DYDX is the governance token of the dYdX decentralized exchange, operating on a Layer 2 protocol with StarkWare's technology. More
| Fully Diluted Valuation | $634.19M |
|---|---|
| 24H Trading Volume | $32.79M |
| 24H Low / High | $0.66 / $ 0.75 |
| Circulating Supply | 773.38 M |
| Total Supply | 958.34 M |
| Max Supply | 1.00 B |
| Categories | GMCI DeFi Index 15 more |
|---|---|
| Founder | Antonio Juliano |
| Website | dydx.trade |
| Socials | 3 more |
| Chains | Osmosis Ecosystem 1 more |
| Explorer | Mintscan |
| Contracts |
ibc/8....2E48C
1 more
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| Name | Pair | OG Score |
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In the ever-evolving landscape of cryptocurrency, dYdX stands out as a game-changer, redefining the way users engage with digital assets. Founded in 2017 by the visionary Antonio Juliano, dYdX is a decentralized exchange offering a myriad of financial instruments, from perpetuals and margin trading to lending and borrowing. At its core, dYdX aims to blend the security and transparency of decentralized exchanges with the speed and usability of centralized counterparts.
Key Features:
dYdX operates as a Layer 2 protocol, leveraging StarkWare's technology to enhance transaction speed and efficiency on the Ethereum blockchain. The platform introduces the DYDX governance token, empowering the community to actively participate in shaping the protocol's future. Holders of DYDX enjoy governance powers, allowing them to propose and vote on crucial decisions.
User-Friendly Interface:
The user interface of dYdX is designed for simplicity and functionality. Traders can engage in active governance, view rewards from their trading activities, and monitor their DYDX holdings seamlessly. The concept of epochs adds a structured rhythm to the platform, with rewards and staking contracts governed by 28-day periods.
Earning DYDX:
Users can earn DYDX by staking USDC to the liquidity staking pool, fostering liquidity network effects. Community-approved liquidity providers utilize staked USDC to enhance market liquidity on dYdX, and DYDX payouts are distributed in real-time based on each staker's share of the total pool.
Community Treasury:
A vital component of dYdX is the community treasury, allocated 5% of the initial token supply. This treasury supports initiatives that drive dYdX's growth, including funding programs for NFTs, hackathons, analytics dashboards, and more. It plays a pivotal role in incentivizing strong governance and ensuring the platform's long-term success.
dYdX Chain Migration:
The ongoing migration of ethDYDX to the dYdX Chain signifies a crucial step for the platform. This migration enhances staking, security, and governance, providing users with an improved experience. The transition is part of dYdX's commitment to innovation and continuous enhancement.
Security Measures:
DYDX operates as an ERC-20 token on the Ethereum mainnet, ensuring a secure foundation. The Layer 2 scaling solution relies on StarkWare's ZK-STARKS technology, enabling off-chain validation of transactions. This not only enhances security but also eliminates gas costs and reduces trading fees.
Conclusion:
dYdX is not just a decentralized exchange; it's a comprehensive ecosystem that empowers users, fosters community collaboration, and pushes the boundaries of what's possible in crypto trading. With a robust foundation, user-friendly interface, and commitment to innovation, dYdX is poised to play a pivotal role in the future of decentralized finance. Whether you're a trader, liquidity provider, or governance enthusiast, dYdX welcomes you to explore the exciting possibilities it has to offer.
dYdX revolutionizes crypto trading by combining advanced financial tools with decentralization, offering features like perpetuals, margin trading, and lending, while utilizing StarkWare's Layer 2 for enhanced speed and security.
Antonio Juliano, a seasoned programmer and founder of dYdX, has been driving the platform since its inception in 2017, bringing his expertise in blockchain technology and a vision for decentralized finance.
Founded in 2017 with over $10 million in seed venture capitalist funding, dYdX has garnered support from various investors, with the dYdX Foundation's Council members, including Arthur Cheong, Rebecca Rettig, and Markus Spillman.
dYdX operates as an ERC-20 token on the Ethereum mainnet, ensuring security. The Layer 2 scaling solution relies on StarkWare's ZK-STARKS technology, enhancing security by validating transactions off-chain.
You can buy dYdX (DYDX) on Binance, OKXGate.ioHTXKuCoin cryptocurrency exchanges.
