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TechFlow reported that the dYdX Foundation announced the selection of the DYDX token as the L1 token for dYdX Chain, expanding its utility to include staking, security, and governance.
All fees on dYdX Chain will be distributed to validators and stakers, while transactions will not require gas fees.
Previously, ethDYDX served only as a governance token; now, DYDX becomes the native token of dYdX Chain, supporting an independent PoS blockchain network.
The dYdX Foundation announced that after DYDX was selected as the L1 token for dYdX Chain, its utility has expanded to include staking, security, and governance. All fees on dYdX Chain will be distributed to validators and stakers, while transactions do not require gas fees. Previously, ethDYDX served only as a governance token; now, DYDX becomes the native token of dYdX Chain, supporting an independent PoS blockchain network.
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