dYdX DYDX

1. Summary

Ranks

Liquidity

99

Developer

93

Social

77

Momentum (beta)

39

Stack Rank™

71

Price

$1.11 -9.9%

Market Cap

$715.61M (#105)

Supply

606.07M / 770.91M

Tags

DeFi Cosmos Ecosystem Decentralized Exchange (DEX) DragonFly Capital Portfolio DeFiance Capital Portfolio Andreessen Horowitz (a16z) Portfolio GMCI DeFi Index Appchains Delphi Digital Portfolio

More Metrics

Price
52W High price	$4.38
52W High date	8th Mar 2024 (7 months ago)
All Time High (ATH) Date	7th Mar 2024 (7 months ago)
ATH Price	$4.52
% From ATH	-70.39%
All Time Low (ATL) Date	5th Jul 2024 (3 months ago)
ATL Price	$1.02
% From ATL	30.87%

Supply & Trading Volume
Trading Volume (24h)	$76.03M
Total Supply	770.91M
Max Supply	1.00B
Circulating Supply	606.07M

Less Metrics

Description

dYdX - Decentralized Derivatives and Margin Trading Platform

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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.

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