DYdX initiates a community vote on whether to introduce the market maker rebate plan

It is reported that dYdX initiated a community vote on whether to introduce a market maker rebate plan, aiming at stimulating liquidity and reducing dependence on rewards. The proposed market maker rebate plan is composed of five levels, which are divided based on the percentage of its trading volume in the 30-day trading volume on dYdX, and the fee rebate is between 0.0025% and 0.01%. The voting will end at 09:34 Beijing time on February 22.

Interpretation of this information:

The cryptocurrency derivatives trading platform dYdX is conducting a community vote to determine whether to introduce a market maker rebate plan that aims to stimulate liquidity and reduce dependency on rewards. The proposed plan consists of five levels that are determined by the percentage of trading volume in the past 30 days on dYdX, with fee rebates ranging between 0.0025% and 0.01%. The voting will end on February 22, 2021, at 09:34 Beijing time.

The message highlights the efforts of dYdX to increase liquidity and reduce its reliance on rewards. A market maker rebate plan is seen as a potential solution to achieve these goals. The plan proposes fee rebates for market makers, which will encourage them to increase their trading activity on the platform. The rebate amount varies based on the percentage of trading volume contributed by a market maker. The higher the trading volume, the higher the rebate percentage.

By introducing the market maker rebate plan, dYdX hopes to attract more traders to its platform and increase trading volumes. This will ultimately lead to higher liquidity, enabling traders to buy and sell assets more easily. The reduction in dependency on rewards will also increase the sustainability of the platform, ensuring its long-term viability.

The call for a community vote indicates that dYdX values the opinions of its users and is committed to incorporating their feedback into its decision-making process. The voting process also creates a sense of ownership among the community, fostering a stronger sense of loyalty and engagement.

In summary, the three keywords that describe the message are:

1. Market maker rebate plan: A proposed fee rebate plan aimed at increasing liquidity and reducing dependency on rewards by incentivizing market makers to trade more actively on the dYdX platform.

2. Community vote: A democratic decision-making process that values the opinions of dYdX users and fosters engagement and loyalty.

3. Liquidity: The overall goal of the market maker rebate plan, which aims to make it easier for traders to buy and sell assets on the dYdX platform.