dYdX Chain Supports CHZ Token and Sees Increased Community Governance

🔥 Governance Surge, Token Support

By dYdX
May 2, 2024, 6:21 PM
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dYdX Chain, a fully decentralized and community-governed platform, now supports the CHZ token.​ In approximately six months, the dYdX Community has created 55 governance proposals, marking a significant increase compared to the previous v3 governance.​ According to CoinGecko, the DYDX token has a total supply of 1 billion tokens, with a current circulating supply of 501,325,666 DYDX.​ Users can safely bridge their ethDYDX (dYdX v3's governance token) to the dYdX Chain DYDX token.​ Staking to secure the chain rewards the community with 100% of protocol fees distributed in USDC, enabling governance of the decentralized platform.​

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🤖 Telegram Trading Bot

dYdX launched **Pocket Pro Bot**, bringing professional trading directly into Telegram chats. The bot enables users to: - Trade 200+ perpetual markets and Solana tokens - Execute trades with up to 50x leverage using simple commands - Copy trades and compete on social leaderboards - Access real-time alerts and P&L tracking The integration targets the next 100 million Web3 users by **meeting them where they already communicate** - in Telegram groups. No separate apps or extensions required. Key features include: - One-command trading for long/short positions - Social trading with friends in group chats - Instant position management - Cross-platform compatibility To celebrate the launch, dYdX is running a **$100,000 trading competition** until October 31, with both individual and squad leaderboards. The move represents a shift toward integrating deeper into user behavior rather than just building new interfaces. [Learn more about the Pocket Pro Bot](https://www.ccn.com/education/crypto/dydx-telegram-bot-crypto-trading-guide/)

🚀 2Z Token Launches

**dYdX adds new trading pair with leverage** - **#2Z token** (@doublezero) now available for trading - **Up to 5x leverage** supported on the platform - Direct trading link: [dydx.trade/trade/2Z-USD](https://dydx.trade/trade/2Z-USD) **Risk warnings included:** - Low liquidity and high volatility expected - Increased liquidation risk for leveraged positions - Listing does not constitute endorsement - Users advised to only trade familiar assets **Key reminder:** Exercise control and understand risks before trading. This follows dYdX's pattern of instant market listings, allowing users to trade new tokens with immediate liquidity through their platform.

dYdX Launches Surge Season 7 with Zero Trading Fees for Front-End Users

dYdX Launches Surge Season 7 with Zero Trading Fees for Front-End Users

**dYdX has launched Surge Season 7**, eliminating trading fees entirely for front-end users. **Key Features:** - **0.00% fees** for all web and mobile traders - **50% fee rebates** for API traders - **$1M in $DYDX rewards** available - Claims to be the **cheapest place to trade DeFi perpetuals** This represents a significant upgrade from Season 6, which offered 50% fee rebates. The new season provides 100% fee rebates for front-end users while maintaining substantial rewards for API traders. [Learn more about Surge Season 7](https://www.dydx.xyz/blog/fee-free-trading-1m-rewards-surge-season-7-launches-on-dydx)

dYdX Adds HOLO Trading with 5x Leverage

**dYdX has listed $HOLO** from @HoloworldAI for trading with up to 5x leverage. Traders can now access the token through the platform's instant market listing feature. This follows recent additions of other tokens including Tesla tokenized stock ($TSLAX) and Sky Ecosystem ($SKY). **Key details:** - Available immediately on dYdX - Up to 5x leverage supported - Part of dYdX's expanding token offerings The exchange continues its pattern of adding new trading pairs to provide more options for users. [Start trading HOLO](https://dydx.trade/trade/HOLO-USD?utm_source=dYdXTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial)

dYdX Details Token Utility Strategy

dYdX outlined its comprehensive strategy to maximize **$DYDX token utility** through multiple interconnected mechanisms. **Current Features:** - Staking $DYDX earns USDC from protocol fees while securing the network - **25% of net protocol fees** fund monthly buybacks (4M+ DYDX already repurchased) - Purchased tokens are staked to validators, boosting security **Coming Soon:** - **5-10% validator commission discounts** for stakers - Direct USDC ↔ DYDX swapping via Osmosis integration - One-click staking after purchase **The Strategy:** Create a flywheel where trading activity feeds back into token value through rewards, governance, and network security. Each component reinforces the others - trade to earn, stake to secure, govern to steer. dYdX emphasizes that protocol success should directly connect to governance token performance, strengthening the community-run network. [Read the full 2025 roadmap](https://www.dydx.xyz/blog/august-roadmap-update)

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