This is the 11th edition of dYdX Epoch Review, presenting updates from the dYdX community and ecosystem. To learn more, join us on Discord, Twitter, and the Community Forums.

Epoch 10 Highlights

• Total volume on the dYdX protocol decreased to approximately $28B, with Average Daily Volume decreasing to $1.01B. Ending Open Interest decreased to $639M and Total Value Locked decreased slightly to $849M.
• 7K unique wallets earned 5.8M $DYDX through trading, liquidity provider, and staking rewards. 52K unique wallets have previously earned $DYDX rewards from retroactive, trading, and liquidity mining rewards. 23K unique wallets currently hold $DYDX and 3K unique wallets currently hold $stkDYDX.
• 43 addresses were eligible for LP rewards. Competition in the pool is still strong. Market makers meeting the 0.25% threshold in Epoch 10 are now eligible to earn rewards in Epoch 11. 47 addresses (30 existing and 17 new) did more than =>0.25% of maker volume in Epoch 10, and thus are eligible to participate in the LP rewards program in Epoch 11.
• $273M $USDC from 689 users was staked to the Liquidity Staking Pool. At the start of Epoch 11, $247M $USDC is actively staked and earning rewards. 5 market makers have borrowed $83M $USDC from the staking pool. One market maker has borrowed over $45M $USDC.
• 36M $DYDX from 3,047 users was staked to the Safety Module.
• 11.29% of the total $DYDX supply (excluding unearned Retroactive Rewards transferred to the Treasury and the $DYDX vested in the Community Treasury) is considered liquid at the end of Epoch 10.
• If you hold $DYDX and/or $stkDYDX but have no time to review proposals, gas is too expensive to vote, or you don't have enough information about potential delegates, consider delegating the proposing power and/or voting power of your $DYDX and/or $stkDYDX to one of the 11 Endorsed Delegates.
• On June 9, the Snapshot poll to add 5 new assets (ApeCoin (APE), Stepn (GMT), Fantom (FTM), Axie Infinity (AXS) and Optimism (OP)) to the dYdX exchange concluded with almost unanimous support from the dYdX community (11M $DYDX/$stkDYDX (99.9%) from 477 voters (98.1%)).
• The forum discussions and proposals continue to cover various important topics. Most notably, (1) Starkwhale posted a DRC to improve the current trader rewards mechanism by replacing end of epoch rewards with time-staked $USDC pool functioning as a protocol credit line, (2) mxdydx.eth created a DRC to increase the accountability and transparency of the DGP, (3) LeMayMay posted a DRC about providing Hedgie holders with the opportunity to mint and distribute 10 referral links, and (4) Deven Matthews from Blockchain at Berkeley created a thread exploring the possibility of $cDYDX (compound $DYDX) to be staked in the Safety Module to incentivize $DYDX holders and platform users to provide liquidity to Compound, while preserving the Safety Pool protocol safety net.
• dYdX Foundation announced that 15 out of the dYdX Foundation’s 205 Hedgies have found new homes with dYdX community members! Read more about it here.
• On April 16, dYdX Foundation announced the Ambassador Program. Season 1 started on June 1.  Currently, 17 Ambassadors have onboarded and are actively contributing to one of the 6 Burrows: analytics, governance, media, risk analysis, student, and user onboarding.
• The DGP has released 11 rounds of grant approvals (62 grants) with over $2M in pledged funding. On May 12, the DGP announced that approvals are currently paused to preserve the remaining capital for existing commitments. The DGP is currently working on a proposal to continue operations.
• On May 10, dYdX Trading Inc. announced the public release of the dYdX iOS app. Eligible traders can trade long or short perpetual positions with up to 20x leverage, cross margining, zero gas fees, and 24x7x365 access to markets. A huge thank you to all of the iOS beta testers for their time and efforts!
• On May 27th, dYdX Trading Inc. announced the self service affiliate program. Affiliates will receive ongoing payments based on the trading fees generated and new traders onboarded will earn a discount of 5% on trading fees.
• On April 19th, the initial dYdX fee holiday came to an end, but to celebrate the release of the iOS app dYdX Trading Inc. announced a second indefinite fee holiday effective on May 10.
• Epoch 10 ended on June 7, 2022 at 15:00 UTC. Epoch 10 rewards will be claimable here on June 14, at 21:15 UTC (7 days after the end of the epoch plus a 6 hour delay). Once tokens have been claimed, they can be transferred, staked to the Safety module, or delegated to dYdX governance.

Performance Indicators

for Epoch 10 (May 10, 2022 15:00 UTC - June 7, 2022 15:00 UTC)

* No addresses were identified as wash trading during Epoch 10.

23K unique addresses currently hold $DYDX and 3K unique addresses currently hold $stkDYDX.

53K unique addresses have previously claimed $DYDX rewards from retroactive, trading, and liquidity mining rewards.

Trading Rewards

3,835,616 $DYDX were earned over the course of Epoch 10 and will be distributed to 6,568 traders. Trading rewards were distributed proportionally based on a formula rewarding both fees paid, $stkDYDX, and average open interest.

Competition in this epoch remained flat compared to the last epoch, as evidenced by a marginal increase in the traders eligible for rewards and the number of active traders. Despite this increase, fees paid decreased significantly by 53% compared to the last epoch (-$8.3M).

A breakdown of the adjusted trading activity and Trading Rewards distribution can be found below:

Source: Foundation Metrics Page

dYdX Trading Inc. did not identify any Ethereum addresses that conducted clear wash trading during Epoch 10. Learn more about Wash Trading here.

In Epoch 9, the community voted in support of updating the trader rewards formula to increase the fee weight parameter from a=0.67 to a=0.8 and decrease the open interest weight parameter from b=0.28 to b=0.15.

As an input to the Trading Rewards calculation, users’ fees paid, $stkDYDX, and average open interest were reset to 0 at the start of Epoch 11.

Learn more about the trading rewards program in our documentation, or our recent blog posts.

Liquidity Provider Rewards

1,150,685 $DYDX were earned over the course of Epoch 10 and will be distributed to 43 market makers based on a formula rewarding a combination of uptime, two-sided depth, bid-ask spreads, $stkDYDX, and the number of markets supported.

In Epoch 10, there were 43 addresses in total eligible for LP rewards. The following chart displays the rewards distribution by market maker over the course of the epoch:

Source: Liquidity Provider Rewards Dashboard

In Epoch 6, the dYdX community voted strongly in favor of reducing the LP rewards volume threshold for market makers from 1% to 0.25%.

The Foundation Metrics Page has maker volume charts to see which addresses did >=0.25% of maker volume in a given epoch:

47 addresses (30 existing and 17 new) did more than =>0.25% of maker volume in Epoch 10, and thus are eligible to participate in the LP rewards program in Epoch 11.

As an input to the Liquidity Provider Rewards calculation, market maker’s uptime, two-sided depth, bid-ask spreads, $stkDYDX, and the number of markets supported are reset to 0 at the start of Epoch 10. New market makers providing >=0.25% of maker volume in Epoch 10 will be eligible to join the pool in Epoch 11.

In Epoch 9, the community almost unanimously voted in support of updating the LP rewards formula. As a result, the formula now includes volume at a parameter weight of 0.45 and a reduction of the parameter weighting of $stkDYDX and depth/spread to s = 0.2 and d = 0.35, respectively.

Learn more about the trading rewards program in our documentation, or our recent blog post.

Liquidity Staking Pool

$273M $USDC was staked to the pool over the course of Epoch 10 from 689 users. 383,562 $DYDX were earned over the course of Epoch 10 and distributed pro-rata every second to stakers. Despite withdrawing $100M $USDC in Epoch 9, one staker continued to stake over $100M $USDC (over 35% of the pool).

$USDC staked by address at the end of the epoch is as follows:

Source: Etherscan

102 users requested to withdraw before the Blackout Period in Epoch 10. These inactive $USDC funds can now be withdrawn and are no longer earning $DYDX rewards. Users must request to withdraw their funds before the Epoch 10 Blackout Window (last 2 weeks of the epoch) to withdraw their funds starting in Epoch 11.

5 market makers borrowed $83M $USDC from the staking pool. The maximum amount borrowed by a market maker was just over $45M $USDC. These borrowed funds are used to increase liquidity on the dYdX platform.

Source: Dune

Learn more about the trading rewards program in our documentation, or our blog post.

Safety Staking Pool

36M $DYDX was staked to the pool over the course of Epoch 10 from 3,047 users. 383,562 $DYDX were earned over the course of the epoch and distributed pro-rata every second to stakers. The top 2 stakers account for over 25% of staked $DYDX.

$DYDX staked by address at the end of the epoch is as follows:

Source: Etherscan

At the beginning of Epoch 4, there was strong community backlash against large investors staking their locked tokens in the Safety Module. In the event of a shortfall, $DYDX staked to the Safety Module could be slashed. As a result, investors would be in default of their obligations and would be required to purchase an equivalent amount of $DYDX. While investors are technically permitted to stake their locked tokens, the dYdX Foundation requested for investors to not stake their locked $DYDX and to withdraw any $DYDX currently staked. Several large investors unstaked their $DYDX. Investors are required to comply with the transfer restrictions enforced through contractual agreements with the dYdX Foundation. The dYdX Foundation will continue to monitor investor wallet addresses and work with larger investors to ensure competitive returns from the Safety Staking Pool.

277 users requested to withdraw before the Blackout Period in Epoch 10. These inactive $DYDX funds can now be withdrawn and are no longer earning $DYDX rewards. Users must request to withdraw their funds before the Epoch 10 Blackout Window (last 2 weeks of the epoch) to withdraw their funds starting in Epoch 11.

Learn more about the safety staking pool in our documentation, or our blog post.

Community Treasury

Approximately 766,703 $DYDX vested in the Community Treasury over the course of Epoch 10. The Community Treasury now holds 32,372,536 vested $DYDX tokens.

In Epoch 5, Reverie officially launched the DGP with 752,000 $DYDX transferred from the Community Treasury to the Grants Committee multi-sig. Read more about the DGP below.

Learn more about the community treasury in our documentation.

What's next?

Epoch 10 has ended

Welcome to Epoch 11! Epoch 11 started automatically on June 7, 2022 at 15:00 UTC and will end on July 5, 2022 at 15:00 UTC.

Epoch 10 ended on June 7, 2022 at 15:00 UTC. Epoch 10 rewards will be claimable here on June 14, at 21:15 UTC (7 days after the end of the epoch plus a 6 hour delay). Once tokens have been claimed, they can be transferred, staked to the Safety module, or delegated to dYdX governance.

Circulating supply

11.29% of the total $DYDX supply (excluding unearned Retroactive Rewards transferred to the Treasury and the $DYDX vested in the Community Treasury) is considered liquid at the end of Epoch 10. These earned $DYDX tokens can be claimed in perpetuity.

Claim your $DYDX rewards

The Merkle root was proposed on-chain on June 7 at 21:15 UTC and the 7-day waiting period has begun. Epoch 10 rewards will be claimable here on June 14, at 21:15 UTC (7 days after the end of the epoch plus a 6 hour delay). Once tokens have been claimed, they can be transferred, staked to the Safety module, or delegated to dYdX governance.

The Merkle tree data, which is a list of (address, reward) pairs, is available here.

Under the hood, the Merkle Distributor smart contract (0x01d3348601968aB85b4bb028979006eac235a588) will distribute $DYDX token rewards according to a Merkle tree of balances. The tree will be updated at the end of each epoch with each user's cumulative reward balance. An update is performed by setting the proposed Merkle root to the latest value returned by the oracle contract. The proposed Merkle root can be made active after a waiting period has elapsed. During the waiting period, dYdX Governance can freeze the Merkle root, in case the proposed root is incorrect or malicious. Root updates can be unpaused by a ShortTimelockExecutor.

Governance Forums

DIP 12 (on-chain) - Adding New Assets to the Starkware Priority Timelock Executor - In Progress

On June 5, Reverie created a Snapshot poll to add 5 new assets (ApeCoin (APE), Stepn (GMT), Fantom (FTM), Axie Infinity (AXS) and Optimism (OP)) to the dYdX exchange. The vote concluded on June 9 and the community almost unanimously supported the proposal (11M $DYDX/$stkDYDX (99.9%) from 477 voters (98.1%)).

On May 23, Reverie started a DRC about introducing a New Asset Listing group focused on systematically adding new markets to dYdX. On June 2, Reverie posted an update that explained the process for listing new assets and shared the Asset Scoring Tool created by Chaos Labs.

Below, we outline the steps for adding new assets to dYdX:

1. dYdX community members post about the new asset they want listed.
2. Asset is listed on the Asset Scoring Tool.
3. New Asset Listing Group creates a proposed list of new assets, and gets additional feedback from community members and market-makers.
4. Snapshot vote created to confirm support for adding all of the new assets.
5. If the Snapshot vote passes, the group will proceed with a proposal to be voted on-chain by the community. This proposal will add the assets to the smart contract for listing.
6. dYdX Trading will announce when new assets are open for trading.  

Adding new assets to the dYdX exchange requires an on-chain vote and falls under the requirements of the Starkware Executor. Starkware Executor: 5M $DYDX to create the DIP, 20M $DYDX minimum quorum, and 5M $DYDX minimum vote differential.

DRC: Grants Committee Accountability

On June 1, mxdydx.eth created a DRC to increase the accountability and transparency of the DGP. The original dYdX Grants Program DRC posted by Reverie specified organizational structure, a program lead and an eight person Grants Committee (“GC”). The DRC suggests a dYdX Community vote to select the GC, a public rubric for assessment criteria, and transparency of grant approval.

The community discussion highlighted the following:

• there is a balance between greater accountability and execution efficiency, and
• transparency and accountability could be achieved through quarterly performance and assessment.

Currently, Reverie is drafting a more detailed outline of the criteria and the selection process used for Grants.

DRC - dYdX Referral Program

On May 20, LeMayMay posted a DRC about providing Hedgie holders with the opportunity to mint and distribute 10 referral links.  Issuers would receive a commission on all fees generated and the receiver of the referral link would get a 15% discount on fees. The dYdX community discussed the following points:

• the potential for the proposed referral program to negatively impact $DYDX holders because traders would have less incentive to hold $DYDX for fee rebate purposes, and
• the potential for the referral program to be gamed by participants.

DRC: $USDC Epoch Rewards Pool Proposal

On May 23, Starkwhale posted a DRC to improve the current trader rewards mechanism by replacing end of epoch rewards with time-staked $USDC pool functioning as a protocol credit line. Starkwhale argued that the current rewards mechanism encourages claimers to dump $DYDX which negatively impacts the valuation of the dYdX protocol and $DYDX holders. The proposal involved:

• add one staked $USDC pool for use as an epoch reward credit line,
• reward locked $DYDX tokens to stakers in return for staking $USDC,
• offer unlock schedules @ 24, 36, 48, 60 months with variable APR,
• tailor variable APR correctly to meet market and protocol needs,
• create a board to oversee pool credit to debt ratios and token sales, and
• offer flat epoch rewards in $USDC comparable to current valuations.

Other active governance discussion threads

Deven Matthews from Blockchain at Berkeley, a grantee of the DGP which completed the Compound DYDX listing, created a thread exploring the possibility of $cDYDX (compound $DYDX) to be staked in the Safety Module to incentivize $DYDX holders and platform users to provide liquidity to Compound, while preserving the Safety Pool protocol safety net. The dYdX community is currently debating:

• this initiative starting a $cDYDX deposit loop, where 0-stake governance participation can be encouraged (rented governance), and
• liquidity issues.

Moe-L started a discussion to provide extra trading rewards to Hedgie holders.

DGP Update

In Epoch 5, Reverie officially launched the DGP with 752,000 $DYDX transferred from the Community Treasury to the Grants Committee multi-sig. The Grants Committee, consisting of 8 committee members committed to dYdX community growth, managed a multi-sig to fund RFPs. So far, the DGP has released 11 rounds of grant approvals (62 grants) with over $2M in pledged funding. On May 12, the DGP announced that approvals are currently paused because of the recent downturn in the market. The DGP plans to preserve the remaining capital for existing commitments with grantees. The DGP released a review of Grants V1 and is currently working on a proposal to continue operations.

Completed grants include:

• Liquidation Alert Tool - A self-hosted liquidation alerting tool to alert traders of any asset price nearing their margin liquidation levels on a dYdX position. Check out the MVP of the liquidation alert tool available here.
• DAO Organizational Structure Research - A deep dive research report around historical and existing DAO structures with guidance around successful best practices. Read more about it here.
• Tradingview Integration - Application integrating any Tradingview strategy to execute directly on dYdX Trading.
• Rewards Optimization Research and Paper - A research report and code samples that will determine optimal trading strategies for rewards maximization. Read more about it here.
• Funding Rates Page - An interactive web app to give traders a view of all dYdX asset funding rates across multiple timeframes.
• CLI Trading Tool - a tool to make it easier for non-UI based traders to execute quickly on dYdX via the API, and to allow easier integration from a programmatic standpoint. Check out the Trading CLI here.
• Trading Alerts Twitter Feed - Twitter bot that leverages API and on-chain data to post high volume trades, market volatility, new markets and more valuable insights to help promote and share information from dYdX. Follow @dYdXinfo on Twitter.
• Uganda Blockchain Events Sponsor - Sponsoring several Uganda Blockchain group events to drive discussions around dYdX, perpetuals, and crypto more broadly.
• Japanese Educational Course - The creation of an interactive dYdX course in Japanese. Watch the course here.
• DAO Research Paper - Exploring the potential structure of the dYdX DAO after V4. Read the full paper here.
• Hedgies Interactive Banner - The production of a customizable banner to integrate your Hedgie into a pfp type background for use on Twitter and other social media sites.
• C# SDK - Building a C# version of the existing Python SDK for dYdX API use. Read more about it here.
• DGP Graphic Designer (Video) - Funding weekly video design representations of DGP related announcements. Watch the videos here.
• Compound DYDX Listing - Steps to get $DYDX listed on Compound as a collateral asset with a collateral factor of 0.

Even though new approvals are currently paused, applications will remain open and you may reach out to Reverie to discuss future grants. Reach out and read more about the DGP here.

Delegation

On February 11, dYdX Foundation posted an open call for Endorsed Delegates. As we move towards V4, Endorsed Delegates are needed to help ensure community-led growth, development, and the self-sustainability of the dYdX protocol.

If you hold $DYDX and/or $stkDYDX but have no time to review proposals, gas is too expensive to vote, or you don't have enough information about potential delegates, consider delegating the proposing power and/or voting power of your $DYDX and/or $stkDYDX to one of the Endorsed Delegates:

• Blockchain at UCLA,
• Blockchain at Michigan,
• Mx,
• WOO DAO,
• Blockchain at Columbia,
• Xenophon Labs,
• Dartmouth Blockchain,
• Blockchain at Berkeley,
• BoilerBlockchain at Purdue University,
• LeMayMay, and
• Alucard.eth.

If you’re interested in delegating the voting power and proposing power of your $DYDX or you want to become an Endorsed Delegate please follow the instructions here.

Hedgies Allocation

dYdX Foundation purchased 205 Hedgies to promote the growth of the dYdX protocol and governance. On February 14, dYdX Foundation posted a list of potential actions that may result in dYdX community members being rewarded with Hedgies.

We are happy to announce that 15 Hedgies have found new homes with dYdX community members! Below, we announce the recipients and the reasons why they were chosen.

• dYdX Ambassadors - The Burrows were granted control over 6 Hedgies for community and governance initiatives.
• Jeafree - For contributing on the governance forums and providing constructive feedback about how to improve communication and transparency.
• iOS beta testers - 5 Hedgies were awarded to Julls#0109, Yancy#7632, Milliard#3606, Ruslan111#2862, and Eshwar#8107 for providing actionable and constructive feedback during the iOS beta.
• Smail | Online#5615 - For producing high quality content on Discord and creating instructional videos about dYdX.
• Intouch#3194 - Contributing to governance and providing insights into the Vietnamese market.
• Theboringtrad3r: For providing feedback and insights into the trader market in Thailand.

Want to get your hands on one of the dYdX Foundation’s 165 perpetual-loving quill balls? Easy. Get active in Governance!

Ambassador Program

On April 16, dYdX Foundation announced the Ambassador Program. Congratulations to all who completed Season 0 of the Ambassador Program.

Analytics Burrow

• Starkwhale
• Mackay
• Dmitry

Governance Burrow

• Mx
• NTInc
• LeMayMay

Media, Content & Marketing Burrow

• Mirrash
• JS
• Alexios

Risk Analysis Burrow

• 0xCChan

Student Burrow

• Zaid
• Felix

User Onboarding and Education Burrow

• Alucard
• Upload
• Gabbie

Season 1 started on June 1. Congratulations to AndyGG and Jakob.Phsyiker, new Ambassadors who joined the Governance and Risk Analysis Burrow, respectively.

An overview of the key deliverables from each burrow is linked here. Follow weekly updates on Commonwealth to learn more about what the Ambassadors are working on.

If you were not selected in the first wave of the Ambassador Program and you are interested in working with like-minded people, have a keen interest in DAOs, and want to contribute to the dYdX community, please follow announcements on Commonwealth and Discord for more information about the opportunities to get involved with the Ambassador Program. Prospective Ambassadors should complete the expression of interest form.

dYdX Trading Updates

iOS App

On May 10, dYdX Trading Inc. announced the public release of the dYdX iOS app. Eligible traders can trade long or short perpetual positions with up to 20x leverage, cross margining, zero gas fees and 24x7x365 access to markets.

This is one of the first apps to be natively released by a DeFi protocol, and the dYdX Trading Inc. team was hard at work for many months. With a native mobile app, dYdX is approaching par with product offerings from leading centralized exchanges. Traders can trade and monitor their positions on the go, with a blazing-fast and intuitive user experience. Watch the demo video here and download the app here.

To celebrate the release of the iOS app, dYdX Trading announced a second indefinite fee holiday effective on May 10.

Affiliate Program

On May 27th, dYdX Trading Inc. announcedthe self service affiliate program. The program enables all dYdX users to spread the word about dYdX and earn in the process. Those who use affiliate links to onboard new users to the exchange will receive ongoing payments based on trading fees generated while new traders onboarded will earn a discount of 5% on trading fees.

Hedgies

On January 26th, dYdX Trading Inc. announced the Hedgies, a 4,200-piece collection of NFTs. 2,443 Hedgies were included in the Initial Distribution. Over the next two years, the remaining Hedgies will be distributed by dYdX Trading Inc. as rewards for top-performing traders in Trading Leagues. In terms of utility, holding a Hedgie results in a one-tier increase in $DYDX fee tier discount on the dYdX protocol. Explore the Hedgies on hedgies.wtf or OpenSea and follow the Hedgies on Twitter, @HedgiesOfficial.

Trading Leagues

On January 25th, dYdX announced Trading Leagues, a first of its kind product that enhances the trading experience and rewards traders with weekly prizes. Trading Leagues is a new type of competition structure that rewards elevated performance on a consistent basis. There are 5 leagues: Bronze, Silver, Gold, Platinum, and Diamond. All traders will start in the Bronze League and work their way up each week, based on performance. In addition to bragging rights, traders can compete head-to-head for top spots, Hedgies, and even cash ($USDC) prizes. If you want more information about Trading Leagues, check out the FAQ here.

New Features

• TRX-USD and XTZ-USD Perpetual Markets are live for trading. Go long or short with up to 10× leverage, cross margining, and zero gas fees. dYdX now supports 37 Perpetual markets, with more coming soon. Read more about it here.
• Profiles are now live on dYdX! You can visit any profile by clicking on a row in any leaderboard to view a trader's 30D performance and their Hedgie holdings. Also, visit your own profile by clicking "Profile" in the main navigation page. When viewing your own profile, you'll be able to see all the base profile data along with an overview of your rewards. Read more about it here.
• Bridging from Arbitrum to dYdX is now live! Read more about it here.
• You can now view Trading Rewards reports from Epoch 0 to Epoch 10. View the report here.
• To improve the mobile trading experience, dYdX Trading Inc. added a “Sign into mobile" feature that allows you to seamlessly export your keys from the web to iOS via QR. Read more about it here.
• Stop Market and Take Profit Market orders are live on dYdX! Read more about it here.
• To increase responsiveness about language and localization issues, dYdX Trading Inc. and dYdX Foundation created the 🌎#┃issue-reporting channel on Discord.
• As a result of market volatility and the halt of the Terra Blockchain, LUNA-USD was put in close-only and on May 13, LUNA-USD Funding rate was adjusted to zero. Read more about it here.
• Want to practice your trades with no risk? Head here and practice today!
• Gasless deposits are live. The minimum threshold is $500 $USDC for your first deposit and $1,000 $USDC for subsequent deposits. Read more about it here.
• On January 25, Season 1 of Trading Leagues officially started with 4,543 traders entering the Bronze League. Enter now to win part of the weekly cash prizes. Read more about it here.
• dYdX Trading Inc. added a dashboard to the rewards data page for traders to see the rewards boost they receive for staking $DYDX. Read more about it here.
• dYdX integrated with Enno Wallet! Read more about it here.
• Want to transfer $USDC between accounts without paying gas fees? Read more about the create_transfer api here.

Social

• Do you want more information about dYdX and the dYdX community? Check out important information under the 🧷┃official-links channel on Discord.
• The Analytics Burrow ran a Hedgie giveaway competition to guess the BTC closing price for June. Read more about it here.
• The Governance Burrow is currently running a Hedgie giveaway competition where one lucky certified endorsed delegate will be awarded a Hedgie! Read more about it here.
• Interested in learning more about the DGP. Check out the new website and the Grants Library.
• A huge shout out to all of the beta testers - your time and efforts were greatly appreciated! Read more about it here.
• Hedgies official rarity ranking is now live on Rarity Sniper! Read more about it here.
• dYdX Ambassadors started a Bounty Program! Read more about it here.
• Corey Miller, Growth Lead at dYdX Trading Inc., contributed to OurNetwork #122 on Defi derivatives. Read more about it here.
• Want to learn more about leverage trading and risk management? Ivo, Head of Research at dYdX Trading Inc., released his first article on the dYdX blog. Read more about it here.
• Antonio, founder and CEO at dYdX Trading Inc., was featured on The Scoop. Listen to the full conversation here.
• On June 10, dYdX Foundation released a token holder questionnaire to gain greater insight into the relationship and overlap between token holders and traders. Complete the questionnaire here.
• dYdX Trading Inc. is now @dYdX on Twitter. Follow @dYdX for all the latest news, updates, and thoughts from dYdX!
• If you love all things Hedgies and love collecting POAPs, join us for our weekly Hedgie Huddle every Wednesday at 9 PM UTC on Discord. Listen or watch previous Hedgie Huddles here.  
• dYdX Foundation and the DGP co-hosted an AMA with Nethermind and Forta. Listen to the AMA here.
• Antonio, founder and CEO at dYdX Trading Inc., shares ideas and content in the 💭┃antonio-thoughts channel on Discord. Join the channel for more insights and information.
• @Kikalxd 🦔 released a sticker creation request form. If you want to collaborate or provide feedback about dYdX animated telegram stickers, complete the form here.
• The DGP is currently paused, but please reach out if you have an idea for a future grant or any other questions. You can read more about it here or apply here.
• dYdX Foundation is hiring! Join us as a Country Lead.
• Shout out to @theboringtrad3r for creating the dYdX Community on Twitter. Follow and read more about it here.
• Antonio, founder and CEO at dYdX Trading Inc., was featured on Bloomberg and discussed dYdX, the crypto markets, and much more. Watch or listen here.
• Shout out to grant recipient @shippooor for releasing an initial version of their Twitter bot posting dYdX order alerts/market activity updates! Follow @dydxinfo.
• A new channel, 🎬┃content, was created on Discord to showcase community-created content.
• dYdX Foundation hosted an AMA with Starkwhale, dYdX Ambassador and valuable member of the dYdX community. Listen to it here.  
• Want to learn more about dYdX, DeFi, and much more? Check out the dYdX Academy and watch for updates at 🎓┃dydx-academy on Discord.
• Season 0 of the Ambassador Program is over. GM to Season 1. Read more about it here and listen to the Season 0 AMA recap here.
• Looking for more information about the dYdX ecosystem? Check out the dYdX DAO info docs here.
• Make sure you RSVP to the following events: Hedgie Huddle, and Epoch 10 Review and AMA.
• Representatives from dYdX Trading Inc. and the dYdX Ambassadors were at Consensus. Keep an eye out for dYdX Ambassadors, members of the DGP and grantees, members of the dYdX Trading Inc. team, and members of the dYdX Foundation team at EthNYC.