dYdX Research Hub | DYDX information, history and analysis

DYDX is a governance token of the dYdX platform – an open-source, decentralized exchange built on the Ethereum blockchain that aims to provide open, secure, and robust financial products. To help everyone know more about DYDX to have better investment decisions, VNDC presents a comprehensive research study on the dYdX token (DYDX) and its role in the dYdX platform.

What is dYdX?

dYdX is an open-source, decentralized exchange built on top of Ethereum with the aim of generating open, safe, and reliable financial products. By combining the advantages of both centralized and decentralized exchanges, dYdX provides a financial platform with tremendous performance and speed while ensuring security and transparency.

dYdX’s mission is to build a robust ecosystem that allows users to execute supporting features and Derivatives such as Spot, Margin, and Perpetuals trading. Each dYdX section seeks to further the platform’s future growth and decentralization while also enhancing the user experience.

Development team

dYdX was launched in June 2018 and is developed by technological gurus and experienced software engineers from the world’s biggest companies. Some of the key members are:

• Antonio Juliano – Founder: Formerly a software engineer at Uber and Coinbase.
• Brendan Chou – Software Engineer: Used to work at Bloomberg and Google.
• Phillip Goldberg – Software Engineer: Used to work at Consensys.

Some outstanding features of dYdX

• dYdX Margin Trading Protocol: allows users to increase profits when the price falls or trade with up to 10x leverage (asset value) with Perpetual contracts. Furthermore, by providing low-risk collateralized loans for margin trading, this functionality allows customers to trade on margin.
• dYdX Options Protocol: is used to help reduce the risk for investors and allow them to buy, sell, trade any ERC-20 token easily.
• Lending & Borrowing: this feature is designed to maximize revenues by allowing users to borrow directly on the exchange and lenders to deposit assets in order to receive interest.
• Portfolio: allows users to view, manage portfolios and track the investment performance of tokens.

The underlying structure of dYdX

The platform’s smart contract, dYdX, is built on Ethereum’s Layer 2 and leverages STARKWARE technology based on the Zero-Knowledge Rollups algorithm. Users may make transactions using dYdX’s Starkware solution by connecting to the platform and depositing monies into smart contracts—furthermore, this technology aids in the security and privacy of individuals.

By allowing users to transact directly on the platform, dYdX is able to manage faster, bigger, and more cost-effective transaction throughput (Layer 2). Transactions on dYdX are immediately completed and confirmed on the blockchain within hours.

dYdX’s Advantages

• Low transaction prices and no gas fees: dYdX allows users to transact directly on the platform (Layer 2) without paying miners fees.
• Safety, security: STARKWARE technology is based on the Zero-Knowledge Rollups algorithm, which helps to secure user safety and privacy.
• Fast transaction speed: All of the preceding transactions are completed in a matter of seconds.
• Mobile-friendliness: User interface is clean and simple to use on mobile devices.
• Cross-chain Margin: dYdX allows you to leverage numerous market positions from a single account.

What is DYDX token?

The dYdX token (DYDX) is a utility and governance token in the dYdX ecosystem that runs on the Ethereum platform and can be used for:

• Staking: to provide liquidity for the protocol.
• Payout: to make monthly in-app bonus payments.
• Voting: to participate in governance activities and vote on platform decisions.

Token Allocation

DYDX has a total supply of 1,000,000,000 DYDX. This amount will be distributed over the first 5 years as follows:

• Community: 50% – 500,000,000 DYDX
• Trading Bonus: 25% – 250,000,000 DYDX
• Trial User Reward: 7.5% – 75,000,000 DYDX
• Liquidity Provider Bonus: 7.5% – 75,000,000 DYDX
• Community Fund: 5% – 50,000,000 DYDX
• Liquidity Staking Pool: 2.5% – 25,000,000 DYDX
• Safety Staking Pool: 2.5% – 25,000,000 DYDX
• Investor: 27.73% – 277,295,070 DYDX
• Staff and consultants: 15.27% – 152,704,930 DYDX
• Future project staff and consultants: 7% – 70,000,000 DYDX

dYdX token (DYDX) is now available on VNDC Wallet; users can perform the following features with DYDX:

• Off-chain transactions: Send, receive DYDX with other users on the same system.
• Exchange: Swap from VNDC to DYDX and vice versa.