dYdX Community Approves $1.5 Million Reward Distribution for Season 10 Incentives

The dYdX community has voted in favor of distributing $1.5 million in DYDX tokens from the treasury of the decentralized cryptocurrency derivatives exchange. These tokens will be allocated to those who qualified during the tenth season of the rewards program upon its launch.

The proposal received support from 94.17% of the voters, with 5.83% abstaining and no votes against it recorded.

The voter turnout was 49.84%, with participation from 38 out of 60 active validators and 488 unique accounts.

Currently, DYDX is trading at $0.624, having lost 81.8% of its value over the past year, while its all-time high (ATH) stands at $27.857.

To remind, on March 24, dYdX initiated a buyback program for its native DYDX token, committing 25% of its monthly revenue from fees to this effort.