Cointime

Download App
iOS & Android

DYdX Pushes Back $156 Million of Token Unlocks for Investors to December From February

Decentralized exchange dYdX delayed its token unlocks for investors to Dec. 1 from Feb. 3, according to a note sent out to investors obtained by The Block.

The exchange was set to release 150 million tokens ($282 million) to investors, community members and the project’s treasury next month, a move that would have doubled the current supply — with more tokens to be unlocked over the following months. Postponing the unlocks 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.

Under the new schedule, the 83 million tokens — 30% of the 277 million tokens destined for investors in total — will be unlocked On Dec. 1, according to the note. After that happens, 40% of the total tokens will unlock monthly over the following six months, then 20% over the following year and 10% the year after that.

Comments

All Comments

Recommended for you

  • BTC: A relic of the past.

    Future systems that thrive are resilient, adaptive, and collective. Bitcoin, for all its brilliance, lacks these qualities. It is not the future—it is the gravestone of a world that once worshiped scarcity.
  • Brevan Howard, Nomura’s Laser back Plume tokenization blockchain

    Brevan Howard Digital and Nomura’s Laser Digital were part of the $20 million Series A funding round for Plume, the layer 1 permissionless blockchain focused on tokenizing real worlds assets (RWA).
  • Trust Wallet fixes disappearing balance glitch

    Community members went on social media to report a Trust Wallet glitch that caused their crypto balances to disappear.
  • Microstrategy names former Binance.US CEO Brian Brooks, two others to board of directors

    Microstrategy added 3 members to its board of directors, bringing the total membership from 6 to 9.
  • Will Dogecoin Reach $1? Crypto Volatility Returns as Bitcoin and Ethereum Slide

    The meme coin faced $68 million in liquidations in 24 hours, with Bitcoin and Ethereum also experiencing a decline. Analysts are watching the $1 price level closely, but recovery depends on broader market conditions.
  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts
  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX
  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.
  • Trump team files complaint over Harris inheriting $96 million in Biden campaign funds

    According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending.
  • Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry

    Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry.