Paradex said the $DIME token generation event is expected to take place in late February or early March after the Lunar New Year holiday, with the exact date to be announced separately by the Paradex Foundation. At TGE, the platform plans to distribute 25% of fully diluted supply to all XP holders, and those tokens will be fully unlocked at launch.
The update came as Paradex declared the close of XP Season 2. The platform also revised its community reward structure: participants in Season 2 will receive 20% of total token supply, up from the previously planned 15%, while the allocation for Pre-Season and XP Season 1 holders remains 5%. Paradex said half of the total supply is reserved for user rewards and ecosystem participation.
Season 2 metrics climbed across trading activity
Paradex reported sharp growth in several operating metrics during XP Season 2. Average daily trading volume rose from $68 million to $2.1 billion. Open interest increased from $28 million to $679 million, while total value locked climbed from $25 million to $218 million. The platform’s user count also expanded from 4,100 to 70,300.
During the final week of the season, from Jan. 23 to Jan. 29, Paradex said it distributed 6 million XP directly to active users’ wallets, with additional rewards allocated through referral codes and its affiliate program. Users who accumulated more than 25,000 XP in that final week also received an exclusive BadgerBox drop. The final waitlist snapshot is scheduled for Jan. 31 at 00:00 UTC.
DIME to debut on Paradex spot market
According to the announced plan, $DIME will first list on the Paradex spot market, and the issuing entity will be the Paradex Foundation. Paradex also said XP Season 3 will begin on Feb. 1, with the next stage centered on spot trading, real-world asset perpetuals, and options markets.
The platform added that XP accumulation will start immediately on Feb. 1, while the first weekly XP distribution for Season 3 will take place after TGE so the team can focus on the token launch process. Paradex describes itself as a privacy-first, zero-fee onchain perpetuals exchange.