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dex
dYdX is a decentralized exchange or DEX that offers perpetual trading and derivatives trading. Built on the Ethereum blockchain, it provides traders with a powerful trading environment for margin trading and derivatives. The platform enables users to buy or sell crypto assets instantly while benefiting from advanced trading tools.
This coin is available on Newton.
The dYdX token serves as the governance token of the dYdX protocol, allowing token holders to propose and vote on governance proposals. Through decentralized trading, traders and investors can engage in cross-margin trading and spot trading with reduced trading fees. dYdX also offers staking options, where users can earn rewards based on their trading activity.
With the launch of dYdX v4, the platform is transitioning to a fully decentralized trading protocol. This shift enhances the trading experience by eliminating reliance on centralized exchanges and improving liquidity. dYdX also enables traders to trade any market instantly while maintaining control over their crypto assets.
Founded by Antonio Juliano, dYdX Trading Inc. has established itself as a leader in DeFi’s pro trading platform sector. The launch of dYdX Chain marks a major milestone in creating a decentralized trading platform with new trading features. This transition reflects dYdX’s commitment to enhancing decentralized margin trading and derivatives trading.
dYdX token holders can participate in governance decisions and earn dYdX tokens across the platform. Market makers and liquidity providers benefit from its range of features, including perpetual contracts and leverage. By offering trading volume and market depth comparable to centralized exchanges, dYdX continues to shape the future of decentralized trading.
dYdX Exchange is a DEX that provides perpetual futures contracts, allowing users to trade without an expiration date. Unlike traditional futures, these contracts remain open as long as margin requirements are met. dYdX allows up to 20x leverage on trading pairs like ETH, BTC, SOL, and AVAX, with USDC used for collateral. If an account balance falls below the margin requirement, positions are liquidated.
The dYdX works through smart contracts, giving users full control over their funds. While decentralized, its order book is centralized to improve trading options for both retail traders and market makers. This hybrid approach helps in enhancing the trading experience by improving liquidity and execution speed.
With dYdX v3, transactions are processed on StarkEx, an Ethereum layer 2 solution. This system batches multiple transactions before submitting them to Ethereum, reducing costs and increasing speed. Zero-knowledge proofs further secure data privacy, making the process more efficient for traders.
The future of dYdX is shifting with dYdX v4 protocol, which moves from Ethereum to dYdX Chain. Built on Cosmos SDK, this upgrade is designed to improve scalability and flexibility. While spot and margin trades remain available, the focus is primarily on trade perpetual contracts.
The dYdX ecosystem continues to evolve, with dYdX Foundation supporting its growth. The transition aims to handle 1 billion transactions efficiently while offering more control to traders. As competition with platforms grows, dYdX aims to provide superior trading and staking options.
The dYdX exchange is a decentralized trading platform offering advanced financial products like perpetual contracts.
The dYdX ecosystem operates as a decentralized trading infrastructure with various components supporting derivatives trading.
dYdX stands out due to its decentralized structure and focus on perpetual trading.
dYdX operates as a decentralized exchange that allows traders to engage in derivatives trading with enhanced flexibility.
dYdX Unlimited is a trading platform that offers various benefits to its users through its native token, dYdX. One key feature is staking, where users can contribute to the platform’s security or liquidity. The Safety Pool allows users to stake dYdX and earn rewards, while the Liquidity Pool rewards those who provide USDC liquidity. Staking participants receive tokenized positions, which are burned upon withdrawal.
Governance is another aspect that makes dYdX unique, as token holders can propose and vote on protocol changes. Decisions include adjustments to staking rewards, risk parameters, and token listings. Each dYdX token carries proposing and voting power, enabling users to influence the platform’s future. This governance model mirrors those seen in other cryptocurrency projects.
dYdX Unlimited supports traders through overall trading incentives, such as trading rewards and liquidity provider rewards. Users who trade perpetual contracts on dYdX earn rewards based on their trading activity. Liquidity providers with a minimum maker volume of 5% per epoch receive dYdX tokens as incentives. These rewards are distributed every 28 days and continue for five years.
Holding dYdX tokens previously provided trading fee discounts based on the size of a user's holdings. However, with upcoming updates to the platform, these discounts will be phased out, and all traders will revert to standard fees starting September 29th. Instead, Hedgie holders will receive a fixed 3% discount, though holding multiple Hedgies will not increase the percentage. These changes aim to streamline the fee structure while maintaining benefits for engaged community members.
Since users are educated on DeFi and trading strategies, dYdX Unlimited provides resources to help them start trading on the platform. dYdX offers features like margin trading and advanced order types for professional traders. These tools allow users to optimize their trading experience while benefiting from the platform’s rewards and governance. The combination of staking, governance, and trading incentives makes dYdX unique in the decentralized finance space.
dYdX was founded in 2017 by Antonio Juliano, a former software engineer at Coinbase and Uber. The platform initially provided margin trading, lending, and borrowing services on Ethereum’s Layer 1 network. Juliano aimed to build an open-source, community-driven derivatives exchange where users had true ownership over their trades and, eventually, the exchange itself.
As dYdX grew, it encountered issues with Ethereum’s fluctuating gas fees, which increased as more users joined the platform. To address this, the project started transitioning to StarkWare’s Layer 2 scaling solution, StarkEx, in 2020. This shift allowed dYdX to handle more transactions while benefiting from reduced transfer costs.
In 2021, dYdX introduced its cross-margined perpetuals product on Layer 2, enhancing its offerings for traders. The platform expanded rapidly, launching multiple markets on the upgraded network. This development led to significant growth in trading activity, attracting more users to its ecosystem.
Later that year, dYdX Trading Inc. established the dYdX Foundation in Zug, Switzerland, to oversee governance and community initiatives. The foundation was responsible for deploying governance smart contracts and issuing the platform’s governance token. It also supported research, educational efforts, and community-driven projects to strengthen engagement.
By mid-2023, dYdX reached a major milestone by surpassing one trillion in total trading volume on its Layer 2 platform. The platform’s continued expansion demonstrated its ability to adapt to market challenges and technological advancements. With a focus on decentralization, dYdX remains committed to evolving within the crypto ecosystem.
dYdX Unlimited is the next phase of the exchange, offering enhanced features and full decentralization.
The future of dYdX revolves around complete decentralization and continuous improvements to trading efficiency.
dYdX employs a decentralized approach to trading, eliminating the need for a central authority.
dYdX (DYDX) can be stored on regulated platforms like Newton or in a personal wallet. Keeping track of circulating supply and market data can provide insight into its role within the broader cryptocurrency landscape.
Staking dYdX (DYDX) requires choosing a platform that offers staking services. After purchasing or transferring DYDX to the platform, tokens can be staked through a supported wallet, contributing to network functions. Stakers may receive DYDX tokens as rewards.
dYdX can be used for transactions where merchants accept cryptocurrency. As part of the dYdX ecosystem, it enables digital payments with fast processing times. Checking live market prices before using DYDX for transactions helps with value assessment.
The dYdX network allows for quick transfers across its blockchain. Sending DYDX involves entering the recipient’s wallet address, with transactions processed efficiently and typically at low fees.
Certain organizations accept dYdX (DYDX) as a donation method, offering a direct way to contribute using cryptocurrency. Sending DYDX to a recipient’s wallet address allows for seamless digital donations.
Exchanging dYdX (DYDX) for other cryptocurrencies, such as Bitcoin or Ethereum, can be done on regulated crypto platforms. These platforms support the swapping of DYDX for various digital assets, allowing users to adjust their cryptocurrency holdings.
*Newton does not currently support staking, governance, interest-earning, or other utility functions, where applicable, for this asset.
Obtaining dYdX (DYDX) through private transactions or unregulated sources comes with certain challenges. Without a regulated system in place, confirming the legitimacy of the seller can be difficult, increasing the chance of encountering fraud or misleading practices. The absence of oversight in these transactions is something to carefully evaluate before proceeding.
Using a regulated platform like Newton offers an organized way to buy dYdX (DYDX). Payment methods such as e-Transfers and wire transfers provide established options for completing transactions. Features like real-time price monitoring, market insights, and access to 70+ cryptocurrencies can help users make informed trading choices.
Newton provides up-to-the-minute pricing for dYdX (DYDX), enabling users to follow market shifts as they occur. Buying and selling rates are displayed before transactions, offering insight into real-time market trends.
Newton incorporates multiple security features to help protect user accounts and digital assets. Multi-factor authentication, login activity tracking, and anti-phishing codes contribute to account security. Users can also manage trusted devices for additional control.
Newton makes it affordable to buy and sell dYdX, with a 1.50% - 1.60% fee. For more information about fees, see our Prices page. Newton covers up to $5 of network fees on your first daily withdrawal. For additional withdrawals, or if network fees exceed $5, the estimated network fee is confirmed prior to withdrawal.
Newton can be accessed on both desktop and mobile, making it convenient to monitor DYDX holdings from different locations. The platform adapts to various screen sizes, allowing users to manage their assets on the go.
Newton’s interface is structured for easy navigation, allowing users to monitor DYDX prices and manage trades efficiently. The platform offers a streamlined experience for checking balances, tracking market activity, and reviewing transactions.
As a Canadian cryptocurrency platform, Newton supports DYDX along with a broad selection of digital assets. The platform provides trading access across the country while operating in line with Canadian regulations.
Opening an account on Newton is the first step to trading dYdX (DYDX). This process includes signing up and verifying your identity, allowing access to the platform’s trading features.
Before purchasing DYDX, funds need to be deposited into your account. Options like Interac e-Transfer and wire transfer provide convenient ways to add CAD. Newton’s interface is designed to make the deposit process straightforward.
With funds available in your account, DYDX can be bought directly on the platform. A live price chart displays real-time market data, helping you decide when to execute a trade.
DYDX is listed among various cryptocurrencies on Newton. It can be found in the platform’s asset selection, which also includes Bitcoin, Ethereum, and other digital assets.
Specify the amount of DYDX you want to purchase by entering either a token quantity or its CAD equivalent. The platform offers flexibility to adjust your order based on your trading strategy.
Before completing the transaction, review all details for accuracy. Once confirmed, DYDX will be added to your account, where it can be held, traded, or transferred as needed.
A personal wallet gives you full custody of your dYdX (DYDX) tokens. Access is protected by private keys, which remain solely in your possession, meaning no third party can manage your assets. However, losing private keys could make recovery impossible, so secure storage is essential.
DYDX can also be stored within a Newton account, which includes built-in security features. These may include multi-factor authentication, login activity tracking, and trusted device management. Additional protections, such as anti-phishing measures, help users monitor and safeguard their accounts.
Your security is important. Newton is committed to being a leader in compliance, security, and technical protocols.
For additional information and to review the risks associated with dYdX, please see our Asset Statement.
