dYdX Logo

dYdX DYDX

dYdX header image

1. Summary

Ranks

Liquidity
98
Developer
93
Social
77
Momentum (beta)
47
Stack Rank™
74
Price
52W High price $4.38
52W High date 8th Mar 2024 (4 months ago)
All Time High (ATH) Date 7th Mar 2024 (4 months ago)
ATH Price $4.52
% From ATH -70.39%
All Time Low (ATL) Date 5th Jul 2024 (1 week ago)
ATL Price $1.02
% From ATL 30.87%
Supply & Trading Volume
Trading Volume (24h) $14.32M
Total Supply 770.91M
Max Supply 1.00B
Circulating Supply 606.07M
Description

dYdX - Decentralized Derivatives and Margin Trading Platform

dYdX - Decentralized Derivatives and Margin Trading Platform

dYdX is a decentralized platform designed for peer-to-peer derivatives and margin trading, built on Ethereum and using the 0x protocol. This open-source platform allows for efficient markets through off-chain 0x orders and economic incentives for price discovery. The protocol utilizes modular, extensible smart contracts, enabling continuous opt-in upgrades.

Key Features

  • Decentralized Margin Trading: Provides perpetual trading with leverage options for users.
  • Decentralized Exchange (DEX): Offers a gas-less trading experience, with only maker and taker fees in USDC.
  • Modular Design: Enables continuous upgradability through user-specified smart contracts.
  • Governance: Initially handled by a multisig contract with limited powers, aiming for a DAO-based governance system in the future.
  • Security: Designed to protect users in case of security concerns.
  • Scalability: Utilizes off-chain solutions for efficient transactions.

The dYdX Token (DYDX)

  • Function: Fuels the dYdX ecosystem and is used for staking and governance.
  • Distribution: Total supply of 1 billion tokens, with various allocation percentages for community, trading rewards, and investors.
  • Migration: ethDYDX tokens can be migrated to DYDX.

dYdX Foundation

  • Independent Not-for-Profit Entity: Based in Zug, Switzerland, supporting the dYdX protocol and community.
  • Dashboard: Allows DYDX holders to participate in governance and stake their tokens.

Community Development

  • Retrospective Mining Rewards: Introduced to incentivize early users.
  • Trading Rewards: Provided for trading volume on the dYdX exchange.
  • Layer-2 Incentives: Aims to accelerate liquidity and usage of the layer-2 protocol.

Roadmap

  • Migration: Plans to migrate other layer-1 Ethereum-based products to layer-2, powered by Starkware.
  • Future Development: Focuses on perpetuals and continued improvement of the platform.
2. Price

DYDX

2.1. Market Performance

How does dYdX's (DYDX) performance compare to the median performance for assets of a similar market capitalization?

30 Day Return

-23.8%

DYDX

-25.8%

Similar Market Cap

60 Day Return

-32.1%

DYDX

-24.4%

Similar Market Cap

3. Developer Activity

We're monitoring 57 dYdX GitHub repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in GitHub's stat processing, recent activity maybe underrepresented.

Weekly Commits (All dYdX Repos)

Commits vs. The Market

  • Past 4 weeks: 274 commits vs. an average of 1
  • Past 12 weeks: 575 commits vs. an average of 8
  • Past year: 1,445 commits vs. an average of 117

Most Active Repos

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Top Developers 2024

In total, 129 developers have contributed to dYdX over the past year. Who are the most active dYdX developers, by commits, over the past year?

Related Projects

Developers working on dYdX also worked on these projects.

4. Social Activity

Tip: Toggle each network by clicking the name above

Historic data is only available from 22nd April 2022

Total Followers

Reddit Subscribers
Active Reddit Users (past 24h)
Discord users 15,748
Active Discord Users 2,100
Telegram Users
Twitter followers 39,573
5. News
7. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://trade.dydx.exchange/r/KUCMNNHD
Explorer https://www.mintscan.io/dydx
Twitter @dYdX

What is the correct contract address for dYdX?

Cosmos ibc/831F0B1BBB1D08A2B75311892876D71565478C532967545476DF4C2D7492E48C

Has dYdX been audited for security?

No security audits found for this project.

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