Perpetual The token of the agreement PERP Transaction costs can be captured , Specific reference 《Perpetual Of Curie》.

DYDX Release

DYDX The total amount of tokens is 10 Million pieces , branch 5 Release completed in , There may be an annual 2% Additional issuance of , However, the specific decisions will be made by the community , This is also in the 5 Years later . In the five-year release ratio , Liquidity provision and pledge are jointly obtained 10% A token reward for (2.5% Pledge of 、7.5% Liquidity provides ); Community Treasury 5%; Backtracking rewards 7.5%; Trading rewards 25%. The remaining 50% Allocated to investors, teams, etc .

 One article for you to understand dYdX Economic mechanism

(DYDX Token allocation ,dYdX Website )

At the beginning of the , There is expected to be 55,680,000 One enters circulation , About... Of the total 5.56%, Most of them are backtracking mining users ( Used before dYdX, And complete a certain trading volume within the specified time ). According to the data of its control panel , The total amount of real circulation at the time of writing is 33,201,266 individual , The total circulation accounts for... Of the total 3.33%, With the progress of user collection , Circulation will continue to increase , But just for now , The growth rate is not large .

 One article for you to understand dYdX Economic mechanism

( When writing DYDX The total circulation of ,dYdX Website )

DYDX Is to promote its liquidity and trading network

DYDX The contribution to its ecological development lies in , It promotes the development of its network through transaction incentives and liquidity pledge incentives . This in itself is nothing new , A lot before DeFi Projects have similar incentives .DYDX Token rewards will bring more users to trade , Bring more people and provide mobility . Better liquidity leads to more traders . Some traders get rewards , Some traders are for a better trading experience , Or both .

at present dYdX The monthly incentive is about 500 m DYDX about , Exceed... At current value 6000 Thousands of dollars . Of course , There will be a certain equilibrium . As more traders and liquidity providers enter , The proportion of rewards that can be divided will be reduced , The cost of getting rewards increases . As the yield reaches a certain equilibrium , Liquidity miners or traders may enter other platforms , Such as Perpetual etc. , It will eventually form an equilibrium .

Besides , The behavior of these token rewarded traders or liquidity Pledgors will also have a great impact on the price . These users are selling users , Or holding users , Or transactional users ( Because of the importance of trading discounts, hold ), Proportion and behavior of different types of users , Will have a direct impact on its future ecological development .

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