dYdX price
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About dYdX
Disclosures
dYdX risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading dYdX. All crypto assets are risky, there are general risks in investing in dYdX. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
dYdX’s price performance
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Guides
dYdX on OKX Learn
dYdX FAQ
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.
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.
Easily buy dYdX tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include dYdX/USDT and dYdX/USDC.
You can also buy dYdX with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.
Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for dYdX with zero fees and no price slippage by using OKX Convert.
To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into dYdX, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.
Dive deeper into dYdX
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.
Disclaimer
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.