dYdX Token Movements Related to the Launch of the dYdX Chain
Oct 27, 2023
dYdX Foundation is anticipating large internal movements of locked ethDYDX tokens held by investors and team members in the coming days. Locked Tokens can be bridged from Ethereum to the dYdX Chain.
dYdX Foundation continues to track locked DYDX holders’ wallet addresses to determine whether any transfers have been made in violation of legal agreements. The dYdX Foundation has expressed its willingness to bring legal action against locked token holders who do not comply with the applicable requirements.
Any wethDYDX and/or dYdX-Chain DYDX tokens received in exchange for locked ethDYDX tokens shall continue to be subject to the same transfer restrictions and release schedule available here. As with the current locked ethDYDX tokens, locked wethDYDX tokens and locked dYdX-Chain DYDX tokens may also be bridged to another blockchain, used for voting or delegating purposes and/or staked to a validator, if applicable. Learn more here.
Legitimacy & Disclaimer
dYdX Foundation’s purpose is to support and grow the dYdX protocol ecosystem by enabling communities, developers, and decentralized governance.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. The dYdX community is sovereign to make decisions freely from time to time, in accordance with the governance rules, principles, and mechanisms adopted by the dYdX DAO. Community discussion and interaction on the contents of this post are encouraged. The dYdX Foundation does not directly participate in governance decisions to be made by the dYdX community, including, without limitation, by making and/or voting on governance proposals. The dYdX Foundation may change, update or complement its analysis or opinions expressed in this post in the future and assumes no obligation to publicly disclose any such change or update. This post is solely based on the information available to the dYdX Foundation at the time it is made and should only be read and taken into consideration at the time it is made and on the basis of the circumstances that surround it.
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