I apologize for the somewhat clickbait headline, but I believe it’s time to discuss what’s happening with the dYdX token. I remind you that we hit ATL today.
My belief is that if you’re building something in the crypto world, for most potential clients and observers, the token price and its dynamics are indicators of the project’s success and attention. This is absolutely native marketing for the project.
It doesn’t matter what technologies you have, what you write in your press releases, which metrics you reference, or which bloggers you give interviews to and advertise with; if the token is in “down only” mode, that becomes irrelevant.
I understand that there were issues with regulations, the team being in the U.S., and so on, but after the U.S. president launched his meme coin, it seems like it’s time to act more transparently.
Since the launch of MegaVault, the staking yield is basically non-existent for such a risky asset.
I think we need to come up with additional utility for the token; otherwise, no marketing budget or collaboration with KOLs will save it.