What is dYdX (DYDX)? How to buy DYDX token

What is dYdX?

dYdX is an open-source decentralized protocol built on the Ethereum and 0x blockchain, mainly providing peer-to-peer margin trading and derivatives. Besides, the dYdX platform also supports Spot trading and Perpetuals.

On the dYdX platform, users can experience the following product services:

• Leverage: dYdX Margin Trading supports trading with up to 10x leverage (asset value)
• Borrowing and lending: borrow; or deposit to lend and receive interest
• Portfolio management: manage and track PnL

Similar to other protocols built on the Ethereum blockchain, dYdX protocol also has:

• Low transaction fees
• Fast deposit/withdrawal process
• Optimized interface
• Trustlessness

Key features of dYdX protocol

• dYdX Margin Trading Protocol: Can be used to profit on downward price movements, or increase leverage; Providing low risk fully collateralized loans for margin trades can provide interest fee on
  long positions; Anyone can margin trade or lend any ERC20 token
• dYdX Options Protocol: Can be used to reduce risk or speculate; Anyone can create, write, buy, or trade any option on any ERC20 token; Each option is represented by its own ERC20 token to allow easy trading

DYDX Token

DYDX is the governance token of the dYdX platform used for the following purposes:

• Staking: to provide liquidity for the protocol
• Rewards: to receive monthly in-app rewards
• Voting: to participate in the project management

Token Specification

• Token Name: dYdX Token.
• Ticker: DYDX.
• Blockchain: Ethereum.
• Token Standard: ERC-20.
• Contract: 0x92d6c1e31e14520e676a687f0a93788b716beff5
• Token Type: Governance.
• Total Supply: 1,000,000,000 DYDX.
• Circulating Supply: 55,700,000 DYDX.

Token Allocation

• Community: 54.7%
• Investors: 25.1%.
• Employees & Consultants of dYdX Trading or Foundation: 13.8%.
• Futures Employees & Consultants of dYdX Trading or Foundation: 6.3%.

DYDX token Price today

How to buy DYDX token

Attlas Exchange will officially list dYdX (DYDX) on 2021/09/09.

Attlasians can easily trade DYDX token at the best prices here.

Summary

Among countless margin trading projects now available on the market, dYdX is the most prominent name as it has achieved outstanding achievements last year. Trading volume on dYdX increased by 40 times from 2019 to 2020 (from $63 million to $2.5 billion). In the near future, dYdX will continue to develop and perfect the product to attract a larger number of users.

Above is information about dYdX (DYDX) compiled by Attlas Exchange. Users are advised to do your own research before making any trading decision.

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