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DYDX Price   

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DYDX

dYdX  

#DYDX

DYDX Price:
$1.99
Volume:
$0.1 B
All Time High:
$27.90
Market Cap:
$0.3 B


Circulating Supply:
166,119,690
Exchanges:
50
Total Supply:
1,000,000,000
Markets:
68
Max Supply:
Pairs:
45



  DYDX PRICE


The price of #DYDX today is $1.99 USD.

The lowest DYDX price for this period was $0, the highest was $1.99, and the exact current price of one DYDX crypto coin is $1.98899.

The all-time high DYDX coin price was $27.90.

Use our custom price calculator to see the hypothetical price of DYDX with market cap of SOL or other crypto coins.


  DYDX OVERVIEW


The code for dYdX is also #DYDX.

dYdX is 2.7 years old.


  DYDX MARKET CAP


The current market capitalization for dYdX is $330,410,440.

dYdX is ranked #187 out of all coins, by market cap (and other factors).


  DYDX VOLUME


The trading volume is very large during the past 24 hours for #DYDX.

Today's 24-hour trading volume across all exchanges for dYdX is $121,418,539.


  DYDX SUPPLY


The circulating supply of DYDX is 166,119,690 coins, which is 17% of the total coin supply.


  DYDX BLOCKCHAIN


DYDX is a token on the Cosmos blockchain.


  DYDX EXCHANGES


DYDX is integrated with many pairings with other cryptocurrencies and is listed on at least 50 crypto exchanges.

View #DYDX trading pairs and crypto exchanges that currently support #DYDX purchase.


  DYDX RESOURCES


Websitedydx.exchange
Whitepaperwhitepaper.dydx.exchange
Twitterdydxprotocol
Redditr/dydxprotocol
Telegramdydxofficial
DiscordTuze6tY
Mediumdydxderivatives


  DYDX DEVELOPER NEWS



dYdX Closes $10M Series B Investment

We're excited to announce that dYdX has raised a $10M Series B round led by Three Arrows Capital and DeFiance Capital! We welcome new investors: Wintermute, Hashed, GSR, SCP, Scalar Capital, Spartan Group, and RockTree Capital. Additionally we're grateful for the continued support from a16z, Polychain Capital, Kindred Ventures, 1confirmation, Elad Gil, Fred Ehrsam, and other existing investors who participated in this or past rounds. This is an important milestone for the dYdX team. Perpetuals trading is an exciting use case for blockchain technology and we're thrilled to be building a core component of the decentralized financial ecosystem. dYdX's decentralized exchange infrastructure combines non-custodial, on-chain settlement with an off-chain low-latency matching engine with order books to deliver an institutional-grade, liquid, and low slippage trading experience for the decentralized finance world. Our products empower traders to better manage risk, more efficiently allocate capital, and express more complex opinions on price and volatility. 2020 was a year of records: Total cumulative trade volume across Perpetuals, Margin, and Spot trading increased 40x, reaching $2.5 billion in 2020, up from $63 million in 2019., Margin / Spot Trade Volume: $1.9 billion in 2020, up from $63 million in 2019., Perpetuals Volume Trade Volume: $563M since the new protocol was launched in April 2020., Volumes on our perpetual contracts gre...




dYdX - 2020 in Review

2020 was a huge year for dYdX! We built and launched our first protocol for Perpetual Contracts, saw many thousands of new traders use dYdX, and increased our trade volume by 40x. In the second half of 2020, we've been building a new product for Perpetual Contracts on Layer 2, powered by StarkWare's Zero Knowledge Rollups. 2020: a Year of Records Total cumulative trade volume across Spot, Margin, and Perpetuals increased 40x reaching $2.5 billion in 2020, up from $63 million in 2019., Over $1.9 billion in trade volume in Margin and Spot markets, and over $563 million in trade volume in Perpetual Contract markets since the new protocol was launched in April., Volumes on our Perpetual Contracts grew as a percentage of total volume, accounting for 41% of total trading volume in December., Over $17.4 billion in loans were originated from dYdX lending pools., Unique wallets depositing funds into dYdX's smart contracts increased by 4.8x from 8,000 to 38,588 wallets through December 31., We hired 6 new team members, across Design, Engineering, and Growth., These are important milestones for dYdX. Our decentralized exchange infrastructure combines non-custodial, on-chain settlement with an off-chain low-latency matching engine using order books. This allows us to deliver an institutional-grade, liquid, and low slippage trading experience for the DeFi world. Our products empower traders to better manage risk, more efficiently allocate...




How DeFi is Eating Traditional Finance

This article was originally posted on The Pomp Letter With the introduction of Bitcoin's genesis block, the world had its first truly decentralized financial application. Bitcoin enabled anyone in the world to store wealth without the need for a centralized party. That wealth could be taken and sent anywhere in the world, the only requirement was an internet connection. As the Bitcoin network grew in terms of number of holders and value transferred, developers began looking for ways to create more complex financial transactions. This was at odds with how the Bitcoin community viewed the tradeoffs between security and expressive financial applications, which created an unmet opportunity for a blockchain that could facilitate more complex financial contracts. When Ethereum launched, it aspired to be a world computer capable of powering an arbitrary number of applications through smart contracts. The ICO mania of 2017 reflected this vision, but Ethereum as a platform ultimately left much to be desired for most applications. Amidst all the noise, it became increasingly obvious that Ethereum was fertile ground for financial application experimentation. Ethereum drastically dropped the costs associated with a variety of financial transactions including capital formation, asset issuance (hence the ICO bubble), asset exchange, loan administration, collateral management, and much more. After the rubble of 2017 cleared, the Ethereum com...




LINK-USD Perpetual Contract Market is Live

We are excited to announce that the LINK-USD Perpetual Contract Market is now live. Traders can trade LINK with up to 8x leverage with no expiry. Our contracts have been audited by Open Zeppelin, and are fully open-sourced. To celebrate the launch, we are providing 50% off trading fees on the LINK-USD Perpetual for the next 7 days. Perpetual Markets on dYdX are not available in the United States. No actual Fiat USD is supported on dYdX.Why LINK? On a daily volume basis, LINK is the most traded token in all of DeFi. While demand is unquestionably high for LINK, we are just as excited about the underlying oracle ecosystem that Chainlink has built. As such, we are excited to share we are using Chainlink's LINK-USD Price Feed as the oracle source for this market. Given that Chainlink's ecosystem of data providers have proven to be extremely reliable, even in times of high volatility, we are confident that this oracle integration will perform extremely well. Contract Specification Details for the LINK–USD perpetual market are provided below. General information and examples can be found in the Perpetual Guide. Details on the protocol and decentralization can be found here. Perpetual type: Linear, Underlying market: LINK–USD, Margin/settlement asset: USDC, Tick size: $0.005 USD, Min order size: 15 LINK, Quantity step: 0.000001 LINK, Max order size: None, Max position size: None, Expiry: Perpetual (no expiration), ...




dYdX Chooses Chainlink as its Oracle Provider for New Market

We are excited to announce the launch of a new Perpetual Contract market for LINK-USD which uses Chainlink's LINK/USD Price Reference Data feed as a reference price to determine on-chain liquidations. After performing extensive due diligence, we selected Chainlink's LINK/USD price oracle because it provides the highest quality price data, delivered by the largest and most decentralized group of independently run, Sybil-resistant oracles. Our users can also monitor the real-time health of the oracle via Chainlink's various monitoring resources, in order to gain insights into the oracle network as a whole, or the individual nodes and their on-chain responses. With Chainlink already securing over $2B USD value within DeFi, we are confident that Chainlink's oracle infrastructure is capable of supporting our LINK-USD Perpetual Contract-both now, and well into the future-even under the most adverse market conditions. Chainlink's price reference model is especially critical for helping us secure assets in more thinly traded markets, which can be reliably mitigated by its high-quality aggregated data feeds.What's Next? We are working on launching additional Perpetual Contracts to our platform, with the goal of making dYdX the go-to platform for trading a variety of cryptoassets across Spot, Margin, and Perpetuals. We are also actively building a Layer 2 solution with StarkWare to be able to offer an even better experience for our trad...




Scaling dYdX with StarkWare

Partnering with StarkWare to scale decentralized trading dYdX is excited to announce a partnership with StarkWare. Our engineering teams are collaborating on a Layer 2 scaling solution for Perpetual Contracts, based on StarkWare's StarkEx scalability engine and dYdX's Perpetual smart contracts. Our Perpetual Contracts will be powered by StarkEx by the end of this year. To provide the best user experience for traders, we have decided to transition to Layer 2. Traders can expect significantly lower gas costs, and in turn, lower trading fees and minimum trade sizes. We remain committed to our mission of building open, secure, and powerful financial products. StarkWare is developing software to dramatically improve blockchain scalability by allowing any type of computation to move off-chain, using the Ethereum blockchain as a public immutable commitment layer. StarkWare's dYdX integration combines STARK proofs for data integrity with on-chain data availability to ensure a fully non-custodial protocol.What does this partnership mean for our traders?Significantly Reduced Gas & Trading Fees - Trades are submitted on-chain in ZK-Rollups, reducing the amount of gas required per-trade. We are able to pass on those savings to traders in the form of reduced trading fees across the board.Reduced Minimum Trade Sizes - Since there are smaller fees per-trade, we are able to offer smaller trade sizes, allowing traders to try out dYdX by st...




Comparing DeFi Token Models

IntroductionDeFi tokens have recently been far and away the best performing sector in the cryptocurrency markets. The primary reason they have seen such growth can be boiled down to a single factor: they accrue value. Most DeFi token models are designed in such a way where token holders benefit proportionally to network usage and growth. In fact, many of the most popular models operate similarly to traditional equity, in which holders value the asset based on the fees earned by the network as well as the ability to govern it. DeFi tokens also incorporate some form of incentive design to align the interests of the network with long term holders, staking being a popular example. While DeFi tokens have passed the initial value capture test, many of these models can be upgraded. Over time, more experiments will illuminate how to best capture value from a decentralized financial network through a token. The idea of using tokens to incentivize decentralized network growth isn't new. Fred Ehrsam's early blog post on the decentralized business model described how a token could be used to help solve the proverbial chicken and egg problem faced by networks and marketplaces. The problem with this early implementation was that there was no way to distinguish speculators from long term investors or users committed to the network. We saw this play out during the 2017 ICO bubble - tokens were sold off to speculators who quickly flipped them ...




ETH-USD Perpetual Contract Market is Live

After listening to our active trading community and evaluating the greater DeFi product landscape, we are pleased to announce that we have launched an ETH-USD Inverse Perpetual Contract Market.   To celebrate the launch, we are providing 50% off trading fees on the ETH-USD Perpetual for the next 7 days. Now, dYdX traders can trade ETH with increased leverage (up to 10x), while using ETH as collateral. Similarly to our BTC Perpetual, ETH-USD will have no expiry. Our contracts have been audited by Open Zeppelin and can be viewed here. Perpetual Markets on dYdX are not available in the United States. No actual Fiat USD is supported on dYdX.Why an Inverse Perpetual? An inverse perpetual contract is one that is quoted in USD but margined and settled in the base asset -- in this case ETH. The benefit of this type of contract is that users do not have to take on any stablecoin exposure, and can use ETH that they likely already hold to trade with. Traders can now obtain leveraged long or short exposure to ETH while using ETH as collateral and earning returns in ETH.  Why ETH? While ETH is the underpinning of the DeFi ecosystem, there are currently only a few simple ways to gain ETH leverage in both an efficient and decentralized manner. With our Perpetual, users can ensure that they remain in control of their ETH while gaining increased leverage and trading on the most liquid orderbooks in DeFi. Contract Specification Detail...




Trader Insights: Yield Farming

This is episode #02 of Trader Insights, a series on trends & strategies for trading cryptocurrency.A new way to build network effects and liquidity in crypto One of the earliest beliefs within the Ethereum community was that native tokens were an excellent way to bootstrap network effects. While the idea of early network users owning equity was powerful, the actual implementation was blown out of proportion during the 2017 ICO boom. During that time, token holders were much more focused on speculation than building the underlying network. More recently, decentralized finance protocols have been using new token incentives to drive liquidity and users to their platforms. Formally dubbed 'liquidity mining,' decentralized finance protocols have been designed to reward their users with native token that can be used as both a cash flow and governance asset. The first decentralized finance protocol to utilize liquidity mining was Synthetix. SNX holders that turned their sUSD into sETH and contributed to the Uniswap sETH pool were rewarded with more SNX. The experiment was successful - sETH became one of the most liquid assets on Uniswap. Compound's most recent COMP launch was the next protocol to launch liquidity mining, and based on early indications, it has been a massive success. When COMP first launched, the protocol had roughly $100 million USD in assets locked in the protocol. Now, the protocol boasts nearly $1 billion USD ...




Trader Spotlight: Andrew Kang

This is episode #02 of Trader Spotlight, a series on trading insights & strategies used by well-known cryptocurrency investors. On May 14th, we hosted a live AMA Spotlight with Andrew Kang. Andrew has a wealth of expertise in crypto through prop trading, venture investing, mining, and more. He has his hands in almost every corner of the crypto markets! In these AMA spotlights, our goal is to bring you the best insights and commentary from professional crypto traders, market makers, and leading industry experts! Below is a recap of the AMA with Andrew Kang.To get started, we'd love to hear a quick background about yourself. What got you into crypto, investing, and trading? When did you have the "aha" moment? Would love to hear your story. For crypto, my first real exposure was probably in 2013. It was around the point when Dogecoin first started and it was blowing up on Reddit which I frequented. The fervor around Dogecoin was real and what was interesting was that a "Dogecoinmarkets" subreddit where people bought Dogecoin OTC also emerged. The thing was that people were bidding 2x-3x over market price since most didn't have access to coinbase/onramps. I didn't either at the time, and Coinbase applications were taking days/weeks to approve + long banking transfers, so what I did was find a sketchy website that accepted credit cards + instant BTC purchases to start arbitraging the Dogecoin BTC m...




  DYDX NEWS


Anchorage Digital Adds Support for Native DYDX Staking

    [PRESS RELEASE - Zug, Switzerland, May 15th, 2024] Institutional crypto platform Anchorage Digital has announced support for native DYDX staking. Now, institutions can stake DYDX from safe and secure custody at Anchorage Digital and earn staking rewards distributed by the protocol in USDC. As home to the only federally chartered digital asset bank, Anchorage Digital provides crypto custody, staking, and other services for some of the top names in traditional and decentralized finance. As the partner of choice for crypto innovators, Anchorage Digital has supported ethDYDX custody since mainnet launch in August 2021 and native DYDX custody since the launch of the dYdX Chain in Q4 last year. The expansion into staking support marks a major step forward in advancing safe and secure institutional participation in the dYdX ecosystem. “For many institutions, custody is just the start. Increasingly, institutions want to engage in staking, earn rewards, and contribute to the long-term scaling of innovative networks like dYdX. By adding staking support for its native token, DYDX, Anchorage Digital is proud to help unlock a new era of institutional participation in the dYdX ecosystem.” — Nathan McCauley, CEO and Co-Founder of Anchorage Digital Anchorage Digital supports hundreds of top assets, which are selected on the basis of institutional demand and must meet rigorous quality and safety standards. Clients can easily stake DYDX to earn staking rewards, with both the ... read More



dYdX Trading Inc Founder Antonio Juliano Steps Down As CEO, Token Takes ...

    Antonio Juliano, the founder of dYdX Trading Inc., has announced his decision to 'step down' as Chief Executive Officer (CEO), citing a mix of 'personal and professional reasons.' This move marks a significant change for the company behind the decentralized derivatives exchange dYdX. Juliano will transition to the roles of Chairman and President, with Ivo Crnkovic-Rubsamen set to take over as CEO. Juliano Reflects On His Tenure And The Evolution Of dYdX Juliano's tenure as CEO saw dYdX grow into a prominent player in the decentralized finance (DeFi) sector, especially in derivatives trading. Reflecting on his journey since the dYdX whitepaper in 2017, Juliano shared in the announcement that moments of 'overwhelming' pressure made him consider stepping aside. Juliano noted: For my own part in this journey, I too have come far. I feel as though I've been gifted (and endured) a lifetime's worth of adventure and growth since solo founding dYdX at 24. Chris Dixon once told me 'founding is an emotional challenge disguised as an intellectual one'. I have now lived this, and know it to be true. dYdX has given me the rollercoaster of intense experiences from ibar, to excitement, to elation, to desolation. There have been times, many of them, when l've felt so overwhelmed I wanted to leave. Notably, Juliano's decision to change roles, as highlighted in the announcement, comes from a place of 'personal satisfaction' and the 'realization' that while he is irreplaceable as the founder, t... read More



Here's How Much DYDX Has Evolved Since its Launch

    DYDX, the native token of the dYdX Chain, has evolved from a governance-only coin to a dynamic, multifaceted asset within six months of its launch. According to a blog post by the dYdX Foundation, DYDX has become the powerhouse of the layer-1 blockchain, enabling decentralized governance and allowing users to stake their tokens for rewards. A Timeline of DYDX’s Launch DYDX was launched in October 2023 alongside the dYdX Chain. Before that, the dYdX Foundation had launched DYDX (now ethDYDX) in August 2021. ethDYDX serves as a governance token for the Ethereum-based layer-2 protocol dYdX v3. In September 2023, the dYdX community voted to adopt DYDX as the native token of the dYdX Chain. To this effect, a wethDYDX smart contract was deployed to serve as a bridge for token holders to convert their ethDYDX to DYDX. At the time of writing, more than 75% of all ethDYDX have been converted to DYDX and migrated to the dYdX Chain. With 25% left, the circulating supply of ethDYDX now sits at roughly 247 million. Staking DYDX dYdX Chain was designed with a staking reward mechanism that distributes 100% of the protocol’s fees, paid predominantly in Circle (USDC), to stakers. “This mechanism not only incentivizes the provision of security but also opens up various practical use cases for Stakers. Specifically, they can reinvest their USDC staking rewards into crypto or other assets or use the USDC as collateral for trading on the dYdX Chain with just a few clicks,”... read More



dYdX Community Approves 20 Million Token Stake Amidst Rising Trading Vol...

    In an effort to protect its decentralized crypto exchange (DEX) against potential security threats, the dYdX community has approved a proposal to stake 20 million DYDX tokens. This decision comes amidst a surge in trading activity experienced by the platform. dYdX Proposes Enhanced Security Measures The proposal presented by dYdX emphasized the necessity of increasing the platform's security measures in the face of increasing deposits and trading volumes. dYdX stated that it has a total value locked (TVL) of approximately $140 million on the dYdX Chain, with over 114 million DYDX tokens staked, valued at approximately $456 million at the market price of $4. The proposal stated that despite this staking activity, the rate at which DYDX was being staked to validators had reached a plateau. Additionally, dYdX mentioned that more than $140 million USDC is currently held in dYdX v4, with approximately $100 million of that amount arriving in the week leading up to the proposal. The team also anticipated that this growth will continue, given the increased popularity of dYdX v4 and the recent volatility that has been increasing trading volumes. 'As deposits grow, the incentive for malicious activity increases with it. Ideally, this would be matched with increasing economic security to outweigh malicious incentives,' stated the proposal. Staking native tokens is one way of protecting the network against potential 51% assault-style control attempts. This defensive strategy prevents the... read More



Slash Fintech and dYdX Japan Launch Joint Marketing Event to Expand in t...

    [PRESS RELEASE - Tokyo, Japan, April 7th, 2024] Decentralized payment protocol Slash has announced the launch of a joint marketing event with perp DEX platform dYdX Japan. Aimed at fostering business development in the Asian market, the campaign will run from April 3 until April 17. The campaign offers an exciting opportunity for participants to win exclusive dYdX branded swag. Five lucky winners will be selected by lottery from Campaign OAT (On-chain Achievement Token) holders, with the lottery results announced from each participant’s X account after the campaign has concluded on April 17. Lucky winners will receive a free dYdX swag code, with shipping scheduled from late April to early May. To participate in this unique campaign, users are required to follow a few simple steps: • Follow @dYdXJapan, @dYdXChinese, and @SlashWeb3 on X. • Join the official Slash Discord and say “Hi Alice” in the Hi Alice channel. • Like and retweet Slash’s collaboration campaign tweet. • Claim collaboration OAT at the following link: https://galxe.com/slash/campaign/GC4g5tTCaa The joint marketing endeavor between Slash and dYdX Japan is more than just a promotional campaign; it represents the convergence of DeFi and mainstream commerce, paving the way for broader adoption and understanding of cryptocurrency in everyday transactions. About Slash Slash is a decentralized payment protocol that connects to third-party financial dApps and automates toke... read More



Osmosis, dYdX, Synthetix Spearhead DeFi Development Surge, Uniswap Trail...

    Amidst a broader market rebound, several DeFi-related projects appear to be bustling with development activity. Topping the list is Cosmos-based decentralized exchange Osmosis, which experienced a notable surge in development activity, emerging as the leading DeFi project over the past month. Osmosis Leads DeFi Development According to the data shared by Santiment, Osmosis recorded more than 169 GitHub commits within the previous 30 days. The crypto analytic platform's latest compilation of 'developer activity' was based on aggregating all unique GitHub activity documented in the records of each project and then calculating the average number of these actions to provide a comprehensive overview. Osmosis underwent a significant rebound in terms of total value locked in November 2023. Data from DeFiLlama revealed that Osmosis surged by over 239% in a span of just four months from $73.43 million to the press time TVL of $245.81 million. The major part of the increase in activity largely stems from increased interest in airdrop farming on infrastructure associated with Cosmos across the broader digital assets sector, with Osmosis emerging as the worthy DEX on the network. Here are #crypto's top #DeFi related coins by development frequency. This list is compiled by counting any non-redundant #github activity, and averaging this daily activity over the past 30 days. #Osmosis currently leads the Decentralized Finance factor in this category: 1… pic.twitter.com/HfcdqBZS... read More



dYdX Overtakes Uniswap in Daily Transaction Volumes

    Decentralized exchange (DEX) dYdX has made headlines by surpassing Uniswap, a long-standing leader in the sector, to become the platform with the largest 24-hour trading volume. This achievement is particularly significant following dYdX's strategic migration from the Ethereum blockchain to the Cosmos ecosystem. dYdX Surpasses Uniswap Following Cosmos Transition dYdX, a crypto derivatives platform, announced its decision to transition from an Ethereum-based layer-2 network to its stand-alone blockchain within the Cosmos ecosystem as part of its version 4 (v4) upgrade. This move was aimed at optimizing decentralization and trading flow. We’re excited to announce that dYdX V4 will be developed as a standalone Cosmos-based blockchain! https://t.co/zQzZMIpzWO — dYdX (@dYdX) June 22, 2022 Despite Ethereum's substantial user base and higher transaction costs, dYdX migrated to Cosmos, and recent trading data indicates a successful outcome. dYdX's v4 has achieved a 24-hour trading volume of $757 million, surpassing Uniswap v3, which recorded $608 million, per CoinMarketCap data. Meanwhile, the DEX's v3 market on Ethereum, which is still operational, registered $567 million in the same period, securing a third-place position. Since the launch of dYdX v4, the cumulative trade volume has reached $17.8 billion. This follows a strong performance in 2023 when the DEX's v3 market on Ethereum surpassed $1 trillion in trading volume, with several days exceeding $2 bill... read More



dYdX Founder Skeptical Of Current Bull Run, Cites Low Participation

    Taking to X on January 5, Antonio Juliano, the founder of dYdX, a decentralized exchange (DEX), expressed skepticism regarding the current crypto bull run. Juliano attributed the recent price surge to 'light trading volumes.' This formation might, despite the overall confidence, not sustain the uptrend. Founder: This Bull Run Is Different, Participation Is Low Juliano asserted that a true bull cycle is not defined solely by price action but by participation and community enthusiasm. The founder continued that this 'does not seem to be happening yet.' The founder attributed the lack of widespread adoption to the absence of 'groundbreaking' products that have captured the attention of a 'broader' audience. However, releasing these 'products' to the market could revive activity, driving crypto trading volume.  Juliano's comments come ahead of the potential approval of the first spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Among several applicants are Fidelity, Grayscale, and BlackRock. Insiders claim the agency could approve the first product in the coming days.  A spot Bitcoin ETF may open the floodgates to institutional investors, allowing them to gain exposure to the Bitcoin and crypto market in a regulated manner. As it is currently structured, willing institutions regulated by the SEC can only get exposure through Grayscale's products, including the GBTC. Along the same line, some commentators have speculated that ... read More



dYdX To Unlock $478M Worth Of Tokens, Will Bears Have A Field Day?

    On December 1, dYdX, the layer-2 decentralized exchange, will unlock 150 million DYDX worth roughly $478 million to early investors and core team members. This substantial unlock has raised concerns among investors, who fear the influx of fresh tokens could substantially increase supply. If this is not matched by high demand, DYDX prices will likely pull back, reversing recent gains posted over the past few trading weeks.  DYDX Worth $500 Million To Hit The Market According to Bubblemaps data, out of the $478 million worth of DYDX, over 50% is allocated to venture capitalists (VCs), including Paradigm and Polychain. Zooming back and looking at their data, VCs seeded $100 million to the layer-2 decentralized exchange. These tokens were distributed to private investors through five wallets, including Coinbase Custody, Investor Distribution, and the Foundation Wallet. Currently trading at over $3, DYDX is at February 2023 levels and technically bullish. However, the upcoming token unlock casts a shadow over the token's positive momentum. Notably, dYdX, postponed its token unlock by ten months. According to data, the humongous DYDX unlock was initially postponed from February to December 2023. Following this move, DYDX prices edged higher. Even so, prices pulled back before consolidating in the better part of Q2, Q3, and early Q4 2023. There was a pronounced rally in late October 2023 as DYDX rose, riding the optimism across the crypto board. At spot rat... read More



dYdX Bans 'Highly Profitable Trading Strategies' After Targeted Trades o...

    On the 17th of November, an unknown individual who may have been working as part of a team targeted the dYdX exchange and its YFI token. Allegedly, the same actor had previously tried a similar strategy on the exchange’s SUSHI market merely 2 weeks prior. Good Trades Or Malicious Intent? These trades, which the platform’s staff have classified as an attack, were done using a series of transactions that ultimately caused open interest on the exchange to surge by over $66 million and resulted in $9 million of its insurance fund being burned in order to keep it afloat. Thankfully, no user funds were affected by the trade. “Last night about $9m from the dYdX v3 insurance fund were used to fill gaps on liquidations processed in the YFI market. The v3 insurance fund remains well funded with $13.5m in funds remaining. No user funds were affected and our team is working to investigate the event.” However, stopgap measures have since been implemented to prevent further attacks. Until further notice, initial margin requirements for trades of “less liquid” tokens will increase. As an immediate measure, we have increased initial margin requirements for less liquid markets:$EOS, $ZRX, $AAVE, $ALGO, $ICP, $XMR, $XTZ, $ZEC, $SUSHI, $RUNE, $SNX, $ENJ, $1INCH, $CELO, $YFI, $UMA, $SUSHI We will continue to monitor, but believe this to be an important first… — dYdX (@dYdX) November 18, 2023 Meanwhile, the search for the person – or team b... read More



The Reason DYDX Price Exploded 25% Today

    TL;DR DYDX Price Increase: DYDX, the dYdX chain's cryptocurrency, rose by 25% in 24 hours, reaching over $4 and marking an 18-month high, with a 110% increase in the past month. Influencing Factors: The growth is aligned with the overall bullish trend in the crypto market, influenced by factors like potential BTC ETFs in the US and decreasing inflation. Impact of Upcoming Token Unlock: An impending token unlock on November 28, releasing 2.16 million DYDX tokens, could significantly affect its price and market dynamics, possibly leading to enhanced volatility. DYDX, the native cryptocurrency of the dYdX chain, has spiked by approximately 25% for the past 24 hours, briefly surpassing the $4 mark. In the following lines, we will outline the main factors that contributed to reaching the 18-month high, and the impressive gains charted in the past month. DYDX has exploded by over 110% in the last 30 days, possibly triggered by the bullish sentiment in the entire digital asset market.  Recall that leading cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), have also soared substantially on the background of high hopes that a spot BTC ETF could soon see the light of day in America, plunging inflation in the States, and other reasons. The most recent uptrend of DYDX, which defies the prevailing red wave in the crypto market today (November 15), might be bolstered by a large token unlock that might see the light of day in the next two weeks. According to Token Unlocks, ... read More



The dYdX Chain has Launched – Bridging and Staking Now Available

    [PRESS RELEASE - Zug, Switzerland, October 31st, 2023] The dYdX Foundation is pleased to announce the open-sourcing of software for a Bridge User Interface that, if deployed, could facilitate the conversion by users of ethDYDX to DYDX, the layer 1 (L1) token of the dYdX Chain. Three significant developments have happened in the dYdX Ecosystem recently: October 24, 2023 – dYdX Trading Inc. announced the release of the dYdX Chain open-source software. October 26, 2023 – The dYdX Operations subDAO announced that the mainnet genesis of the dYdX Chain occurred with Genesis Validators participating in the creation of the first block of the dYdX Chain. October 30, 2023 - The dYdX Operations subDAO announced that a Bridge User Interface has been deployed and made publicly available. Following the mainnet genesis of the dYdX Chain and the open sourcing of the Bridge User Interface software, the dYdX Operations subDAO has announced that a Bridge User Interface has been deployed and made publicly available. This development allows users to bridge their DYDX tokens from Ethereum to the dYdX Chain, thus enabling expanded utility for the DYDX token. To convert ethDYDX into dYdX Chain DYDX you can visit bridge.dydx.trade and/or use the bridging guide available here. A Staking guide should be published in the coming days. In a recent blog published by the dYdX Operations subDAO, three phases of dYdX Chain Genesis were highlighted: Pre Genesis, Genesis, and Post-Genesis. Current... read More



Dydx Chain Unveils Network Fee Distribution and USDC Trading Fee Allocat...

    The Dydx chain, a proof-of-stake blockchain network, has successfully launched its mainnet and introduced dydx as its layer one (L1) token. On October 26, at 1 p.m. EDT, the network’s validators created the first block, signifying the start of a new era for the Dydx chain. The introduction of dydx as the L1 token brings with it enhanced utility, including the distribution of network fees to validators and stakers, and the allocation of trading fees to stakers in the USDC stablecoin.Dydx Chain’s Mainnet Goes Live, Introducing Dydx as Integral L1 Token Located in Zug, Switzerland, the Dydx Foundation oversees the Dydx chain, ensuring a secure and efficient operation of the network. Utilizing the Cosmos SDK and leveraging CometBFT for consensus, the Dydx network requires validators to stake its native tokens, contributing to the network's security and governance. The development team’s announcement sent to Bitcoin.com News details that the L1 protocol token is pivotal in upholding the integrity and functionality of the blockchain. The distribution of network fees on the Dydx chain is designed to incentivize participation and investment in the network. Validators and stakers are rewarded with a share of the protocol fees, acknowledging a crucial role in maintaining network security and stability. This mechanism aims to ensure a fair and transparent distribution of rewards, aligning the interests of all parties involved. A unique aspect of the Dydx chain's fee s... read More



Ahead Of V4, dYdX Open-Source Code: Bull Run Incoming?

    In what is seen to be a monumental move, dYdX, a layer-2 decentralized exchange (DEX), is open-sourcing its code as the platform prepares to implement v4. The exchange has a total value locked (TVL) of over $353 million, according to DeFiLlama. dYdX Open-Sourcing Code Ahead Of V4 According to an X post on October 24, dYdX plans to eventually operate on its standalone blockchain on Cosmos, migrating from being a layer-2 exchange reliant on Ethereum for security. The standalone blockchain, dYdX Chain, will be built using the Cosmos software developer kit (SDK) and powered by the Tendermint proof-of-stake consensus algorithm. In blockchain, projects often open source their code, allowing the public to scrutinize how smart contracts operate. By going public, the protocol is helping to build trust with users and community members, boosting security and increasing decentralization. This is especially important because the DEX handles sensitive financial data to facilitate trustless trading for all users.  Antonio Juliano, the founder of dYdX, has already said the exchange developer, dYdX Trading Inc., is updating its charter to become a Public Benefit Corporation. The exchange developers will work on an open project without benefiting. Though the platform will remain a for-profit company as a Public Benefit Corporation (PBC), the founder and the board will 'not solely act to maximize shareholder value but act in the public benefit.' Still, the layer-2 protocol has ... read More



dYdX v4 Enables 1-Click Onboarding With Squid and Axelar

    [PRESS RELEASE - New York, USA, September 20th, 2023] As dYdX is adopting a standalone app-chain model, a pioneering interoperability solution enables 1-click onboarding from any blockchain environment Decentralized financial derivatives marketplace dYdX has implemented a solution built on cross-chain infrastructure provided by Axelar, the leading Web3 interoperability platform, to support single-click onboarding and offboarding to dYdX v4. The implementation will utilize Squid, a single-click cross-chain transaction builder that supports cross-chain swaps in under 20 seconds, built on Axelar's decentralized interoperability infrastructure. Join Axelar, dYdX & Squid in a live AMA this Thursday at 4pm UTC to learn more  Long a pioneer in adopting next-generation blockchain architectures to support specific product outcomes, dYdX adopted Starkware’s rollup technology before L2s were in vogue, and with dYdX V4 they are adopting a standalone app-chain model. Derivatives exchanges are by nature high-leverage and high-risk places of trade, and a maximally decentralized approach to the entire market structure is needed to ensure constant up-time and safety from manipulation. In brief, dYdX has implemented Squid’s API to support single-click onboarding and offboarding to their app-chain from any of Squid’s supported chains or rollups. Users will also be able to deposit from other exchanges, i.e. centralized exchanges, to directly onboard onto dYdX’s chain... read More



dYdX Foundation Releases Semi-Annual Report, Reveals Ecosystem Growth in...

    The dYdX Foundation, a non-profit organization behind the decentralized crypto exchange dYdX, has released its semi-annual report detailing its ecosystem growth and milestones reached in 2023. According to the report, the foundation fostered the development of the dYdX protocol and grew the community in preparation for the release of the v4 open-source software – the dYdX Chain. The Journey So Far in 2023 The foundation said the regulatory challenges of the crypto industry, corporate failures, and the aftermath of the crypto exchange FTX bankruptcy highlighted the role of decentralized finance with a focus on self-custody, transparency, and eliminating intermediaries. Since dYdX announced its plans to become a fully decentralized protocol in January 2022, the exchange has released updates on achieving four out of five milestones and launched a public testnet. The testnet has over 57 validators, a block time of roughly 1.8 seconds, and has facilitated more than 2.9 million transactions. Last month, the foundation disclosed the potential migration of the protocol’s native token, DYDX, from Ethereum to the about-to-be-launched dYdX Chain. After the announcement, a community member launched a snapshot vote to migrate DYDX to the new chain and adopt the dYdX v4 open-source software as the next version of the dYdX protocol. The community passed the vote with near unanimous support. The mainnet launch of the dYdX Chain has been scheduled for the end of September. By the ... read More



DYDX Is Up By 11% In A Week, But Investors Must Watch Out For This Event

    DYDX, the native token of a decentralized exchange (DEX) with the same name, has been on a good run in the past few days. According to CoinGecko data, the cryptocurrency’s price jumped by 10.7% in the past week, reflecting a positive performance after an unfavorable start to August. However, there has been rising concern that this spurt of bullish momentum may be short-lived. And the upcoming token unlock event is the primary source of this skepticism. dYdX To Unlock $13.8 Million Worth Of Token In Single Event Token unlock events are not a strange phenomenon in the cryptocurrency space, as many blockchain networks and decentralized finance (DeFi) protocols have a portion of their token supply locked - to be released periodically. DYDX is one of those tokens with a locked supply and its next token unlock event is happening on Tuesday, August 29. In the latest iteration, the decentralized exchange will unlock $13.82 million worth of its native token to be distributed to its community treasury and rewards for liquidity providers and traders, according to data from Token Unlocks. The token tracking dashboard shows that the DEX will release 6.52 million DYDX tokens, which accounts for 3.76% of the token’s current circulating supply.  Breaking this figure down, 2.49 million tokens - equivalent to $5.279 million at the current market price  - will be allocated to the community treasury, which funds contributor grants, community initiatives, liquidity mining, ... read More



Here is How dYdX Chain Validators and Stakers Will Keep the Ecosystem Un...

    dYdX Foundation - the non-profit organization behind the popular decentralized exchange (DEX) DYDX - announced some requirements that chain validators and stakers must comply with to ensure maximum user protection. Good practices are organized into six categories: Maximal Extractable Value (MEV), operations and security, performance, transparency, governance participation, and dYdX ecosystem consideration. According to a recent blog post shared by dYdX Foundation, chain validators should not engage in MEV activities or advantage any trading parties over others. 'We expect that the dYdX community will take steps to disincentivize and punish bad actors who engage in MEV activities. As such, a delegator should consider that they may be impacted if they are delegating to a validator engaging in MEV,' the team behind the entity stated. Validators should maintain high uptime, ensure their node is online, and keep mempools across the network more consistent 'to provide a better user experience for traders.' Erratic behavior or misleading practices will not be tolerated. Chain validators should minimize slashing risk by monitoring their nodes' performance. 'It's inadvisable to use 'sentries' given increased latency, but instead opt for a threshold signer,' the team added. Other security practices include properly storing signing keys (they should be backed up in a separate location), implementing a system for alerting critical issues, participating in dYdX chain testnets, and opera... read More



Wall Street Traders Are Using DeFi: Interview With dYdX Foundation's VP ...

    Between the mismanagement, opacity, and regulatory attacks on centralized exchanges, crypto users are growing more incentivized to transition into decentralized finance (DeFi). While plagued by a host of its own issues (hacks, thefts, market manipulation, etc.), DeFi allows market participants to conduct trade on a peer-to-peer basis using purely transparent smart contract code. As the sector develops, not only does user experience improve, but the number of products offered rises to meet those of traditional finance. At EthCC Paris in July, CryptoPotato sat down with David Gogel, VP of Strategy and Operations at the dYdX Foundation. dYdX is one of the largest decentralized exchanges available today and draws the largest trading volumes for perpetual swaps than compared to other decentralized marketplace. Gogel shares what he sees as the most exciting developments for dYdX going forwards, how Wall Street traders are already using the protocol, and the most likely way of onboarding new users to the ecosystem. But first, let’s clarify where the name comes from. For many, the term 'dYdX' might raise eyebrows, but as Gogel explains, it's all about derivatives. 'dYdX is the math term for derivatives, so it just means derivatives. We've heard every pronunciation you can think of, and every capitalization like big D, small Y, dye-dix or did-ix, but it's pronounced D Y D X,' Gogel clarified. A Shift from Wall Street to Crypto With a Wall Street background, Gogel has been a pro... read More



DYDX Announces New Date for Its Cosmos-Based Public Testnet

    DYDX Foundation, the non-profit organization behind the popular decentralized exchange (DEX) DYDX, has announced a new launch date for the public testnet of its Cosmos-based blockchain as it prepares to exit the Ethereum ecosystem later this year. According to the foundation, the testnet is set to go live next week on July 5, which is earlier than the previous schedule. The team estimated in March that the public testnet would launch by the end of July after the third milestone (private testnet). DYDX Announces Public Testnet The upcoming release is the fourth phase of DYDX's five-stage milestones to test its Cosmos-based blockchain before the full release of the mainnet. During the private testnet, the team made several improvements to the network, including enabling documentation for market makers and validators, limit orders, dynamic funding rates, and ABCI 2.0 and other features of Cosmos-SDK. The public testnet will allow users to test and explore more features, including accessing order books, account balances, order history, and market data. It will also include many validators running the network's software. Although the upcoming testnet will initially support only Bitcoin and Ethereum markets, the project plans to expand the network to include at least 30 markets in the future. 'We are happy to announce that we completed Milestone 4 ahead of schedule! Our public testnet is set to go live on July 5 at 17:00 UTC. This public testnet will launch with Bitcoin and Ethereu... read More



dYdX Extends 156 Million Token Lock-up Period by 10 Months

    Decentralized cryptocurrency exchange dYdX has postponed plans to unlock nearly $300 million worth of dYdX tokens for investors, extending the lockup period from February until December.  Since the news broke, DYDX has surged by 24% on the day.  Extending the Lock-up Period As announced by dYdX on Wednesday, the dYdX foundation, dYdX trading, and parties to the warrants for purchasing DYDX tokens signed an amendment to extend the transfer restriction schedule of said tokens. This included postponing their initial release date from February 3 to December 1. “The warrant amendment mentioned above does not alter the staggered unlock that occurs after the initial unlock date,” the foundation clarified. The dYdX foundation is a Swiss non-profit formed to bolster the growth of dYdX’s protocol ecosystem and communities. The protocol itself is governed by holders of DYDX – a governance token that simultaneously offers rewards to holders through token staking and trading fee discounts.  At present, only about 15% of DYDX’s total 1 billion token supply has entered circulation. The token’s initial allocation in August 2021 was partially reserved for investors in dYdX Trading, as well as the company’s present/future employees, founders, and consultants. Going forward, the next token unlock will include a 30% unlock on December 1, followed by a 40% unlock spread between the first 6 months of 2024.  The first day of each month f... read More



dYdX Could be Among Largest Beneficiaries From FTX Collapse: Report

    The unforgivable mishandling of customer funds has left millions of users with trapped funds, crippled years of constructive industry reputation, and triggered new credit contagion risks. Amidst this chaos, the native token of the decentralized crypto derivatives exchange, dYdX, has risen by more than 50% over the past week. According to prominent crypto analytic firm, Santiment, DYDX has a chance to become a strong narrative in the coming weeks. Aiding the price appreciation is the accumulation of addresses holding between 1,000 to 10,000 DYDX surging to an 11-month high. Data suggest that this cohort of investors has been piling up tokens since late September this year. More interestingly, accumulation by the investors gained traction during the first week of November, around the same time FTX was embroiled in insolvency. 'They were able to do a great job, adjusting their position at the right time. Having strong nerves, they sometimes buy during a crash. They seem to be knowing what they doing so far.' The tumbling of a great centralized crypto empire highlighted the need for decentralized infrastructures that not only offer users exposure to crypto assets but, more crucially - ownership. The latest data of mid-tier holders accumulating DYDX may not necessarily mean the departure of investors from centralized crypto exchanges, but it does depict a greater reliance on DeFi structures. Despite the shockwaves from the collapse, trading volumes on decentralized exchanges (D... read More



dYdX Confirms Blocking Accounts Linked to Tornado Cash

    Just days after the US Office of Foreign Assets Control (OFAC) barred American citizens from transacting with Tornado Cash, dYdX has revealed blocking accounts that had previously engaged with the coin mixer. To comply with the new sanctions set by the OFAC, dYdX observed a significant increase in accounts flagged by one of its compliance vendors that were subsequently blocked. It cited that a certain portion of the funds in these account wallets had, in some way, interacted with Tornado Cash. dYdX's Response In its official blog post, dYdX maintained that the platform cannot seize customer funds. The ultimate custody of finds will remain at the hands of the users, who are free to withdraw at any given point. However, dYdX does have the ability to deploy their accounts in 'close-only' mode on its hosted matching engine. It also clarified that many account holders that were banned in the process may have never even directly engaged with the now sanctioned coin mixing solution. dYdX has tweaked its compliance policies and unblocked certain accounts. Moving forward, the platform said it will work towards limiting flagging while monitoring this issue. Emotions Running High The recent compliance requirements have forced several platforms to take drastic measures. Ethereum infrastructure provider Alchemy obstructs users of Tornado Cash from accessing its nodes. Infura also followed suit by blocking remote procedure call (RPC) requests to it. GitHub, for one, has courted controversy... read More



Ethereum dYdX Will Launch Standalone Blockchain On Cosmos, Token Jumps 1...

    Ethereum-based decentralized trading platform dYdX will be deployed as an independent blockchain on the Cosmos ecosystem. In the meantime, larger cryptocurrencies are facing hurdles and could continue to consolidate around their current levels. DYDX is in a downtrend on a 4-hour chart. Source: DYDXUSDT Tradingview The standalone blockchain is part of this platform’s fourth iteration, dYdX v4. The team behind the project expects to 'open source dYdX V4 by the end of 2022” but, as they clarified, this iteration will provide “critical” improvements so it will “require months of heads-down development”. The team behind the Ethereum-based trading platform picked Cosmos and its Proof-of-Stake (PoS) Tendermint consensus because of its security, decentralization, customizability, cross-chain capacities, and leverage its scalability. Thus, the platform will be able to process more transactions, and potentially increase its market share, amount of users, and trading volume while moving to its next development stage: full decentralization. The team behind the project said: The main requirement for the V4 protocol is full decentralization. The decentralization of a system is equal to the decentralization of its least decentralized component. This means that every part of V4 needs to be decentralized while also remaining performant. The ultimate objective, according to the announcement, is to make dYdX “one of the largest exchanges in all of the ... read More



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