💹dYdX SRB
dYdXSRB is a benchmark that represents annualized reward rate of the dYdX token.
dYdXSRB is calculated and published by Staking Rewards via the and Staking Data API.
| Formula key | Metric name | Description |
|---|---|---|
ap | Annual Provisions (annual_provisions) | The total ammount of tokens emited per year. *Dec. 23, Block Rewards are currently not enabled |
df | Daily Fees (daily_fees) | The total number of DYDX tokens paid as transaction fees and Total Trading fees in USDC paid on the platform in the last 24 hours. |
c | Community Tax (community_tax) | Community Tax is the percentage of inflation rewards and fees that are sent to the community pool at each block. The constant parameter is set by dYdX governance. *Dec. 23, Community Tax is set to 0 |
st | Staked Tokens (staked_tokens) | The total number of DYDX tokens bonded with active, non-jailed validators. |
dYdX has established a system where traders can earn rewards based on their trading activity. This is designed to incentivize trading volume and liquidity on the platform. The reward structure and fee schedule can be adjusted by the governance community, indicating a flexible approach to managing market dynamics and user behavior.
dYdXSRB takes into account all accumulated rewards, whether they have been claimed or remain unclaimed.
dYdXSRB operates on a non-compounded basis, meaning it excludes returns generated from the reinvestment of rewards.
Slashing
dYdXSRB does not factor in the possibility of slashing occurrences.
It's important to note that if validator entities face slashing, rewards will increase, as the slashed DYDXs are reallocated among validators.
dYdX Validator Staking Rewards Rate: DYDXSRB(v)
Staking Rewards calculates the dYdXSRR for each validator based on their individual performance and commission rate.
| Formula key | Metric name | Description |
|---|---|---|
p | Performance | The percentage of successfully validated blocks over the last 10,000 assigned blocks for this validator. |
cr | Commission Rate | The percentage commission rate the validator has set as a delegation fee for all delegators. |
Observation Period:
The DYDXSRB is determined based on the latest generated block at the point of evaluation.
This data is then annualized for a comprehensive year-long projection.
Calculation
The calculation happens every 2 hours and is immediately published via Staking Data API.
Limitations
DYDXSRB employs a 365-day convention for annualizing current block provisions and daily fees. This convention remains consistent and does not accommodate adjustments for leap years.
dYdX Real Reward Rate dYdXSRB(r)
The real reward rate calculates the DYDXSRB adjusted for inflation in the network.
| Formula key | Metric name | Description |
|---|---|---|
i | Inflation Rate (inflation_rate) | The annual provisions adjusted by the actual block time of the last 24h and divided by the total ATOM supply in the network. |
Inflation Rate Behaviour
Token Allocation and Unlocks: dYdX has a total supply of 1 billion tokens, with various allocations for investors, community treasury, rewards treasury, and others. These tokens are being unlocked over a 5-year period, with significant unlocks already occurred and more scheduled for the future. This unlock schedule could potentially influence the market dynamics due to the increase in circulating supply.
Inflation Rate Post-5 Years: After the initial five-year period, dYdX plans to implement a perpetual inflation rate of 2% every year. This is intended to ensure a steady supply of DYDX tokens for community rewards and contributions.
Other dYdX metrics calculated by Staking Rewards:
| Metric | Description |
|---|---|
Delegated Tokens (delegated_tokens) | The number of dYdX tokens delegated to validators |
Self Staked Tokens (self_staked_tokens) | The number of dYdX tokens staked by validators directly. |
Staking Wallets (staking_wallets) | This metric refers to the total quantity of distinct delegations made. It doesn't distinguish based on unique delegator addresses and excludes considerations of any minimum delegation thresholds. |
Staking Ratio (staking_ratio) |
Data Sources:
Staking Rewards from indexed Cosmos Blocks and Blockchain RPC Endpoints
References:
📚 Learn more about dYdX Staking
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