dYdX is a protocol that allows any financial product to issue and trade ERC20 tokens. dYdX adopts off-chain orders and on-chain matching to create an efficient market. All described protocols are fair and not governed by central authorities. The protocol can be extended by anyone, no special permissions and other smart contracts are required.

DYDX is a governance token that allows the dYdX community to hold and govern the dYdX protocol. Mainly used for dYdX protocol governance and fee discounts.

Project Introduction

Dydx exchange is a decentralized perpetual contract exchange that operates on the L2 blockchain system and provides L1 spot/leverage/loan services.
Dydx utilizes a hybrid infrastructure model, primarily non-custodial, on-chain settlement and an off-chain low-latency matching engine with an order book.

dYdX has at least four funding rounds