As dYdX'southward governance token (DYDX) gains amongst speculation that Chinese traders could be migrating to the derivatives decentralized exchange (DEX), savvy decentralized finance farmers are claiming to be sitting on half-dozen-effigy stashes after gaming the protocol's recent airdrop.

DYDX has gained 85% in two days as reports claim that China'due south crypto traders are converging on the decentralized margin trading protocol as Beijing moves to further fissure down on digital assets.

DYDX/USD. Source: CoinGecko

The substitution's governance token was airdropped to users on Sept. 8. As the number of tokens received by users was determined past historic trading activity on the exchange, news of the airdrop drove a flurry of activeness equally farmers flocked to the platform to capitalize on the free tokens.

With the DYDX token currently trading at $21 and its market place capitalization surpassing $1 billion, many airdrop recipients take fabricated off with meaning profits.

Some users have taken to Twitter to boast of their airdrop earnings, describing how they sought to game the protocol by trading the same avails on the platform between multiple wallets nether their control to qualify for hundreds of thousands worth of rewards.

Twitter user Daniel Que tweeted that his airdrop is "worth $420K now," noting that he would have been excluded from the event if he were nonetheless residing in the Us.

"Moving to Taiwan (and not getting a Green Bill of fare) was a proficient telephone call," he said.

Others were not and then lucky, with many users complaining almost having been "protected" from the airdrop by the United States Securities and Commutation Commission.

Related: Derivatives DEX dYdX beats out Coinbase's spot markets past volume amongst People's republic of china FUD

DYdX has seen impressive fundamental growth this twelvemonth, with derivatives volume gaining two,583% over a 3-month flow since June 30. On Monday, the margin trading DEX'south daily book outpaced that of leading U.South. spot exchange Coinbase for the first fourth dimension.

The total value locked on the platform has just hit an all-time high of $503 one thousand thousand according to L2beat, which ranks it as the second-largest layer-two network by total value locked (TVL) behind Arbitrum. The exchange currently represents twenty% of all second-layer TVL.