bitcoin

Dydx users got a reward of up to $50k after protocol unlocks Airdrops

Decentralized exchange, Dydx users finally got airdrop up to $50k. The airdrop was locked due to the token‘s airdrop restriction from 3 August. Due to location restrictions, most people were not able to claim this reward.

The governance token of Dydx’s airdrop has been unlocked according to the announcement by the derivative exchange’s Twitter handle. On August 3 this airdrop was provided to almost every trader. Dydx users were unable to access these airdropped coins due to the restriction imposed by a protocol of governance token. The Airdrop was appreciated by the dydx community and the token of DYdx saw a quick boom in the prices.

Dydx users
Announcement by the Dydx exchange
Source: Twitter

Dydx users Eligibile for airdrop:

The rules for getting an airdrop reward were pretty simple like anyone who has deposited funds through the platform and taken a trade before August was eligible for a reward of 310 tokens at least. The people who even done a trade of $1 have benefitted from this Airdrop.

According to data, almost 64000 Dydx users have availed this opportunity. The result of Airdrop was a boom in the price of the governance token of exchange, dydx, which went up to $16. This was one of the biggest airdrops as most of the active users got a reward of around $50k.

The firm has also announced that people from the United States will not be able to receive rewards due to securities laws and repercussions. The firm said:

DYDX is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated, or otherwise established in, or a resident of the United States of America, you are not permitted to receive a distribution of or transact in DYDX. Trading fee discounts are subject to change at the discretion of dYdX Trading, Inc.

Dydx users who received airdrop appreciated the firm for its generosity but people of the US blamed the SEC and criticized it. for more informative articles click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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