Exchange dYdX (DYDX)
If you're looking to swap dYdX, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is dYdX or some fresh information about DYDX’s price movements. And, of course, we provide you with the multiple dYdX exchange options so that you can choose the offer with the best rates and lowest dYdX fees, as well as other parameters that suit you.
dYdX Price Stats
To help you make a decision about exchanging your dYdX, we gathered some cold hard numbers: dYdX price chart and other stats, such as dYdX market cap.
24H HIGH $1.796
DYDX MARKET CAP $1,732,826,700
CIRCULATING SUPPLY 1,000,000,000 DYDX
24H LOW $1.7176564
DYDX PRICE $1.7328267
24H VOLUME $11,036,601.994
dYdX Price Chart
Here you can see the current price of dYdX, as well as dYdX price history.
What is dYdX?
DYDX is an open-source blockchain platform with smart contract functionality, designed to lend, borrow and trade crypto assets. The platform mainly focuses on derivatives and margin trading, though it also supports spot trading.
The project was founded in 2017 and raised over $10 million in seed venture capitalist funding. The platform went live in 2019 and had its ICO on September 9, 2021. The creator of it is Antonio Juliano - an experienced programmer with a background in blockchain technology, who entered the crypto space in early 2015 by getting a job as a software engineer at Coinbase, a crypto exchange platform. The other co-founder is Zhuoxum Yin who serves as a head of operations at DYDX and previously worked for Nimble and Bain&Company.
DYDX Foundation is a non-profit organization headquartered in Zug, Switzerland. It takes care of all the aspects of DYDX, including the technology of the current implementation and all future implementations of the DYDX Protocol.
DYDX Layer-2 uses zkStarks, a form of zero-knowledge rollups. They validate a batch of transactions off-chain while receiving proofs, and that batch is later sent back to the blockchain to get verified by a smart contract. With zkStarks, the expensive computations can be removed from the mainnet without sacrificing decentralization.
DYDX cryptocurrency exchange combines advanced financial tools and decentralization. The platform supports margin trading - a financial product enabling investors to increase their exposure to digital products through leverage. With the isolated margin users also can assign particular assets as a part of the trade, while cross-margin utilizes all the assets a trader keeps on the platform. DYDX exchange also offers perpetuals (future contracts without a predetermined selling date). The exchange currently offers a maximum of 25x leverage on synthetic assets without expiration.
The DYDX platform has a friendly interface with the following functionality:
- governance suggestion with the possibility to vote;
- receiving rewards and seeing the history of received rewards;
- getting information about staked, received, withdrawn, and daily distributed DYDX tokens.
Once users deposit their assets to DYDX, they start earning interest as their assets are added to the global lending pool specific to each cryptocurrency. Platform checks if the borrowers have enough collateral in their accounts at all times. Users can acquire any of the assets available on the platform using the funds they have in possession as collateral for the loan. DYDX also features an order book architecture unlike automated market makers such as Uniswap.
DYDX is a governance token for the Layer-2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It was created to facilitate the operation of layer-2 and allows traders, liquidity providers, and partners to build the community of the protocol. It’s an ERC-20 standard token.
With DYDX token users can propose changes to the DYDX Layer-2 network. The token also can be staked and provides users with trading fee discounts. The layer-2 is built on Starkwire’s scalability engine. This scalability solution allows DYDX to increase transaction speed, eliminate gas costs, reduce trading fees, and lower minimum trading sizes on the protocol.
DYDX tokens can be staked in the project’s safety and liquidity pools. The safety pools guarantee a safety net in case of a shortfall event, the liquidity pool works to attract high-quality market makers.
The total supply of DYDX is 1 billion coins. They are planned to be distributed over a five-year period, starting on August 3, 2021. 50% is allocated to the community, 25% is used as trading rewards, 7.5% is kept for retroactive mining rewards, 7.5% goes to the liquidity provider rewards, 5% goes to the community treasury, 2.5% is kept for users that stake USDC to a liquidity staking pool and 2.5% goes to the users staking DYDX to a safety staking pool.
Average Fees on DYDX
DYDX offers low fees for trading on the platform, compared to many other projects. For trading assets below $100000, users don’t need to pay, and as the amount increases the fees grow also. There are also no fees associated with deposits and withdrawals on the network. But the users have to pay for the gas used in the transaction.
Takers on DYDX are charged 0.05% and makers pay 0.02%.
DYDX exchange supports many common and known wallets such as MetaMask, Ledger/Trezor, Coinbase Wallet, Wallet Connect, imToken, etc.
As for the DYDX token, it can be held in most of the crypto wallets, including Binance, MetaMask, Ledger, Coinbase, Assure Wallet, Math Wallet, Trust Wallet, Blocto Wallet, Coinhub, Magic Wallet, Omni Wallet, Fortmatic, Infinito Wallet, etc.
A Simple Way To Exchange dYdX Here At SwapSpace
Choose a pair
Choose the cryptocurrencies you would like to exchange among more than 1600 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.
Select the best rate
Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!
Receive your coins
You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: firstname.lastname@example.org.