The current price of dYdX is $1.4380. Since 00:00 UTC, dYdX has increased by +1.20%. It currently has a circulating supply of 711,191,219 DYDX and a maximum supply of 1,000,000,000 DYDX, giving it a fully diluted market cap of $1.02B. At present, the dYdX coin holds the 74 position in market cap rankings. The dYdX/USD price is updated in real-time.
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As a Layer-2 decentralized exchange, dYdX leverages Ethereum smart contracts to create various crypto-asset financial products. DYDX is the name and ticker symbol of the governance token of the dYdX exchange. With advanced trading features, this open trading platform supports perpetual futures, margin trading, borrowing, and lending to ensure fast execution, security, and transparency. The exchange also offers programmatic trading and helps traders build their trading bots on dYdX.
In 2020, the fully noncustodial protocol also implemented a Layer 2 scaling solution (ZK-rollups) by partnering with blockchain technology developer StarkWare. With this partnership, the perpetual contracts on the exchange are powered by StarkWare’s scalability engine, StarkEx. As a result, with 25 times more buying power, traders no longer have to pay fees to miners for each transaction.
The StarkWare and dYdX integration helped bring more trading pairs onto the exchange, allowing traders to increase capital efficiency and trade with lower margin requirements.
The liquidity of the dYdX exchange is mainly due to staking pools. dYdX has two types of staking pools, namely safety and liquidity pools. Both provide liquidity and allow the creation of new markets on the Layer 2 protocol. Users continue to receive staking rewards in proportion to their share in the pools. The platform also incentivizes long-term holders of DYDX tokens by providing them with trading rewards and discounts.
DYDX price and tokenomics
DYDX has a total supply of 1 billion, which will be distributed over five years. The perpetual inflation rate is fixed at a maximum of 2% per year, enforced via a governance proposal. All holders of DYDX tokens can participate in the governance process to make necessary changes to the Layer 2 protocol. For example, holders can define staking pool payouts and set risk parameters, adding more utility value to the DYDX token.
50% of the total supply of DYDX tokens will go towards the dYdX community, which includes traders, liquidity providers, and stakers. The remaining supply is distributed among past investors and employees of the dYdX Foundation. The token’s staking mechanism and governance utility has facilitated the growth of DYDX’s price.
About the founders
Antonio Juliano is the founder and CEO of dYdX. He started his journey in the crypto world after graduating from Princeton University with a computer science degree, which landed him an internship at Coinbase. He started the dYdX decentralized exchange to increase transparency, improve user safety, and faster trading transactions. Juliano felt a lot of demand for margin trading and pushed it as a use case for dYdX.
dYdX has raised a total of $87 million over four funding rounds. On June 15, 2021, dYdX raised $65 million during a Series C round led by Paradigm. The previous funding round in January 2021 helped raise $10 million, the lead investors being Three Arrows Capital and Defiance Capital.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 1.9K new posts about dYdX, driven by 363 contributors, and total online engagement reached 214K social interactions. The sentiment score for dYdX currently stands at 87%. Compared to all cryptocurrencies, post volume for dYdX currently ranks at 2175. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of dYdX.
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1,928
Contributors
363
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214,101
Sentiment
87%
Volume rank
#2175
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1,703
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194,662
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DYDX FAQ
What is DYDX?
dYdX is an advanced trading exchange for spot, margin, and perpetual futures trading. Traders can directly access the platform without handing over their assets to a central entity. The platform is powered by smart contracts on Ethereum, making dYdX an open, permissionless, noncustodial DEX. DYDX is the ticker symbol of the exchange’s native governance token.
dYdX offers various trading tools and features that help with faster trade execution, security, and platform transparency. Moreover, there have been no gas fees after implementing Layer 2 scaling solutions, giving traders access to more trading pairs.
How does DYDX work?
The noncustodial dYdX exchange uses smart contracts for all its services. Each asset listed on dYdX has its own lending pool. Lenders and borrowers interact within asset pools, determining the supply and demand and each asset’s interest rates. DeFi services such as margin trading and perpetual futures trading are also available.
What is the DYDX price prediction?
While it’s challenging to predict the exact future price of DYDX, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is dYdX worth today?
Currently, one dYdX is worth $1.4380. For answers and insight into dYdX's price action, you're in the right place. Explore the latest dYdX charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as dYdX, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as dYdX have been created as well.
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