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dYdX(DYDX)

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$1.4315
(-2.11%)
0.00002139 BTC
Market Cap (Rank#185)
$327,937,531
4,900 BTC
Vol 24h
$15,488,192
231.412 BTC
Circulating Supply
229,089,698
Max Supply
1,000,000,000

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About dYdX?

The live price of dYdX (DYDX) today is 1.4315 USD, and with the current circulating supply of dYdX at 229,089,698 DYDX, its market capitalization stands at 327,937,531 USD. In the last 24 hours DYDX price has moved 0.0102 USD or 0.01% while 18,327,506 USD worth of DYDX has been traded on various exchanges. The current valuation of DYDX puts it at #185 in cryptocurrency rankings based on market capitalization.

Learn more about the dYdX blockchain network and how it works or follow the price of its native cryptocurrency DYDX and the broader market with our unique COIN360 cryptocurrency heatmap.

Introduction

dYdX (DYDX) is a leading decentralized exchange (DEX) that allows users to trade, lend, and borrow cryptocurrencies directly from their wallets. Built on the Ethereum blockchain, dYdX aims to create a fully open, permissionless, and secure financial system. The platform's unique aspects include its advanced trading features, such as options and margin trading, which are not commonly found in other DEXs.

Technology & Mechanism

Consensus Mechanism

dYdX operates on the Ethereum blockchain, which uses a Proof-of-Stake (PoS) consensus mechanism. This mechanism allows the platform to maintain high levels of security and decentralization.

Blockchain Technology

dYdX leverages smart contracts on the Ethereum blockchain to facilitate all its operations. These smart contracts are open-source and have been audited multiple times to ensure their security and reliability.

Key Features

Scalability

dYdX uses off-chain order books and on-chain settlement to achieve high scalability. This hybrid model allows the platform to process transactions quickly and efficiently.

Security

Security is a top priority for dYdX. The platform's smart contracts have been audited by leading security firms, and it also has a bug bounty program to encourage the discovery and reporting of potential security vulnerabilities.

Privacy

dYdX respects user privacy by not requiring personal information to use its platform. All transactions are pseudonymous, as is typical with Ethereum-based DEXs.

Decentralization

dYdX is fully decentralized, meaning that it is not controlled by any single entity. This ensures that the platform remains open and permissionless.

Development Team & Governance

dYdX was founded by Antonio Juliano, a former software engineer at Coinbase and Uber. The platform is governed by its community of token holders, who can vote on proposals to change the protocol.

Use Cases & Potential Impact

dYdX can be used for a variety of financial activities, including trading, lending, and borrowing. Its advanced trading features could potentially disrupt traditional financial markets by providing a more open, efficient, and inclusive alternative.

Purchase & Storage

How to Buy

DYDX tokens can be purchased on several exchanges, including Coinbase Pro and Binance. Users can also earn DYDX by providing liquidity on the platform.

Wallets & Storage

DYDX tokens can be stored in any wallet that supports ERC-20 tokens, such as MetaMask or Ledger.

Partnerships & Collaborations

dYdX has partnered with several other projects in the Ethereum ecosystem, including StarkWare, to improve its scalability, and Chainlink, to provide reliable price feeds for its platform.

Roadmap

dYdX has a robust roadmap that includes plans to add more trading pairs, improve its user interface, and further decentralize its governance.

Risks & Challenges

Like all DeFi projects, dYdX faces several risks and challenges, including smart contract bugs, market volatility, and regulatory uncertainty. However, the team is committed to addressing these issues and ensuring the platform's long-term success.

Community & Regulatory Compliance

Community

dYdX has a vibrant community of users and developers who contribute to the platform's development and governance. The community is active on various social media platforms, including Twitter and Discord.

Regulatory Compliance

dYdX is committed to complying with all relevant regulations. The team works closely with legal experts to ensure that the platform operates within the bounds of the law.

In conclusion, dYdX is a pioneering DeFi platform that offers advanced trading features in a secure, decentralized environment. With its robust technology, committed team, and vibrant community, dYdX is well-positioned to play a significant role in the future of finance.

dYdX Price1.4315 USD
Market Rank#185
Market Cap327,937,531 USD
24h Volume15,488,192 USD
Circulating Supply229,089,698 DYDX
Max Supply1,000,000,000 DYDX
Yesterday's Market Cap330,600,800 USD
Yesterday's Open / Close1.4329 USD / 1.4431 USD
Yesterday's High / Low1.472 USD / 1.4149 USD
Yesterday's Change
0.01% ( 0.0102 USD )
Yesterday's Volume18,327,506 USD
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