672f0e2ee0e15c7419cd6578_672f0d9b6e7065c2497e4179_Twitter_MegaVaultLoop_1600x900_3_logo%201.jpeg

Exciting times ahead with dYdX's biggest upgrade yet!

Unlimited Markets: Permissionless market listings foster innovation and diversity in trading.

MegaVault: A revolutionary liquidity solution where you deposit USDC, earn yield, and enhance market liquidity. It's like your money goes on a little vacation and comes back with friends!

Affiliates Program: Get rewarded for spreading the love. Invite others to trade, earn from their fees, and enjoy the community growth with less friction than a well-oiled AI.

Enhanced Trading: The interface is getting a glow-up with better tools for risk management and trading, making it smoother.

I'm looking forward to my DYDX bags coming back into profit

https://www.dydx.foundation/blog/coming-soon-the-dydx-unlimited-era

dYdX is a decentralized exchange platform that offers perpetual trading options.

dYdX

Exciting times ahead with dYdX's biggest upgrade yet! 

Unlimited Markets: Permissionless market listings foster innovation and diversity in trading.

MegaVault: A revolutionary liquidity solution where you deposit USDC, earn yield, and enhance market liquidity. It's like your money goes on a little vacation and comes back with friends!

Affiliates Program: Get rewarded for spreading the love. Invite others to trade, earn from their fees, and enjoy the community growth with less friction than a well-oiled AI.

Enhanced Trading: The interface is getting a glow-up with better tools for risk management and trading, making it smoother.

I'm looking forward to my DYDX bags coming back into profit 

https://www.dydx.foundation/blog/coming-soon-the-dydx-unlimited-era

dYdX Unlimited Era

CryptoDan

Doesn't look like a good buy at the moment.

Notice the big volume spikes without a lot of upside movement. That signals to me that traders are trying to push price higher, but it's absorbing the buying pressure.

In order for this chart to be interesting, I would look for a sell off on big volume. That could signal capitulation and might be a good buying opportunity.

The chain is being migrated to a new platform, so that might create a new, more bullish dynamic. Nothing is currently showing on the chart though.

Doesn't look like a good buy at the moment. 

Notice the big volume spikes without a lot of upside movement. That signals to me that traders are trying to push price higher, but it's absorbing the buying pressure. 

In order for this chart to be interesting, I would look for a sell off on big volume. That could signal capitulation and might be a good buying opportunity. 

The chain is being migrated to a new platform, so that might create a new, more bullish dynamic. Nothing is currently showing on the chart though.

Tartarian

The protocol empowers users to lend, borrow, and speculate on the future prices of crypto assets through its decentralized exchange. dYdX's ultimate goal is to bring trading instruments typically found in traditional markets, such as stocks, bonds, forex, and commodities, onto the blockchain, creating a fully decentralized trading hub.

While there might be numerous DeFi protocols and plenty of platforms with similar aims, dYdX is making significant strides toward becoming the future of blockchain trading, expanding beyond just cryptocurrencies. Think of it as a fusion of Wall Street and blockchain.

What sets dYdX apart from many other DeFi decentralized exchanges is its sophisticated margin trading tools, instruments, and features, bridging the gap between decentralized and centralized trading functionality. This unique approach positions dYdX to elevate the entire industry, leveraging blockchain technology to unprecedented levels.

Jethro

dYdX is worth keeping an eye on in my opinion. The project offers a number of features that are attractive to serious traders, including:

Margin trading: dYdX allows users to trade with up to 20x leverage (not the greatest). This means that you can control a larger position with a limited investment which does help a great deal when trading.

Prediction markets: dYdX also offers some prediction markets, where you can bet on the outcome of future events. This can be a great way to generate passive income or hedge against risk.

Low fees: dYdX charges no fees for spot trading. Margin trading fees are currently 0.02% which is actually amazing.

Security: dYdX is a highly secure exchange. It is fully auditable and has never been hacked.

Overall, dYdX is an interesting option for traders however if you are looking for margin trading then Gains Network and GMX are probably also on your list and it does make sense to diversify.

CryptoBadger

Have you by any chance checked the forum of dYdX (img1)? The topics there are very informative. Some are pretty technical, but it is cool to see they have great activity there.

I want to break it down by per category where dYdX is currently active in.

Twitter
203.5K Followers, 2,631 tweets.
Many tweets and following their timeline will keep you updated on all the developments that are relevant for (retail) investors. The average view per post hoovers around 10k.

Discord
31,759 members, 2,973 online.
Good ratio and member activity. This is mainly used to chat with other traders.

YouTube
11 video's and 3,390 subscribers. Not that impressive, but in the video there are helpful tutorials.

Reddit
No Medium, but Reddit. Both will do, but somehow I feel Medium has a more professional character, but that's just my opinion. Reddit shows a decent activity for dYdX with some relevant posts.

LinkedIn
6,952 followers. They barely post here, but you can find sufficient info and, of course, you find their fully doxxed team. Job options are up-to-date and posted on LinkedIn too.

Conclusion
I give five stars, but I do think dYdX can get more out of their YouTube-channel and maybe post the highlights that they Tweet on Twitter on their LinkedIn. It's never bad to promote yourself without losing the confidence of your targeted audience.

Have you by any chance checked the [forum](https://dydx.forum/) of dYdX (img1)? The topics there are very informative. Some are pretty technical, but it is cool to see they have great activity there.

I want to break it down by per category where dYdX is currently active in. 

## Twitter
203.5K Followers, 2,631 tweets.
Many tweets and following their timeline will keep you updated on all the developments that are relevant for (retail) investors. The average view per post hoovers around 10k.

## Discord
31,759 members, 2,973 online.
Good ratio and member activity. This is mainly used to chat with other traders.

## YouTube
11 video's and 3,390 subscribers. Not that impressive, but in the video there are helpful tutorials. 

## Reddit
No Medium, but Reddit. Both will do, but somehow I feel Medium has a more professional character, but that's just my opinion. Reddit shows a decent activity for dYdX with some relevant posts. 

## LinkedIn
6,952 followers. They barely post here, but you can find sufficient info and, of course, you find their fully doxxed team. Job options are up-to-date and posted on LinkedIn too.

------------------------

Conclusion
I give five stars, but I do think dYdX can get more out of their YouTube-channel and maybe post the highlights that they Tweet on Twitter on their LinkedIn. It's never bad to promote yourself without losing the confidence of your targeted audience.

Jeroen

I think the way the current crypto landscape is now set up with CEX’s having less trust from the public than ever before and exchanges being so much more vigilant on KYC, its is now the time for DEX’s to take the limelight and run the exchange show in the crypto world. Being a pioneer of the DEX trading world dYdX should continue to evolve, improve and add more pairs to trade which will ultimately pull in more volume to the exchange, therefore I see a lot more value to be extracted from dYdX in the future.

I think the cause for its recent big slump in price action has all been to do with its airdrop where a lot of people made essentially a lot of ‘easy money’ and cashed it all out while they could resulting in one hell of a dump from $27 to right now around $2.

There was a current point of concern I saw another analyst bring up about 67% of its total supply is being held by 14 whales, however as the supply of dYdX keeps increasing one would hope other buyers will step in to buy the new supply up and water down the percentage amount of what these whales currently hold over an accumulation period.

Overall my opinion is buying dYdX now with its current mcap will not make you life changing money if you are investing say around $1000, never the less given the current narrative of DEX’s and their evolving potential for the future I think its safe to say a prominent DEX exchange such as this should see some fairly adequate returns in the next bull run. But be aware that if these 16 whales hodl until then, they could cause price to dump substantially at any time when they do decide to sell, so I would personally make sure I would be disciplined in scaling out profits on a potential rise up if I did get into this asset.

I think the way the current crypto landscape is now set up with CEX’s having less trust from the public than ever before and exchanges being so much more vigilant on KYC, its is now the time for DEX’s to take the limelight and run the exchange show in the crypto world. Being a pioneer of the DEX trading world dYdX should continue to evolve, improve and add more pairs to trade which will ultimately pull in more volume to the exchange, therefore I see a lot more value to be extracted from dYdX in the future.
 
I think the cause for its recent big slump in price action has all been to do with its airdrop where a lot of people made essentially a lot of ‘easy money’ and cashed it all out while they could resulting in one hell of a dump from $27 to right now around $2. 

There was a current point of concern I saw another analyst bring up about 67% of its total supply is being held by 14 whales, however as the supply of dYdX keeps increasing one would hope other buyers will step in to buy the new supply up and water down the percentage amount of what these whales currently hold over an accumulation period. 

Overall my opinion is buying dYdX now with its current mcap will not make you life changing money if you are investing say around $1000, never the less given the current narrative of DEX’s and their evolving potential for the future I think its safe to say a prominent DEX exchange such as this should see some fairly adequate returns in the next bull run. But be aware that if these 16 whales hodl until then, they could cause price to dump substantially at any time when they do decide to sell, so I would personally make sure I would be disciplined in scaling out profits on a potential rise up if I did get into this asset.

Jeppopo

Into the playground
I am a fan of the testnet. It lets developers play around with different concepts as close to the real-world environment as possible without risking their assets.

dYdX has five fases (milestones), where they reached the final two. There's no overview to be found, just blog-styled recaps, so I will break it down for you.

Milestone 1 - Basic trading
Orderbook & Matching-Engine
Margining System
JavaScript Client
Telemetry & Monitoring
Lastly, the stress test

Milestone 2 - Functionality
Fees
Liquidations
Oracle Price Updates
Static Funding Rates
Token Transfers

Milestone 3 - Advanced
Validator Staking
Dynamic Funding Rates
Key-Permissioning & Access Management
Advanced Order Types
Documentation for Validators
Indexing Service

Milestone 4 - Public testnet
On-Chain Governance
Token Emissions & Rewards
Wallet Compatibility & Onboarding

Milestone 5 - Polish and optimize
IBC Connections to other Blockchains
Stablecoin Integration

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Conclusion
When everything is working fine, and the mainnet is rolled out, there will be three parallel networks:

Internal Testnet
Public Testnet
Mainnet

In the source of August 2022, time-bounded milestones were shown. dYdX was supposed to finish v4 in Q1, but they are still ongoing latest update May, 2023. This, and the way I have to find out about their progress, should let me give progress 4 stars, however, I find their (test)work to be worthy of 5, and quality > quantity.

## Into the playground
I am a fan of the testnet. It lets developers play around with different concepts as close to the real-world environment as possible without risking their assets.

dYdX has five fases (milestones), where they reached the final two. There's no overview to be found, just blog-styled recaps, so I will break it down for you.

## Milestone 1 - Basic trading
Orderbook & Matching-Engine
Margining System
JavaScript Client
Telemetry & Monitoring
Lastly, the stress test 

## Milestone 2 - Functionality
Fees
Liquidations
Oracle Price Updates
Static Funding Rates
Token Transfers

## Milestone 3 - Advanced
Validator Staking
Dynamic Funding Rates
Key-Permissioning & Access Management
Advanced Order Types
Documentation for Validators
Indexing Service

## Milestone 4 - Public testnet
On-Chain Governance
Token Emissions & Rewards
Wallet Compatibility & Onboarding

## Milestone 5 - Polish and optimize
IBC Connections to other Blockchains
Stablecoin Integration

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 
# Conclusion
When everything is working fine, and the mainnet is rolled out, there will be three parallel networks:

Internal Testnet
Public Testnet
Mainnet

In the source of August 2022, [time-bounded milestones](https://dydx.exchange/blog/v4-milestones) were shown. dYdX was supposed to finish v4 in Q1, but they are still ongoing [latest update May, 2023](https://dydx.exchange/blog/v4-technical-architecture-overview). This, and the way I have to find out about their progress, should let me give progress 4 stars, however, I find their (test)work to be worthy of 5, and quality > quantity.

Regarding the current state and future prospects of dYdX, I would like to address both the present idea and potential future ideas.

Current Idea:
The core concept driving the dYdX project is to empower individuals by granting them greater control over their financial activities through the utilization of blockchain technology. By offering decentralized margin trading and lending services, dYdX aims to foster an inclusive and efficient financial ecosystem on the Ethereum network. However, it was announced that dYdX will be leaving the Ethereum blockchain in 2022 and establishing its own native chain on the Cosmos ecosystem. The public testnet becomes active in July 2023, and the plan is to launch on Cosmos in September of this year. Nathan Cha, dYdX's marketing lead, explained this move by stating, "We reached a point where Ethereum couldn't process the transactions fast enough."

Future Ideas:
Several future ideas emerge when considering dYdX's objectives and current trajectory:

Expansion into other derivative products and instruments to provide users with risk management strategies and a wider range of investment options.

Improved cross-chain interoperability, which is expected to occur once Cosmos goes live in September.

Achieving mainstream adoption by enhancing the user experience and interface of their decentralized applications (dApps), making them more intuitive and user-friendly.

Exploring technological solutions that enable the tokenization and trading of real-world assets, such as real estate.

Conclusion:
dYdX's decision to branch out from the Ethereum blockchain was a strategic move, allowing for future expansion. One of the future ideas mentioned above will undoubtedly provide them with additional growth opportunities.

Regarding the current state and future prospects of dYdX, I would like to address both the present idea and potential future ideas.

Current Idea:
The core concept driving the dYdX project is to empower individuals by granting them greater control over their financial activities through the utilization of blockchain technology. By offering decentralized margin trading and lending services, dYdX aims to foster an inclusive and efficient financial ecosystem on the Ethereum network. However, it was announced that dYdX will be leaving the Ethereum blockchain in 2022 and establishing its own native chain on the Cosmos ecosystem. The public testnet becomes active in July 2023, and the plan is to launch on Cosmos in September of this year. Nathan Cha, dYdX's marketing lead, explained this move by stating, "We reached a point where Ethereum couldn't process the transactions fast enough."

Future Ideas:
Several future ideas emerge when considering dYdX's objectives and current trajectory:

- Expansion into other derivative products and instruments to provide users with risk management strategies and a wider range of investment options.

- Improved cross-chain interoperability, which is expected to occur once Cosmos goes live in September.

- Achieving mainstream adoption by enhancing the user experience and interface of their decentralized applications (dApps), making them more intuitive and user-friendly.

- Exploring technological solutions that enable the tokenization and trading of real-world assets, such as real estate.

Conclusion:
dYdX's decision to branch out from the Ethereum blockchain was a strategic move, allowing for future expansion. One of the future ideas mentioned above will undoubtedly provide them with additional growth opportunities.

Having used dydx there are a few aspects I really like about this DEX which make it appealing to use.

No gas fees when trading perpetuals or swapping assets.
Ability to long and short with high leverage.
Earn interest on deposited assets with competitive borrowing rates.

There are also a few things I do not like:

Limited selection for margin trading pairs.
There is no spot trading (even though I believe they are addressing this in V4).

In the current crypto landscape with CEX’s becoming less secure/trustworthy and KYC being more prominent, the crypto world is looking for self-custody and the ability to trade its assets without handing them over to a centralised party to gain control of them. Dydx is one of the new blessings to this industry as it brings the security features of a DEX for you to be in control of your assets with the ability to trade perpetuals both long and short with the ability to use margin.

In my opinion the platform has flawlessly delivered an exceptional crypto derivatives exchange, and fore filled a niche in the market that was previously unmet. Well done, I look forward to seeing how they continue to advance their platform and pioneer the world of DEX perpetual and margin trading.

Having used dydx there are a few aspects I really like about this DEX which make it appealing to use.

-	No gas fees when trading perpetuals or swapping assets.
-	Ability to long and short with high leverage.
-	Earn interest on deposited assets with competitive borrowing rates.

There are also a few things I do not like:

-	Limited selection for margin trading pairs.
-	There is no spot trading (even though I believe they are addressing this in V4).

In the current crypto landscape with CEX’s becoming less secure/trustworthy and KYC being more prominent, the crypto world is looking for self-custody and the ability to trade its assets without handing them over to a centralised party to gain control of them. Dydx is one of the new blessings to this industry as it brings the security features of a DEX for you to be in control of your assets with the ability to trade perpetuals both long and short with the ability to use margin. 

In my opinion the platform has flawlessly delivered an exceptional crypto derivatives exchange, and fore filled a niche in the market that was previously unmet. Well done, I look forward to seeing how they continue to advance their platform and pioneer the world of DEX perpetual and margin trading.

As of the time of writing (May 24, 2023), dYdX, a strong project, is displaying bearish signals. Exchange signals appear bullish, while onchain signals indicate a bearish trend.

With a correlation of 0.87 to Bitcoin, it is safe to say that the performance of BTC is affecting dYdX heavily. Currently, 67% of the project is "Out of the Money," meaning the current price is lower than the average cost. However, Figure 1 illustrates that there has been a significant increase in the "In the Money" ratio over the course of this year.

There is a significant concentration of holdings by large holders, accounting for 92% of the total. These holders have held their positions for over a year, resulting in low daily trade volume (as depicted in Figure 2). Only 4% of the holders have held their positions for less than a month, and the average holder holds their tokens for 1.4 years.

Market Cap Information:
Current Market Cap: $333.9 million
Last 24h Change: -2.92%
52-Week High: $494.64 million (April 19, 2023)
52-Week Low: $110.65 million (June 19, 2022)
All Time High: $1.37 billion (September 30, 2021)

Wallet Holders:
The number of wallet holders with funds has nearly tripled since September 2021. As of May 19, 2023, the 30-Day Average stands at 36,090 addresses, with an activity rate of just 0.69%.

Historical Concentration:
Number of Whales: 14
Whales Concentration: 67.41% (674.12 million DYDX)
The concentration of large holders has remained relatively stable since September 2021 compared to retail investors. Retail investors have shown a slight increase of 0.63% in the last 30 days, but they do not have easy access to dYdX.

The market has experienced significant volatility (with an average of 98% over the last 30 days). However, this volatility has not had a substantial impact on the price of dYdX (as shown in Image 3), which has remained relatively stable around $2, still far below its all-time high.

Address Time Held (30-Day Change)
Hodlers (1Y+): +3.75%
Cruisers (1-12M): +7.48%
Traders (<1M): -53.44%

Ownership (30-Day Change)
Hodlers (1Y+): -0.59%
Cruisers (1-12M): +4.84%
Traders (<1M): -24.68%

Conclusion:
Considering the lack of significant influences on the price of dYdX and the strong belief among holders, it is puzzling that the price has not increased. Image 4 provides some insight into this question. The tokenomics of the project have led to a continuous increase in supply, which was a deliberate choice. There are strong bearish signals, but there's a continues growing interest and adoption in the project and there has been a significant increase in the "In the Money" ratio over the course of the year. These findings leave me with mixed feelings about this analysis, and I would rate it 3 stars.

As of the time of writing (May 24, 2023), dYdX, a strong project, is displaying bearish signals. Exchange signals appear bullish, while onchain signals indicate a bearish trend.

With a correlation of 0.87 to Bitcoin, it is safe to say that the performance of BTC is affecting dYdX heavily. Currently, 67% of the project is "Out of the Money," meaning the current price is lower than the average cost. However, Figure 1 illustrates that there has been a significant increase in the "In the Money" ratio over the course of this year.

There is a significant concentration of holdings by large holders, accounting for 92% of the total. These holders have held their positions for over a year, resulting in low daily trade volume (as depicted in Figure 2). Only 4% of the holders have held their positions for less than a month, and the average holder holds their tokens for 1.4 years.

Market Cap Information:
- Current Market Cap: $333.9 million
- Last 24h Change: -2.92%
- 52-Week High: $494.64 million (April 19, 2023)
- 52-Week Low: $110.65 million (June 19, 2022)
- All Time High: $1.37 billion (September 30, 2021)

Wallet Holders:
The number of wallet holders with funds has nearly tripled since September 2021. As of May 19, 2023, the 30-Day Average stands at 36,090 addresses, with an activity rate of just 0.69%.

Historical Concentration:
- Number of Whales: 14
- Whales Concentration: 67.41% (674.12 million DYDX)
The concentration of large holders has remained relatively stable since September 2021 compared to retail investors. Retail investors have shown a slight increase of 0.63% in the last 30 days, but they do not have easy access to dYdX.

The market has experienced significant volatility (with an average of 98% over the last 30 days). However, this volatility has not had a substantial impact on the price of dYdX (as shown in Image 3), which has remained relatively stable around $2, still far below its all-time high.

Address Time Held (30-Day Change)
- Hodlers (1Y+): +3.75%
- Cruisers (1-12M): +7.48%
- Traders (<1M): -53.44%

Ownership (30-Day Change)
- Hodlers (1Y+): -0.59%
- Cruisers (1-12M): +4.84%
- Traders (<1M): -24.68%

Conclusion:
Considering the lack of significant influences on the price of dYdX and the strong belief among holders, it is puzzling that the price has not increased. Image 4 provides some insight into this question. The tokenomics of the project have led to a continuous increase in supply, which was a deliberate choice. There are strong bearish signals, but there's a continues growing interest and adoption in the project and there has been a significant increase in the "In the Money" ratio over the course of the year. These findings leave me with mixed feelings about this analysis, and I would rate it 3 stars.

Who is DxDY built fot and What do they offer?

DxDy is a Decentralized exchange platform (DEX) for cryptocurrency designed to facilitate spot and derivatives trading. Spot trading occurs on Ethereum's Layer , while derivatives are handled on Layer 2, thereby providing swift and cost-effective trades.

As of today, DxDY boasts between 34 ~ 37 trading pairs. While this might seem modest compared to uniswapV3's 1675 pairs or Sushiswap's 487 pairs, it's worth noting that DxDy concentrates on the most sought-after high-volume trading pairs, predominantly focusing on DeFi and Layer 1 tokens.

DxDy's primary purpose is to cater to the derivatives trading market, which typically comprises seasoned traders who understands risks associated with leverage. The core team acknowledges the intense competition in spot trading, but they see it as a avenue to generate immediare revenue. Nonetheless, this DEX targets traders who deal with derivatives and emply leverage. DxDy offers up to 25x which might seem low compared to other exchanges that offer up to 150x.

Therefore, potential users should be aware of these limitations when choosing DxDy for their trading needs.

Who is DxDY built fot and What do they offer?

DxDy is a Decentralized exchange platform (DEX) for cryptocurrency designed to facilitate spot and derivatives trading. Spot trading occurs on Ethereum's Layer , while derivatives are handled on Layer 2, thereby providing swift and cost-effective trades.

As of today, DxDY boasts between 34 ~ 37 trading pairs. While this might seem modest compared to uniswapV3's 1675 pairs or Sushiswap's 487 pairs, it's worth noting that DxDy concentrates on the most sought-after high-volume trading pairs, predominantly focusing on DeFi and Layer 1 tokens.

DxDy's primary purpose is to cater to the derivatives trading market, which typically comprises seasoned traders who understands risks associated with leverage. The core team acknowledges the intense competition in spot trading, but they see it as a avenue to generate immediare revenue. Nonetheless, this DEX targets traders who deal with derivatives and emply leverage. DxDy offers up to 25x which might seem low compared to other exchanges that offer up to 150x. 

Therefore, potential users should be aware of these limitations when choosing DxDy for their trading needs.

CryptoMoon

As major exchanges are currently looking at KYC and crypto traders take a stance on anonymity/non-KYC, dYdX serves as an excellent platform for perpetual traders along with 20x leverage on Ethereum.  dYdX allows for trading while maintaning ownership of funds, as the saying goes "not your keys, not your coins".

dYdX is currently also on iOS, opening up even larger space for potential traders to onboard their platform with Bybit recently announcing KYC requirements in order for depositing funds into the exchange for Spot or Perps trading.

However there is a lack of coins available for trading, currently only offering 37 coins compared to larger players like Bybit and Binance with over hundreds of coins available for trading perps and spot.

If you are a trader looking for no KYC, zero fees for deposits and withrdrawals, dYdX is one to look at for onchain trading. However the lack of tokens available to trade remains an issue, hence the 4 stars.

As major exchanges are currently looking at KYC and crypto traders take a stance on anonymity/non-KYC, dYdX serves as an excellent platform for perpetual traders along with 20x leverage on Ethereum.  dYdX allows for trading while maintaning ownership of funds, as the saying goes "not your keys, not your coins".

dYdX is currently also on iOS, opening up even larger space for potential traders to onboard their platform with Bybit recently announcing KYC requirements in order for depositing funds into the exchange for Spot or Perps trading. 

However there is a lack of coins available for trading, currently only offering 37 coins compared to larger players like Bybit and Binance with over hundreds of coins available for trading perps and spot. 

If you are a trader looking for no KYC, zero fees for deposits and withrdrawals, dYdX is one to look at for onchain trading. However the lack of tokens available to trade remains an issue, hence the 4 stars.

Adrian

When it comes to trading crypto on decentralized exchange, there are not a lot of choices. GMX, Gains Network, and dYdX are the choices that I'm aware of. Unlike other decentralized exchanges they use order books system which allow for lower fees than bounding curves-based DEXes. Additionally, all 3 of those offers margins to short and go long which is very important for traders.

There are slight differences between all 3 of those, for example the margin leverage available (GMX up to 50X, dYdX 20X, Gains up to 150X), the crypto-currencies available (Gains has 91 pairs listed, GMX 4 pairs, dYdX 37 pairs), and the fees (dYdX no fees at the moment, Gains @ 0.08%, GMX 0.1%).  Daily trade volume is $41M on Gains, $65M on GMX, and $400M  non dYdX.

Overall, if you are a trader, dYdX is worth a look.

When it comes to trading crypto on decentralized exchange, there are not a lot of choices. GMX, Gains Network, and dYdX are the choices that I'm aware of. Unlike other decentralized exchanges they use order books system which allow for lower fees than bounding curves-based DEXes. Additionally, all 3 of those offers margins to short and go long which is very important for traders. 

There are slight differences between all 3 of those, for example the margin leverage available (GMX up to 50X, dYdX 20X, Gains up to 150X), the crypto-currencies available (Gains has 91 pairs listed, GMX 4 pairs, dYdX 37 pairs), and the fees (dYdX no fees at the moment, Gains @ 0.08%, GMX 0.1%).  Daily trade volume is $41M on Gains, $65M on GMX, and $400M  non dYdX.

Overall, if you are a trader, dYdX is worth a look.

Crypto Rookies

dYdX is a decentralized exchange platform for cryptocurrency margin trading. "Oh really, so what?". Well, let me spotlight that for you!

dYdX started in 2017 as a layer 1 on Ethereum blockchain. It has since expanded its offerings to include margin and perpetual trading for various cryptocurrencies. Traders can now choose between two experiences: Layer 1 dYdX (on Ethereum) and Layer 2 dYdX (Starknet), shown in image 1&2. Additionally, lending and borrowing services have been introduced to decentralize the entire trading experience.

What does this mean in practice? When you deposit collateral to open a leveraged trading position, you're borrowing from a decentralized liquidity pool funded by other traders. And here's a cool thing: dYdX doesn't charge any fees for deposits or withdrawals!

Fun fact: The name "dYdX" comes from the equation dy/dx, a mathematical notation for a derivative that measures rate of change. Makes sense now you know more about the project right?

It's time to find out who is behind dYdX...*

To begin with, it's important to understand that there are two distinct organizations associated with dYdX: the dYdX Foundation and dYdX Trading Inc.
The dYdX Foundation is a project DAO based in Switzerland, with the goal of supporting and advancing the development of the dYdX Protocol project, including its ecosystem and technical aspects. As a non-profit entity, any income or commissions earned are received by dYdX Trading Inc. In the typical fashion of the cryptocurrency industry, the foundation holds responsibility for the project and the issuance of the token, while the Trading Inc. team may sever ties with the protocol at any time.
On the other hand, dYdX Trading Inc. is registered in San Francisco and is the owner of the project's website interface and technologies such as smart contracts, order book, NFTs, and others.
Thus, while Trading Inc. (developers) own everything related to the project, it is the Foundation (DAO) that holds responsibility for its success.

Team*
The project team consists of more than 40 people, including: salesmen, lawyers, marketing "department" and all-round consultants.
There is no detailed information about the team, so we will limit ourselves to the creator.
The CEO (and founder) is Antonio Giuliano, a "Software Engineer" (MongoDB, Coinbase, Uber). Nothing special, an average developer.


Investors*
The funding history of dYdX Trading Inc. is quite impressive, with four rounds of financing that have raised a total of $87 million, including a last round that closed at $65 million. The company has secured investment from a range of venture funds, including 3AC, Paradigm.
It is worth noting that the project was developed over a period of four years before the token launch, which is a significant amount of time in the fast-moving world of cryptocurrency. The company raised $2 million in its first round of funding back in 2017, which is a testament to the confidence that investors have shown in the project over the years.
While the CEO has not disclosed the project's valuation, he has emphasized the importance of the Chinese market and the company's long-term growth strategy. With 277 million tokens allocated to investors, which is equivalent to 27.7% of the total token supply of 1 billion, the company seems well-positioned to continue its growth trajectory.
Why bother with geeks, right? They're just doing their thing, and as long as they're doing it well, that's all that matters.  But in other categories, we'll take a closer look at the numbers, because they definitely deserve to be studied.

If you are interested about the journey of the dYdX team, I recommend reading the article from medium written by Antonio Juliano (Founder), called "The History of dYdX (so far)" which delves into his experiences and endeavors dating back to 2015-2016.

Source:

***It's time to find out who is behind dYdX...***

To begin with, it's important to understand that there are two distinct organizations associated with dYdX: the dYdX Foundation and dYdX Trading Inc.
The dYdX Foundation is a project DAO based in Switzerland, with the goal of supporting and advancing the development of the dYdX Protocol project, including its ecosystem and technical aspects. As a non-profit entity, any income or commissions earned are received by dYdX Trading Inc. In the typical fashion of the cryptocurrency industry, the foundation holds responsibility for the project and the issuance of the token, while the Trading Inc. team may sever ties with the protocol at any time.
On the other hand, dYdX Trading Inc. is registered in San Francisco and is the owner of the project's website interface and technologies such as smart contracts, order book, NFTs, and others.
Thus, while Trading Inc. (developers) own everything related to the project, it is the Foundation (DAO) that holds responsibility for its success.

- ***Team***
The project team consists of more than 40 people, including: salesmen, lawyers, marketing "department" and all-round consultants.
There is no detailed information about the team, so we will limit ourselves to the creator.
The CEO (and founder) is Antonio Giuliano, a "Software Engineer" (MongoDB, Coinbase, Uber). ***Nothing special, an average developer.***


- ***Investors***
The funding history of dYdX Trading Inc. is quite impressive, with four rounds of financing that have raised a total of $87 million, including a last round that closed at $65 million. The company has secured investment from a range of venture funds, including ***3AC***, Paradigm.
It is worth noting that the project was developed over a period of four years before the token launch, which is a significant amount of time in the fast-moving world of cryptocurrency. The company raised $2 million in its first round of funding back in 2017, which is a testament to the confidence that investors have shown in the project over the years.
While the CEO has not disclosed the project's valuation, he has emphasized the importance of the Chinese market and the company's long-term growth strategy. With 277 million tokens allocated to investors, which is equivalent to 27.7% of the total token supply of 1 billion, the company seems well-positioned to continue its growth trajectory.
________
Why bother with geeks, right? They're just doing their thing, and as long as they're doing it well, that's all that matters.  But in other categories, we'll take a closer look at the numbers, because they definitely deserve to be studied.

*If you are interested about the journey of the dYdX team, I recommend reading the article from medium written by Antonio Juliano (Founder), called "The History of dYdX (so far)" which delves into his experiences and endeavors dating back to 2015-2016.*

Source: <https://antonio-dydx.medium.com/the-history-of-dydx-so-far-68bf46789f86>

dYdX DYDX

DEX with Margin Trading

Into the playground