Epoch 17 Highlights

Catch the highlights on YouTube

Trading Metrics

Trading Metrics

• 3.2K unique wallets earned 4.0M DYDX through trading and LP rewards. �
• 61.5K unique wallets have previously earned DYDX rewards from retroactive, trading, and liquidity mining rewards.

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• Emissions have been reduced by 1.7M every epoch with the winding down of both the safety and liquidity module, as well as a 25 % reduction in trading rewards.�
• 65 addresses were eligible for LP rewards in Epoch 17. �

57 addresses (47 existing and 10 new) did more than 0.25% of maker volume in Epoch 17, and are eligible for LP rewards in Epoch 18.

Rewards Metrics

DYDX Supply Metrics

• 15.15% of the total DYDX supply is considered liquid at the end of Epoch 17.�
• If you hold DYDX but have no time to review proposals, gas is too expensive to vote, or you don't have enough information about potential delegates, consider delegating the proposing power and/or voting power to one of the 24 Endorsed Delegates.

On-Chain DIP

• The vote to launch the dYdX Operations Trust with $360K in DYDX from the community treasury concluded with 82.2M $DYDX (94.26%) across 95 addresses voting in support of the launch, and the proposal has been implemented.

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• Responsibilities of the operations trust include:
• Open a fiat bank account for the Ops Trust�
• Hire and manage external legal staff for ongoing guidance�
• Payments and Financial Reporting�
• Create communication channels for the Ops Trust, which can serve �as the standard dYdX DAO’s communication channel going forward�
• Build and share a DAO playbook for launching new dYdX subDAOs.

Launch the dYdX Operations Trust

On-Chain DIP

• The vote to wind down the safety module concluded with 29.0M $DYDX (98.98%) across 152 addresses voting in support of winding down the pool, and the proposal has been implemented.

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• Effective Changes:
• Users can no longer stake new $DYDX to the Safety Module,
• Rewards for staking DYDX is now 0, and
• The blackout period has been reduced to 3 days.�
• Safety pool currently still has 12M DYDX staked which are not earning rewards. 17M DYDX has been withdrawn in Epoch 17.�
• To withdraw your stkDYDX in Epoch 19, you have until 14th January (3 days before the blackout period) to request to withdraw your stkDYDX. You can request to withdraw your stkDYDX directly from the http://dydx.community/ dashboard.

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Winding down the Safety Module

Off-Chain DIP

• The off-chain DIP to re-allocate the stkDYDX weight in LP Rewards Formula to the ‘MakerVolume’ component has been created, and is effective as of Epoch 18.�
• This is a follow up to the snapshot, where 16.2M DYDX (99.97%) across 883 addresses supported the re-allocation of the weightage.

Re-allocating stkDYDX weight to MakerVolume in LP Rewards Formula

Ecosystem Updates

The dYdX Grants Trust completed Round 17 of funding, which had 2 grants approved for a total funding amount of $56,000. Read more in their blog post.

Conclusion

Epoch 18 started on December 20 2022 at 15:00 UTC, and ends on January 17, 2022 at 15:00 UTC.

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Epoch 17 ended on December 20 2022 at 15:00 UTC. Epoch 17 rewards will be claimable here on December 28, at 23:08 UTC (7 days after the end of the epoch plus an additional day and 8 hour delay). �

• Once tokens have been claimed, they can be transferred or delegated to dYdX governance.