All you need to know about DYDX

dYdX is a leading decentralized exchange that currently supports perpetual, margin trading, and spot trading, as well as lending, and borrowing. dYdX runs on smart contracts on the Ethereum blockchain and allows users to trade with no intermediaries.

dYdX Features

Perpetuals on Layer 2 –

  • Perpetuals trading with up to 25x leverage
  • Pairs offered: BTC-USD, ETH-USD, LINK-USD, and more

Spot / Margin Trading on Layer 1

  • Currently one of the highest volume and most liquid DEXs
  • Spot trading + Margin trading with up to 5x initial leverage (Pairs offered: ETH-DAI, ETH-USDC, and DAI-USDC)

Borrowing on Layer 1

  • Currently support ETH, DAI, and USDC
  • Minimum starting account collateralization of 125%, which must be maintained above 115% to prevent liquidation
  • Borrow directly to your wallet

Lending on Layer 1

  • Deposit funds into your Margin or Spot Account to start lending funds to the protocol
  • Currently support ETH, DAI, and USDC
  • No waiting period for matching
  • No minimum loan period
  • Interest starts accruing immediately and is paid out every block
  • Rates are dynamic and based on utilization

DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol. By enabling shared control of the protocol, DYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced Protocol.

DYDX enables a robust ecosystem around governance, rewards, and staking — each designed to drive future growth and decentralization of dYdX, resulting in a better experience for users.

If you would like to know where to buy dYdX, the top exchanges for trading in dYdX are currently Binance, Huobi Global, Mandala Exchange, OKEx, and FTX.

To know the price of the coins click here

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Dislcaimer

this news and reviews blogs are only to educate, inform and deliver information to the public and is not an investment advice. Nothing should be taken as an offer to buy, sell or hold any cryptocurrency

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