About dYdX
dYdX is a decentralized derivatives exchange for non-custodial, leveraged trading in crypto perpetual futures. Traders post collateral and trade without a centralized intermediary. Antonio Juliano founded the project in 2017 as a decentralized margin trading and lending protocol on Ethereum. It later shifted its focus to derivatives. The DYDX governance token, an ERC-20, launched in August 2021. A total of 1 billion tokens were minted, scheduled to unlock over roughly five years. The dYdX Chain, the project's fourth major version, produced its genesis block on October 26, 2023. It is a purpose-built Cosmos SDK blockchain using CometBFT proof-of-stake consensus, with an off-chain order book and on-chain settlement. DYDX is the native Layer-1 token of this chain, used for staking to secure the network, governance of protocol parameters, and receiving a share of trading fees. Staking rewards to validators and delegators are paid in USDC from trading fees rather than through new token issuance. The total supply remains hard-capped at 1 billion DYDX with no ongoing minting documented.
Arcus fixes accounting bug, covers approximately $2 million shortfall from treasury
Arcus' swift bug resolution and treasury coverage highlight its commitment to user trust but raise concerns about system robustness and future resilience.
Arcus introduces multi-asset collateral for perpetuals trading
Fomo co-founder rules out new token or Pump.fun rival, citing a market already flooded with coins
Fomo's decision to avoid launching a new token highlights a strategic focus on sustainable trading growth over speculative token proliferation.
Arcus halves perpetuals fee tier thresholds as beta discounts end
The changes may benefit mid-sized traders but could increase costs for smaller accounts, impacting their trading strategies and profitability.
Arcus joins Robinhood Wallet’s stock token lineup as volume tops $5 billion
The integration of Arcus with Robinhood Wallet enhances 24/7 blockchain-based stock trading, potentially disrupting traditional market hours.
GMGN launches public beta for perpetual trading product
GMGN's entry into the derivatives market could disrupt established players by offering competitive fees and yield incentives, reshaping user dynamics.
A sourced map of dYdX's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on dYdX and the wider market, hosted by our team, will appear here once episodes are live.