dYdX

Thing ∙ ID: 10833

dYdX is a leading non-custodial decentralized exchange (DEX) focused on advanced crypto derivatives, particularly perpetuals. It launched its native token, $DYDX, in August 2021 for governance and trader rewards. Utilizing StarkWare's StarkEx scalability engine, the platform operates on a layer 2 protocol for efficiency. Headquartered in San Francisco, with a foundation in Zug, Switzerland, dYdX supports popular trading pairs like Ethereum, Bitcoin, and Solana. Features include a maker-taker fee structure and leveraged trading up to 20X for BTC and ETH markets. Plans are in motion to launch an independent blockchain based on Cosmos SDK.