DYdX Exchange Started Distribution of Management Tokens – Bits Media

Decentralized exchange dYdX starts distribution of management tokens. It was planned, that the staking pool will be launched at the same time, however, there was an error in the contract code.

DYdX developers planned to launch a "secure staking" pool, by using whose users, blocked DYDX tokens in it, would receive income in the same tokens. However, an error was discovered in the smart contract, therefore the pool was blocked.

At the same time, the new exchange management system does not allow you to quickly “patch” the error - an update that corrects the problem must go through the approval procedure from token holders. The developers noted:

“The architecture of the staking pool is designed this way, so that deposited funds are blocked for at least one era (28 days). Considering, that the update should be approved within the next week, User funds are not at risk, and the first stakers will be able to withdraw tokens at the right time".

DYDX is already trading on most major exchanges, Including Binance, Huobi and OKEX. The distribution of tokens has significantly increased commissions on the Ethereum network, gas reached 400 Weave. At the time of publication, DYDX tokens are trading at $13.5.

Recall, what dYdX developers plan to distribute 7.5% tokens between site users, who made at least one transaction. but, not all users will be able to claim DYDX tokens. for instance, they will not be available to residents of the United States and some other jurisdictions.