Amber Group has put forth a proposal titled “Activation of Trading Rewards and 6-Month Incentive Plan” to the dYdX community. This proposal represents a major milestone, potentially marking the end of the Beta phase for the dYdX Chain.
dYdX is a decentralized exchange built on the Ethereum blockchain. It empowers users to trade perpetual contracts with low fees, deep liquidity, and up to 20x buying power.
The platform is designed to offer users a secure, open, and robust financial product. All smart contracts used by dYdX have undergone audits to ensure the safety of user funds.
Amber Group is a prominent digital asset company that offers an extensive range of services, including trading, investing, infrastructure, and financing.
With a global presence and a team consisting of over 1000 technologists, traders, and engineers, the company operates from its headquarters in Singapore, as well as offices in Hong Kong, Japan, Australia, Dubai, EMEA, and North America.
As a liquidity provider, miner, and validator on more than 70 exchanges, applications, and networks, Amber Group generates wealth for clients of all sizes through its comprehensive suite of digital asset services.
The proposal put forth by the Amber Group includes activating trading rewards using the Vester rewards treasury. This involves adding 54,077,073 DYDX to the dYdX Chain Rewards Treasury Vester and setting the trading rewards constant “C” initially at 0.33, with subsequent increases to 0.66 and 0.90.
Amber also supports the launch of a 6-month incentive plan, as suggested by Chaos Labs. This strategic move aims to foster the growth and development of the dYdX ecosystem.
Furthermore, a seed funding amount of $1 million is proposed for the insurance fund, which plays a crucial role in ensuring the security and stability of the dYdX Chain.
To ensure a collective decision, an on-chain vote has been initiated to gauge the community’s consensus on activating trading rewards and launching the 6-month incentive program. The voting period will conclude on November 28, 2023, at 13:21 UTC.
