dYdX (DYDX)

dYdX is currently trading at $1.4007, after a price change of 2.23% in the last 24 hours.

Ranked as cryptocurrency #193 by capitalization today, DYDX market cap is valued at $91,869,415. DYDX trading volume reached $56,288,124 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on DYDX coin price prediction page.

What is Dydx?

dydx is a decentralized cryptocurrency trading exchange based on a layer-two solution in partnership with StarkWare. Starkware secures its network with the proof-of-data integrity and on-chain data to offer a completely non-custodial platform. The protocol offers two staking pools, liquidity, and safety. Retroactive mining, trading, and liquidity provider rewards are available to the platform’s native tokens users. Retroactive mining rewards and trading rewards incentivize users to use the layer-two platform users.

DYDX is the native token powering dydx. There are 65,569,295 DYDX circulating tokens from a supply of 1 billion and a matching hard cap. DYDX is a governance coin that enables collective decision-making on the platform. The decisions touch on the safety of the ecosystem, the tokens to be listed, market makers, and risk metrics. 

Token holders are entitled to a proposing power and voting power, which can be delegated. The platform supports the staking of DYDX and USDC in return for rewards. The yield earned from the platform’s trading activities is paid out every 28 days per epoch program.

Antonio Juliano is the founder of dydx, which launched in 2018.