dYdX Has Stopped Promoting After Receiving Much Criticism From The Community

Due to the growing controversy within the community, in order to prevent the case from going further and avoid causing unnecessary misunderstandings, dYdX stopped this bonus program just one day after making the announcement.

The exchange, on the other hand, simply stated that its short-lived promotional campaign terminated on Thursday “effective immediately” due to “overwhelming demand.”

Besides, dYdX once again affirmed that the project does not require users to provide personal information; participating in the promotion is completely optional and only requires image verification to prevent fraud.

This claim does not represent a shift in the platform’s “holistic” decentralized stance on accessibility, transparency, mutability, or censorship.

The promotion in question went live on Wednesday and offered new users a $25 incentive if they deposited $500 or more into the platform.

The only caveat was that they had to agree to a “Liveness Check” via webcam to authenticate their identity, which irritated several group members. And the question arises, will users who completed the program on Wednesday receive $25?

dYdX, notably, made no note of the community backlash in its most recent tweet but backed down on its use of face recognition software in an earlier post, asserting that it was simply used to verify customers weren’t claiming the bonus on multiple identities.

Yearn.finance contributor Adam Cochran stated that, despite previously being a strong supporter of dYdX, he would be leaving the platform and selling his DYDX tokens until he sees fundamental changes there:

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