Antonio Juliano, the founder of dYdX, announced on Twitter on 28 October 2023, regarding impending substantial transfers of $DYDX tokens in the following days. This alert is in alignment with dYdX Trading Inc. and other locked token holders’ plans to migrate tokens to the dYdX Chain, which will be recorded as transfers on both Ethereum and the dYdX Chain. It’s pertinent to note that these tokens will remain locked and are not slated for sale.
Following Juliano’s announcement, the dYdX Foundation provided further details, anticipating large internal movements of the locked ethDYDX tokens held by investors and team members in the near future. The Foundation has outlined the process of bridging these locked tokens from Ethereum to other blockchains, inclusive of the dYdX Chain, via tweets dated 28 October 2023. Additionally, it is actively monitoring locked token holders’ wallet addresses to ensure compliance with legal agreements.
Read more…
