Paradex, a perpetuals exchange built as its own Starknet appchain, launched its DIME token on March 5, 2026 and sent 25 percent of the supply to users in a genesis airdrop. The claim window ran about two weeks and closed around March 19. XP Season 3 has accrued since February 1, and Paradex's XP page says nothing about turning that XP into tokens.

Figure 01Where Paradex sits in its distribution cycle on October 7, 2026. The last box is the open question.

Where it stands

Paradex announced the final genesis split on January 30. Season 2 holders would receive 20 percent of supply, up from a planned 15 percent, on top of 5 percent for Pre-Season and Season 1. KuCoin reported on March 5 that the foundation had also bought 4.4 percent of supply through XP purchases, which left circulating supply at launch near 24.5 percent, excluding the treasury.

The claim ran through the Paradex app, and DIME initially traded only on Paradex, KuCoin said. A points system that converted cleanly into a one-shot, no-vesting distribution is the reason this exchange stays on the tracker.

The January announcement also explains why the genesis pool was large. Season 2 lifted average daily volume from $68 million to $2.1 billion and open interest from $28 million to $679 million, according to Paradex. That growth was what the XP paid for. Season 3 was framed around the next product phase: spot trading, real-world-asset perpetuals and options markets.

Season 3 is a separate, open program. Paradex's documentation lists it as running from February 1, 2026 with no end date, and a weekly pool of 4,000,000 XP credited every Wednesday. Airdrops.io, updated July 24, lists what earns XP: perp and spot trading (including the DIME/USD market), limit orders that add liquidity, deposits and referrals.

Referrers earn 5 percent of a referee's taker fees on up to $25 million of referred volume, and that activity raises their own Season 3 XP. Nothing on the XP page connects the XP to DIME or any other token.

How DIME has traded

DIME trades in a thin market. CoinGecko showed about $58,000 of 24-hour volume on October 7, most of it on Paradex's own DIME/USD market and the rest in pools on Uniswap V4 and Meteora. CoinMarketCap lists an all-time high of $0.07024 on September 22 and an all-time low of $0.007515 on June 26.

The two aggregators disagree on circulating supply and on the size of the high, so treat any DIME valuation as rough. A thin book also means that a few large trades can move the price, which would matter to anyone holding tokens from a future payout.

Risks and open questions

The foundation owes Season 3 farmers nothing. Twenty-five percent of supply is already out, and seasons can end as engagement programs with no payout. Orbit Perp Screener lists perp fees of 3 basis points for takers and 0 for makers, with a maker rebate, so farming here costs money in fees and in trading risk. A 2026 token with a famous finished claim is also what phishing pages impersonate, and the scam checklist applies in full.

If you trade perps anyway, routing flow to Paradex adds little cost beyond the risk of a mid-sized venue. If you would trade only to farm, you are paying real fees for an unpromised payout. Our farming guide covers sizing. We hold the same discipline here as on Hyperliquid's unannounced second season: points are not a promise.

What to watch:

  • A Paradex statement linking Season 3 XP to DIME. The documentation makes none today.
  • An end date for Season 3. The documentation shows the end as to be decided.
  • Any change to the 4,000,000 XP weekly pool. The XP page says a new XP system will roll out with updated documentation, which could change how Season 3 earns.

How to position yourself

  1. Trade perps or spot on app.paradex.trade with the wallet you farm with; XP is credited every Wednesday for the prior week.
  2. Add limit orders, deposits and referrals, which also earn Season 3 XP.
  3. Check your XP inside the app each week and ignore third-party calculators, because no points-to-token rate exists.
  4. Risk only fees and margin you can afford to lose: Paradex has committed no tokens to Season 3.
  5. Ignore any page offering a DIME claim. The genesis claim closed around March 19, 2026, and a finished claim is standard phishing bait.

Reality check None of these steps guarantee an allocation. Teams change criteria late, add anti-sybil filters, and sometimes never ship a token. Only spend time and gas you are fine writing off.