DYDX
$0.68
dYdX (DYDX) Price
$0.68
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dYdX (DYDX) Price Today
The live price of dYdX is 0.68 USD. In the past 24 hours, the trading volume of dYdX was 16.4M USD, up by 1.53%. The current price has decreased by -0.53% from its 7-day high of 0.68 USD, and increased by 13.70% from its 7-day low of 0.59 USD. With a circulating supply of 958,342,751.00 DYDX, the market cap of dYdX is currently 488.3M USD, down by 0% in the last 24 hours. dYdX currently ranks #175 by market capitalization among cryptocurrencies.
dYdX (DYDX) Market Data
Market Cap
$533.4M
24h Volume
$16.4M
Circulating Supply
782.6M DYDX
Maximum Supply
1B DYDX
Fully Diluted Market Cap
$605M
Liquidity Indicator
3.08%
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About dYdX (DYDX)
What Is dYdX (DYDX) and How Does It Work?
dYdX (DYDX) is a decentralized exchange (DEX) that specializes in perpetual futures trading, offering advanced tools and deep liquidity similar to centralized exchanges but with the benefits of self-custody. Instead of using automated market makers, dYdX runs on an order book model that allows traders to place precise limit, market, and stop-loss orders. This setup makes it popular among professional traders who want CEX-level speed and features within a decentralized environment.
Originally launched on Ethereum, dYdX transitioned to StarkWare’s Layer-2 to reduce fees and boost efficiency, before evolving further into its own dYdX Chain in October 2023. Built with the Cosmos SDK and secured by delegated proof-of-stake validators, the dYdX Chain decentralizes the entire trading engine, including the order book and matching. This move brought faster, lower-cost transactions, greater scalability, and interoperability with other Cosmos ecosystem projects through IBC (Inter-Blockchain Communication).
The DYDX token powers the platform by securing the chain through staking, enabling governance, and rewarding participants. Holders can delegate tokens to validators to help secure the network and earn USDC-based rewards from trading fees. They also vote on governance proposals, such as new market listings or protocol upgrades, ensuring the ecosystem remains community-driven. With most of the legacy ethDYDX already migrated to the new chain, DYDX now functions as the core token behind one of DeFi’s most advanced perpetual futures platforms.
When Did dYdX Launch?
dYdX was founded in July 2017 by Antonio Juliano, formerly a software engineer at Coinbase and Uber, as a decentralized protocol to enable margin trading, lending, and borrowing on Ethereum. The early version (v1) launched in 2018, introducing flash loans and DEX aggregation, followed by the Solo margin protocol in 2019 with its own order book and the rollout of perpetual BTC futures markets.
In April 2021, dYdX moved to Layer-2 using StarkWare’s StarkEx for greater speed and lower fees, and in August 2021 the DYDX token (ERC-20, often called ethDYDX) was released. Finally, on October → November 2023, dYdX launched its fully decentralized Cosmos-based blockchain, the dYdX Chain (v4), completing its evolution into a fully decentralized exchange.
dYdX Roadmap Highlights
- July 2017 – dYdX founded by Antonio Juliano
- 2018 – Launch of v1: Margin protocol with flash loans and DEX aggregator (Expo)
- 2019 – Release of Solo margin trading protocol and own on-chain order book; debut of Bitcoin perpetual markets
- April 2021 – Move to StarkWare Layer-2 (StarkEx) for scalable, gas-efficient perpetual trading
- August 2021 – Launch of the DYDX governance token (ethDYDX) with the DYDX Foundation
- October–November 2023 – Launch of dYdX Chain (v4), a fully decentralized Cosmos-based blockchain, marking full decentralization
What Are the Main Use Cases of DYDX Token?
The DYDX token is the backbone of the dYdX Chain, serving three core purposes: security, governance, and incentives. Holders can stake or delegate DYDX to validators, securing the network and earning USDC rewards generated from trading fees. They also participate in governance, voting on proposals for new markets, protocol upgrades, and community initiatives. Additionally, DYDX aligns incentives by rewarding traders, validators, and stakers, creating a sustainable ecosystem that balances liquidity, security, and growth.
On BingX Spot Market, you can easily trade DYDX by selecting the DYDX/USDT pair, entering the amount you want to buy or sell, and confirming the order. The platform provides real-time price data, low fees, and fast execution to help you trade DYDX with confidence.
What Is dYdX Tokenomics?
dYdX has a fixed total supply of 1 billion DYDX tokens, minted on August 3, 2021.
DYDX Token Distribution
- 50% (500 million DYDX) allocated to the Community, comprising:
- 26.1% (≈261.13 million DYDX): Community Treasury
- 14.5% (≈144.69 million DYDX): Trading Rewards
- 5% (≈50.31 million DYDX): Retroactive Mining Rewards for early users
- 3.3% (≈32.79 million DYDX): Liquidity Provider Rewards
- 0.6% (≈5.78 million DYDX): USDC Liquidity Staking Rewards
- 0.5% (≈5.29 million DYDX): Safety Staking Pool
- 27.7% (≈277.30 million DYDX) allocated to Past Investors of dYdX Trading Inc.
- 15.3% (≈152.70 million DYDX) allocated to Founders, Employees, Advisors, and Consultants
- 7% (70 million DYDX) reserved for Future Employees and Consultants
What is dYdX Chain v4 and How Is It Different From v3?
dYdX Chain v4 is the latest evolution of the protocol, launched in late 2023 as a standalone blockchain built with the Cosmos SDK and secured by delegated proof-of-stake (DPoS) consensus. Unlike earlier versions, v4 decentralizes every core component, including the order book, matching engine, and governance, through a network of validators. This makes dYdX fully permissionless and censorship-resistant, while still offering fast transactions, low fees, and support for advanced perpetual futures trading.
The main difference from v3 is that v3 operated on Ethereum Layer-2 (StarkEx), where order books and matching were run off-chain by dYdX Trading Inc. While v3 reduced gas fees and improved scalability compared to Ethereum mainnet, it wasn’t fully decentralized. With v4, governance, staking, and trading all happen natively on the dYdX Chain, with USDC as the settlement currency and DYDX tokens securing the network. This shift marks dYdX’s transition from a hybrid Layer-2 protocol to a truly decentralized, community-governed exchange.
How to Migrate or Bridge ethDYDX to the dYdX Chain
To migrate ethDYDX (the old ERC-20 token on Ethereum) to the native DYDX token on the dYdX Chain, you use the official dYdX Ethereum–Cosmos bridge. Connect your Ethereum wallet, such as MetaMask, and your Cosmos-compatible wallet (like Keplr), specify the amount of ethDYDX you want to convert, and confirm the transaction. The bridge locks your ERC-20 tokens on Ethereum and issues an equivalent amount of DYDX on the dYdX Chain. Once migrated, your tokens can be staked, delegated, or used in governance directly on the new chain.
dYdX (DYDX) FAQs
What Blockchain Network Does dYdX DEX Operate on?
The dYdX decentralized exchange (DEX) now operates on its own Cosmos-based blockchain, known as the dYdX Chain. Launched in late 2023, the chain was built using the Cosmos SDK and secured by a delegated proof-of-stake (DPoS) consensus model. This design makes dYdX fully decentralized, as all core functions, including the order book and matching engine, run on-chain, with validators maintaining security and governance. Through IBC (Inter-Blockchain Communication), the dYdX Chain also connects seamlessly with other networks in the Cosmos ecosystem, while using USDC as its primary settlement asset.
How to Store DYDX Tokens Securely
The simplest and most convenient way to store your DYDX tokens is directly on BingX. By keeping them in your BingX account, you gain instant access to spot trading, futures, and other platform features without worrying about managing private keys. BingX also employs advanced security measures like cold storage, proof-of-reserves, and account protection features, making it a reliable option for active traders who want both safety and ease of use.
For long-term holders who prefer self-custody, DYDX can be stored in non-custodial wallets that support the dYdX Chain, such as Keplr, Cosmostation, or Leap Wallet. These wallets give you full control over your private keys and allow you to stake DYDX or participate in governance directly on-chain. For maximum protection, you can pair them with hardware wallets like Ledger, ensuring your tokens remain offline and safe from online threats. This approach is ideal if you prioritize security and plan to hold DYDX for the long run.
Is dYdX (DYDX) a Good Investment?
dYdX (DYDX) stands out as one of the leading decentralized exchanges for perpetual futures, combining the liquidity and advanced tools of centralized exchanges with the transparency and security of DeFi. Its migration to the Cosmos-based dYdX Chain marked a major milestone, making the protocol fully decentralized, where the order book, matching engine, and governance all run on-chain. This shift enhances trust, scalability, and censorship resistance, while the use of USDC as the settlement currency strengthens stability and accessibility for global traders.
The DYDX token itself adds value through its roles in staking, governance, and network security. Stakers earn USDC rewards from trading fees, creating real yield backed by exchange activity, while governance ensures token holders shape the protocol’s future. With growing user adoption, high trading volumes, and strong community involvement, DYDX positions itself as a long-term player in the derivatives trading space. For investors, this combination of utility, decentralization, and revenue-sharing potential makes DYDX a compelling asset within the DeFi ecosystem.
Information source
dYdX (DYDX) Price Converter
DYDX to USD
1 DYDX = $ 0.68
DYDX to VND
1 DYDX = ₫ 17,992.23
DYDX to EUR
1 DYDX = € 0.57
DYDX to TWD
1 DYDX = NT$ 20.56
DYDX to IDR
1 DYDX = Rp 11,297.15
DYDX to PLN
1 DYDX = zł 2.46
DYDX to UZS
1 DYDX = so'm 8,384.79
DYDX to JPY
1 DYDX = ￥ 100.48
DYDX to RUB
1 DYDX = ₽ 56.82
DYDX to TRY
1 DYDX = ₺ 28.22
DYDX to THB
1 DYDX = ฿ 21.73
DYDX to UAH
1 DYDX = ₴ 28.15
DYDX to SAR
1 DYDX = ر.س 2.55
How to Buy dYdX (DYDX)
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Disclaimer:
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