Important Update Has Been Released In This Altcoin: It Reflected Positively On Its Price!

dYdX (DYDX) altcoin The community voted to approve the proposal aimed at reducing trading rewards.

After the development, a positive reaction was observed in the price of the altcoin.

dYdX (DYDX) Altcoin Trading Rewards Are Substantially Reduced With The Update

The decentralized exchange dYdX had offered to cut trading rewards by about 45% as part of the V4 Vanguard Post. The move is a response to the current market downturn and the belief that trading rewards are excessive and contribute significantly to annual token inflation.

This change will cause trading reward emissions to decrease from 2,876,712 DYDX to 1,582,192 DYDX per epoch, and an excess of 1,294,520 DYDX will be accumulated in the Reward Treasury. This amount can be used or directed by the dYdX community through management voting.

The voting in question cryptocurrency It was officially implemented with more than 25 million positive votes from its investors against five million negative votes.

According to the available data, the dXdY price has climbed from the daily low of $1.95 and is trading at $2.41 at the time of this writing.

The token has had a bullish year so far, surging 21% in a single day after it was decided to delay a planned token unlock in January. The price of the coin has increased by 121% since the beginning of the year.

However, the unlock delay process at the beginning of the year drew the reaction of investors whose tokens were locked.

*Not investment advice.