BYDFi is a cryptocurrency trading platform for global investors. It has continued to bring professional, convenient and new trading services to global users since 2019.

The DYDX Token.

2022 年 4 月 22 日

What is DYDX (dYdX)?

DYDX (dYdX) is. the layer 2 protocol governance token of the namesake decentralized non-custodial cryptocurrency exchange. It serves to facilitate the operation of Tier 2 and allows merchants, liquidity providers, and partners to help shape the future of the protocol as a community. Token holders have the right to submit changes to level 2 of dYdX and have the. opportunity to receive discounts on token staking and trading fees. Built on Starkwire’s StarkEx ladder engine, Level 2 is used for cross-margin perpetual trading. on the platform. The scaling solution enables dYdX to increase transaction speed, eliminate gas costs, reduce trading fees, and reduce the minimum transaction size on the protocol. An open-source platform with smart contract functionality, dYdX is designed for users to lend, borrow, and trade cryptocurrencies. Although dYdX supports spot trading, the. platform primarily focuses on derivatives and margin trading. The exchange was founded in 2017 with over $10 million in venture capital funding from seed. and launched in 2019. The DXDY Initial Coin Offer (ICO) token. was on September 9, 2021.

Who are the founders of dYdX?

Antonio Juliano, an experienced programmer with a background in blockchain technology is the founder and CEO of DYDX. He first entered the crypto space in 2015 after landing a job as a software engineer at Coinbase, a cryptocurrency exchange. A graduate. in computer science from Princeton University, Antonio Juliano embarked on his entrepreneurial adventure and founded dYdX in early 2017. Zhuoxun Yin is in charge of dYdX operations. He previously worked at Nimble, a social marketing and sales CRM, and Bain and Company — a consulting service. Zhuoxun Yin studied at the University of Queensland and holds a Bachelor of Commerce.

What Makes dYdX Unique?

dYdX is a digital money trade that consolidates progressed monetary apparatuses with decentralization. The stage upholds edge exchanging — a monetary item empowering financial backers to build their openness to advanced resources through influence. dYdX’s secluded edge permits clients to relegate specific assets in the record as a feature of an exchange, while cross-edge uses every one of the resources a dealer keeps on the stage. Perpetuals — a kind of prospects contract that doesn’t have a foreordained selling date, is likewise accessible for exchanging on dYdX. The trade right now offers a limit of 25x influence on engineered resources with no expiry date.

After storing assets into the record, dYdX clients naturally start to procure interest, as their resources are gone into the worldwide loaning pool explicit to every cryptographic money. The stage ensures security for loan specialists by guaranteeing that borrowers have sufficient insurance in their record consistently. Getting on dYdX empowers clients to right away obtain any resource accessible on the stage involving assets in their ownership as insurance for the credit.

dYdX Layer 2 builds versatility of the organization through utilization of a type of zero-information rollup — zkSTARKS. The innovation gets verifications, while approving a cluster of exchanges off-chain. These verifications are then sent back to the blockchain, where they are checked by a shrewd agreement. zkSTARKS makes it conceivable to eliminate costly calculations from the mainnet without any penances in decentralization.

Together, with exchanging and liquidity supplier rewards, dYdX presents retroactive mining benefits, permitting the stage to show appreciation to chronicled clients and boost them to exchange on layer 2 convention. The holders can stake their tokens in dYdX’s wellbeing and liquidity pools. While the wellbeing pool gives the stage a security net if there should arise an occurrence of a deficiency occasion, the liquidity pool draws in great market creators.

What number of DYDX Coins Are There in Circulation?

There is an aggregate of 1,000,000,000 DYDX stamped, which will be circulated more than a long term period, beginning on August third 2021. 50.00% of the inventory will go to the local area; 25.00% will be utilized as exchanging rewards; 7.50% will be saved for retroactive mining rewards, 7.50% will be relegated for liquidity supplier rewards; 5.00% will go to a local area depository; 2.50% will be devoted to clients marking USDC to a liquidity marking pool and 2.50% — to clients marking DYDX to a security marking pool.

27.73% will be saved for past investors.15.27% will go to originators, workers, counselors, and consultants.7.00% will be saved for future representatives and specialists of dYdX.

How Is the dYdX Network Secured?

DYDX is an ERC-20 token conveyed on the Ethereum mainnet. dYdX’s layer 2 scaling arrangement is based on Starkwire’s ZK-STARKS innovation and depends on Ethereum blockchain to confirm exchange verifications.