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dYdX Chain Moves to Full Production Trading, Jito Announces Airdrop

Nov 28, 2023
Author
Tom Couture
Tom Couture AC
Market Update U.S. stock indices are relatively flat today, with the SPY and QQQ both declining less than 0.10%, as the DXY (-0.38%) continues retreating, falling below $103. In contrast, crypto assets are rallying sharply, with $BTC (+2.37%) trading above $38k and $ETH (+1.78%) rising above $2,060. GBTC (+4.76%) has been one of the most popular trades over the past year as its discount to NAV has shrunk from over 40% to 8.76%. As the bulk of the discount has compressed, capital may be beginning to rotate out of GBTC and into other crypto-related names, as Bitcoin miners MARA and RIOT are outperforming today, rising 8.07% and 5.11%, respectively.Source: CoinGlassThe dYdX community has voted to move its dYdX Chain from its beta stage to full production trading, enabling full functionality and initiating the distribution of trading and launch rewards. Approximately 50,000 DYDX tokens are available per day for trading rewards, and traders can receive up to 90% of a position’s net trading fees as rewards when using the layer-1 chain. Additionally, Chaos Labs is running a 6-month incentive program worth $20 million to distribute as additional rewards for traders. Incentive rewards will be based on users' fees paid and trading performance. Profitable traders will earn more in incen

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