dYdX
DYDX Price
DYDX is the governance token of the dYdX decentralized exchange, operating on a Layer 2 protocol with StarkWare's technology. More
| Fully Diluted Valuation | $665.55M |
|---|---|
| 24H Trading Volume | $18.85M |
| 24H Low / High | $0.66 / $ 0.71 |
| Circulating Supply | 753.39 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
|
| Name | Pair | OG Score |
|---|
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.
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There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of dYdX (DYDX) is ($753,394,193), max supply of dYdX DYDX is ($1,000,000,000) and the market cap of dYdX DYDX is ($523,217,345).
What is the dYdX (DYDX) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of dYdX (DYDX) is $0. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether dYdX (DYDX) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (dYdX DYDX) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does dYdX (DYDX) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether dYdX (DYDX) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
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