dYdX exchange
Overview
dYdX is a decentralized exchange (DEX) for perpetual contracts and margin trading. It originally operated on Ethereum Layer 2 (StarkEx) and later launched dYdX v4 as a sovereign Cosmos-based blockchain with its own governance token (DYDX). The exchange uses an on-chain order book model, distinguishing it from AMM-based DEXs.
Within the DeFi Intel graph, dYdX connects to 4 tracked entities, most strongly to dYdX Chain, Bybit, CME Group.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 4 of 4 total).
| Relation | Connected entity | Confidence |
|---|---|---|
built_on | dYdX Chain | 95% |
competes_with | Bybit | 70% |
competes_with | CME Group | 70% |
integrates | Coinbase | 50% |
Frequently asked questions
What is dYdX?
dYdX is a decentralized exchange that facilitates perpetual futures and margin trading. It operates as a standalone Cosmos blockchain (v4) and previously ran on Ethereum Layer 2 using StarkEx technology.
How is dYdX different from other decentralized exchanges?
dYdX uses an on-chain order book model, similar to centralized exchanges, rather than an automated market maker (AMM) model. This allows for limit orders and more traditional trading mechanics.
What is the dYdX token used for?
The DYDX token is used for protocol governance, staking to the validator set, and fee discounts on the exchange.
What is dYdX connected to?
In the DeFi Intel knowledge graph, dYdX is linked to 4 other tracked entities, most strongly to dYdX Chain, Bybit, CME Group.
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