DYDX is up 𝟕𝟓% in the last week
Is the rally over or are there more gains to come ❓
🧵👇
Is the rally over or are there more gains to come ❓
🧵👇
🔷dYdX is a decentralized exchange built on #Ethereum network to deliver perpetuals, margin and spot trading.
🔷It provides lending and borrowing as well to its users.
🔷It was created by Antonio Juliano in 2017 who was a software engineer at #Coinbase and #Uber .
🔷It provides lending and borrowing as well to its users.
🔷It was created by Antonio Juliano in 2017 who was a software engineer at #Coinbase and #Uber .
🔷It raised $2million at an ICO price of $1 from a16z.
🔷They raised more $85M from a16z, Polychain Capital, and other VCs.
🔷It launched its token #DYDX in Aug 2021.
🔷They raised more $85M from a16z, Polychain Capital, and other VCs.
🔷It launched its token #DYDX in Aug 2021.
USE CASES OF DYDX
🔷It is used to pay trading fees on #dYdX exchange.
🔷It is used for staking to earn yields ,upto 12%.
🔷It is used to make or vote on governance proposals.
🔷Users can get discount on their trading fees by holding DYDX.
🔷It is used to pay trading fees on #dYdX exchange.
🔷It is used for staking to earn yields ,upto 12%.
🔷It is used to make or vote on governance proposals.
🔷Users can get discount on their trading fees by holding DYDX.
TOKENOMICS 
ALLOCATION
TOP WALLETS
🔷Top 10 wallets holds 63.62% of the total supply.
🔷4 out of Top 10 wallets are of Treasury and #Binance.
🔷This shows that the token distribution is too concentrated.
🔷Top 10 wallets holds 63.62% of the total supply.
🔷4 out of Top 10 wallets are of Treasury and #Binance.
🔷This shows that the token distribution is too concentrated.
PROS OF dYdX
🔷Its user interface is quite simple.
🔷Its trading volume is always in Top 3 DEX because of cheaper transactions.
🔷In the next 7-8 months there will be less sell pressure because of no massive token unlock.
🔷Its user interface is quite simple.
🔷Its trading volume is always in Top 3 DEX because of cheaper transactions.
🔷In the next 7-8 months there will be less sell pressure because of no massive token unlock.
CONS OF dYdX
🔷It is not sufficiently decentralized as it has blocked transactions in the past over regulatory concerns.
🔷Its token distribution is too concentrated and vesting is very aggressive.
🔷Its revenue flows to dYdX trading rather than token holders.
🔷It is not sufficiently decentralized as it has blocked transactions in the past over regulatory concerns.
🔷Its token distribution is too concentrated and vesting is very aggressive.
🔷Its revenue flows to dYdX trading rather than token holders.
Recent and Upcoming Activities:
🔷They recently postponed their token unlock to December.
🔷In DEC 2023, 150M DYDX which is about 15% of the total supply will be released.
🔷Majority of the tokens are in hands of investors and Treasury which will be dumped from time to time.
🔷They recently postponed their token unlock to December.
🔷In DEC 2023, 150M DYDX which is about 15% of the total supply will be released.
🔷Majority of the tokens are in hands of investors and Treasury which will be dumped from time to time.
Is it a good investment?
🔷DYDX can be a good HOLD in the short term but in the long term all will depend on upcoming upgrades.
🔷 Not financial advice, DYOR.
🔷DYDX can be a good HOLD in the short term but in the long term all will depend on upcoming upgrades.
🔷 Not financial advice, DYOR.
If you like this thread, hit like and follow @cillionaire_com 😍
Retweet the first tweet to help this thread reach more people
Retweet the first tweet to help this thread reach more people
• • •
Missing some Tweet in this thread? You can try to
force a refresh
