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What is dYdX (ethDYDX)

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What is dYdX (ethDYDX) (ETHDYDX)?

dYdX (ethDYDX) basic info

Name:dYdX (ethDYDX)

Ticker:

ETHDYDXBuy now

Introduction:

Cryptocurrency dYdX has emerged as a revolutionary platform in the world of decentralized finance (DeFi). Its key features and unique offerings have made it a popular choice among crypto enthusiasts. One of the notable features of dYdX is its ability to allow users to trade, lend, and borrow various cryptocurrencies without the need for intermediaries. This decentralized approach ensures that users have full control over their funds and transactions, eliminating the need for trust in a centralized authority. dYdX operates on the Ethereum blockchain, leveraging smart contracts to execute trades and enable lending and borrowing activities. This provides users with a transparent and secure environment for their transactions. One of the biggest advantages of using dYdX is its ability to offer margin trading. Margin trading allows users to amplify their potential gains by borrowing funds to trade with a higher leverage ratio. However, it is important to note that margin trading also carries higher risks, as losses can be magnified. In addition to margin trading, dYdX also supports perpetual contracts. Perpetual contracts are similar to traditional futures contracts, but with no expiry date. This allows users to trade assets without the need to worry about contract expiration. Another key feature of dYdX is its integration with various decentralized liquidity protocols. By tapping into liquidity pools such as on-chain decentralized exchanges, dYdX ensures users can access a wide range of trading pairs and competitive pricing. To ensure the security of user funds, dYdX employs advanced security measures such as multi-signature wallets, cold storage, and audits to minimize the risk of hacks or breaches. Overall, dYdX is a significant player in the DeFi space, offering users the ability to trade, lend, and borrow cryptocurrencies in a decentralized and secure manner. Its unique features, including margin trading and perpetual contracts, have attracted a growing user base seeking innovative ways to engage with the crypto market.

Current price:

$1.28More price details

All-time high:$27.78

All-time low:$0.00

ETHDYDX supply and tokenomics

Circulating supply:219,854,620 ETHDYDX

Total supply:372,901,104.14 ETHDYDX

Max supply:0 ETHDYDX

Market cap:$282.02M

Fully diluted market cap:$478.35M

Token allocation:

Investors

27.73%

Trading Users

25.00%

Founders & Teams

15.27%

Trading Airdrop

7.50%

LPs Airdrop

7.50%

Foundation

7.00%

Community Treasury

5.00%

Others

5.00%

Tokenomics:

Uniqueness

dYdX is a cryptocurrency exchange that combines advanced financial tools with decentralization. The platform supports margin trading — a financial product enabling investors to increase their exposure to digital assets through leverage . dYdX’s isolated margin allows users to assign particular funds in the account as part of a trade, while cross-margin utilizes all the assets a trader keeps on the platform. Perpetuals — a type of futures contract that does not have a predetermined selling date, is also available for trading on dYdX. The exchange currently offers a maximum of 20x leverage on synthetic assets.

dYdX Layer 2 increases scalability of the network through use of a form of zero-knowledge rollup — zkSTARKS. The technology receives proofs, while validating a batch of transactions off-chain. These proofs are then sent back to the blockchain, where they are verified by a smart contract. zkSTARKS makes it possible to remove expensive computations from the mainnet with no sacrifices in decentralization.

Together, with trading and liquidity provider rewards, dYdX introduces retroactive mining benefits, allowing the platform to show appreciation to historical users and incentivize them to trade on layer 2 protocol.

Token utility

$DYDX was launched on Aug 3rd, 2021, and there are 1 billion $DYDX minted in the beginning in total. Holders of $DYDX on dYdX can stake tokens to the Secure Module to mint $stkDYDX. $stkDYDX has the same proposal and voting rights as $DYDX in terms of governance. The security module is primarily used to incentivize holders to properly govern the protocol, and act as a risk manager in the system at the same time. As an incentive reward, 2.5% of the initial supply of $DYDX is allocated to users who stake $DYDX according to the fees generated by user transactions and the percentage of open interests. In addition, 7.5% and 25% of the initial token supply are also used for liquidity provider rewards and trading rewards to incentivize their participation in trading activities on dYdX.

The initial supply will follow a 5-year release schedule and after 5 years, $DYDX will follow a <2% annual inflation rate to increase the total supply.

250M $DYDX (25%) as trading rewards
75M $DYDX (7.5%) airdropped to past users
75M $DYDX (7.5%) as liquidity providing rewards
50M $DYDX (5%) to treasury
25M $DYDX (2.5%) as USDC staking pool reward, but after DIP14 the pool was shut down and the remaining was moved to treasury
25M $DYDX (2.5%) to $DYDX staking pool as rewards
277M $DYDX (27.73%) to past investors
152M $DYDX (15.25%) to the team
70M $DYDX (7%) to future employees

Links

Website:https://dydx.trade/?utm_source=cmc&utm_medium=media&utm_campaign=cmc-feed

Whitepaper:https://docs.dydx.community

X:https://twitter.com/dYdX

GitHub:https://github.com/dydxfoundation/

Buy dYdX (ethDYDX) for $1Buy ETHDYDX now

What is the development prospect and future value of ETHDYDX?

The market value of ETHDYDX currently stands at $282.02M, and its market ranking is #192. The value of ETHDYDX is widely recognized by the market. When the bull market comes, the market value of ETHDYDX will likely continue to increase.

Moreover, if ETHDYDX can play a greater role in practical applications, such as dYdX (ethDYDX) builders fully leveraging the potential of ETHDYDX, partnering with more businesses, and increasing its user base, the long-term value of ETHDYDX will be significantly enhanced.

What will the price of ETHDYDX be in 2025?

Based on ETHDYDX's historical price performance prediction model, the price of ETHDYDX is projected to reach $1.84 in 2025.

What will the price of ETHDYDX be in 2030?

In 2030, the ETHDYDX price is expected to change by -13.00%. By the end of 2030, the ETHDYDX price is projected to reach $3.04, with a cumulative ROI of +145.97%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of ETHDYDX and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

ETHDYDX price ETHDYDX price prediction ETHDYDX news

Is ETHDYDX worth investing or holding? How to buy ETHDYDX from a crypto exchange?

If you want to buy ETHDYDX, the following information may be helpful for your investment decisions:

In the last seven days, the price of ETHDYDX has risen by 2.51%, leading to positive returns for most ETHDYDX investors. The market is currently optimistic about the price trend of ETHDYDX.

It is important to note that the current price of ETHDYDX has retreated by -95.38% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether ETHDYDX is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in ETHDYDX or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of ETHDYDX, if you want to buy or sell ETHDYDX, you can consider Bitget for your trading needs. The best place to buy ETHDYDX is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in dYdX (ethDYDX) has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy dYdX (ethDYDX). Here's a step-by-step guide on how to buy dYdX (ethDYDX) on Bitget.

Buy ETHDYDX now Coin buying guide

How to get dYdX (ethDYDX) through other methods？

Using cash to buy dYdX (ethDYDX) is not the only way to obtain dYdX (ethDYDX). If you have the time to spare, you can get dYdX (ethDYDX) for free.

Learn how to earn dYdX (ethDYDX) for free through the Learn2Earn promotion.

Earn free dYdX (ethDYDX) by inviting friends to join Bitget's Assist2Earn promotion.

Receive free dYdX (ethDYDX) airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to dYdX (ethDYDX) through Bitget Convert, Bitget Swap, or spot trading.

What is dYdX (ethDYDX) used for and how to use dYdX (ethDYDX)?

The use case of dYdX (ethDYDX) may expand as the crypto market and the project itself develop. Currently, you can use ETHDYDX to achieve the following goals:

Arbitrage by trading ETHDYDX: Since ETHDYDX is a frequently traded cryptocurrency, the price of ETHDYDX is always fluctuating. Earn more ETHDYDX by buying low and selling high on the exchange. Bitget spot market provides a variety of ETHDYDX trading pairs to fully meet your needs.

Earn by staking ETHDYDX: You can also generate income through financial management methods such as staking ETHDYDX or lending ETHDYDX. Bitget Earn offers a variety of financial products designed to help you earn more income from your ETHDYDX.

Send or pay ETHDYDX: If you want to give ETHDYDX to your friends, a charity, or a fundraiser, or you want to pay someone with ETHDYDX, you can quickly and easily send ETHDYDX to the recipient through their payment address.

You can also go to the official website of the dYdX (ethDYDX) project to learn more about the use cases of ETHDYDX. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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