According to a memo to investors, decentralized cryptocurrency stock market dYdX, for investors altcoin Postponed the opening of its locks from February 3 to December 1.
A Significant Part Of Token Locks To Be Opened In dYdX Altcoin Delayed To The End Of The Year
The exchange would distribute 150 million tokens ($282 million) to investors, community members, and the project’s treasury next month; This was a move that would double the current supply and more tokens would be unlocked in the months to follow.
Postponing token unlocking for investors will reduce this amount by 83 million tokens ($156 million), shifting a significant part of the impact to the end of the year.
According to the new program, 83 million tokens will be unlocked on December 1, accounting for 30% of the 277 million tokens for investors in total. Once this happens, 40% of the total tokens will be unlocked monthly for the next six months, then 20% the next year and 10% the year after that.
DYdX is currently based on StarkEx, a zero-knowledge proof-supported layer running on top of Ethereum, but is in the process of abandoning that platform to migrate to its own application-specific blockchain in the Cosmos ecosystem.
The price of Dydx has been on the rise over the past few days, rising from around $1.30 on January 19 to $1.99 today. The token is currently at its highest point since early December.
However, during the period when dYdX appreciated, the general cryptocurrency market also increased, but not at similar rates.
*Not investment advice.
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