Elon just candled $VINE from 35m -> 90m
Bro is the biggest crypto KOL 😭
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dYdX
Only 1 day left to register for the ROI Rumble trading competition ⏰
Register today, and then lock in as the competition will begin tomorrow at 11:00 UTC.
Register here ➡️
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gala⚡$M | 🐜
Using @dYdX but didn't notice that it actually uses StarkWare's Layer2 technology behind the scenes. This is quite crucial because it directly addresses two major issues: slow transactions and high fees.
In simple terms, dYdX moves most of the computation off-chain and only puts the results back on-chain. This means that transaction execution is fast and cost-effective, with almost no perceived delay, and significant gas savings.
For high-frequency traders, this is a qualitative improvement. You don't get stuck every time you place an order like with traditional DEXs, and you don't have to spend a lot on fees due to frequent trading. The overall experience feels more like a centralized exchange, but you still have control over your assets.
Moreover, it's not that kind of compromise "cheap"; the technical solution is a genuine L2 expansion that balances performance and security. This is actually quite rare among DEXs.
Especially for those who enjoy perpetual contracts and leveraged trading, this smooth, low-cost experience can be considered one of the best available right now. dYdX hasn't adopted the "high-subsidy, high-fee" approach; instead, it has reduced costs from the underlying architecture. The key is that it has a leaderboard event on @KaitoAI, so you must participate. You can also pay more attention to projects on @arbitrum, which are currently very popular!! @shoutdotfun's first coin $ENERGY surged dozens of times at launch, and you can also keep an eye on $SHOUT and $Bane!!
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dYdX
Ready to take on Challenge 1 in the #dYdXWeeklyChallenge Series?
Here's a guide on how to connect and deposit using your $ETH wallet 🤝
Watch ➡️
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dYdX
New Instant Market Listing: $ZORA
You can now trade @zora on dYdX with up to 5x leverage!
Get started ➡️
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dYdX price performance in USD
The current price of dYdX is $0.61000. Over the last 24 hours, dYdX has decreased by -7.58%. It currently has a circulating supply of 753,451,657 DYDX and a maximum supply of 1,000,000,000 DYDX, giving it a fully diluted market cap of $461.41M. At present, dYdX holds the 79 position in market cap rankings. The dYdX/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
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.
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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 17 new posts about dYdX, driven by 6 contributors, and total online engagement reached 327 social interactions. The sentiment score for dYdX currently stands at 50%. Compared to all cryptocurrencies, post volume for dYdX currently ranks at 17960. 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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Posts
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Interactions
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Sentiment
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dYdX FAQ
How much is 1 dYdX worth today?
Currently, one dYdX is worth $0.61000. 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.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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