2024-04-08
dYdX is a decentralized cryptocurrency
exchange that focuses on derivatives trading. dYdX
has its own blockhain called dYdX Chain.
dYdX currently is the 4th
largest decentralized crypto exchange by trading volume after Uniswap, Jupiter,
and Raydium. dYdX has similar trading volume to that of Jupiter and Raydium.
dYdX chain developed based on the
Cosmos SDK and Tendermint proof-of-stake consensus protocol.
dYdX founded by Antonio Juliano. He was
born in Pittburgh, Pensylvania in 1993. He used to work at Coinbase as a
software engineer before he founded dYdX.
On Apr 6, 2024, dYdX community voted
91.7% in favor to stake 20 million DYDX tokens from the community treasury.
Community treasury has between 200-240 million tokens and DYDX has a max supply of 1
billion tokens.
The vote intended to increase
decentralization of dYdX chain because there is a surge in dYdX’s trading
activity.
