dYdX price today, DYDX to USD live, marketcap and chart | CoinMarketCap

To find out even more about this project, check out our deep dive of dYdX .

What Is DYDX (dYdX)?

DYDX ( dYdX ) is the administration token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the process of layer 2 and allows traders, fluidity providers and partners to contribute to the definition of the protocol ‘s future as a community. Token holders are granted the right to propose changes on the dYdX ’ s layer 2, and are presented with an opportunity to profit through nominal venture and trade fee discounts. Built on Starkwire ’ s StarkEx scalability engine, layer 2 is used for trade of cross-margined perpetuals on the platform. The scale solution allows dYdX to increase transaction speed, eliminate natural gas costs, reduce trade fees and lower​​ minimum deal sizes on the protocol.

An open-source platform with ache shrink functionality, dYdX is designed for users to lend, adopt and trade crypto assets. Although dYdX supports point trade, the independent focus of the platform is on derivatives and margin deal. The substitute was founded in 2017 with over $ 10 million in seed speculation capitalistic fund and went hot in 2019. DXDY nominal Initial coin offer ( ICO ) was on September 9th 2021 .

Who Are the Founders of dYdX?

Antonio Juliano — an know programmer with a background in blockchain technology is the founder and CEO of DYDX. He first base entered the crypto quad in 2015 upon getting a problem as a software engineer at Coinbase — a cryptocurrency change platform. As a Princeton University graduate with a degree in computer skill, Antonio Juliano embarked on his entrepreneurial travel and founded dYdX in early 2017. Zhuoxun Yin is question of operations at dYdX. Не previously worked at Nimble — a social sales and marketing CRM and Bain & Company — a consulting service. Zhuoxun Yin studied at University of Queensland and has a knight bachelor ‘s degree in department of commerce .

What Makes dYdX Unique?

dYdX is a cryptocurrency commute that combines advanced fiscal tools with decentralization. The platform supports margin trade — a fiscal product enabling investors to increase their exposure to digital assets through leverage. dYdX ’ mho isolated margin allows users to assign particular funds in the account as separate of a craft, while cross-margin utilizes all the assets a trader keeps on the platform. Perpetuals — a type of futures contract that does not have a predetermined sell date, is besides available for deal on dYdX. The exchange presently offers a maximum of 25x leverage on synthetic assets with no death date. Upon depositing funds into the account, dYdX users mechanically begin to earn matter to, as their assets are entered into the ball-shaped lending pool specific to each cryptocurrency. The platform guarantees security for lenders by ensuring that borrowers have enough collateral in their score at all times. Borrowing on dYdX enables users to instantly acquire any asset available on the chopine using funds in their possession as collateral for the lend. dYdX besides features an order bible computer architecture in contrast to automated market makers such as Uniswap. dYdX Layer 2 increases scalability of the network through use of a form of zero-knowledge rollup — zkSTARKS. The engineering receives proofs, while validating a batch of transactions off-chain. These proofs are then sent back to the blockchain, where they are verified by a chic shrink. zkSTARKS makes it possible to remove expensive computations from the mainnet with no sacrifices in decentralization. together, with trade and fluidity provider rewards, dYdX introduces retroactive mining benefits, allowing the chopine to show taste to historic users and incentivize them to trade on layer 2 protocol. The holders can venture their tokens in dYdX ’ south condom and liquidity pools. While the base hit pool provides the platform with a guard net in casing of a deficit consequence, the liquid pool serves to attract high timbre market makers.

Learn about XCM — the native nominal of CoinMetro exchange. Check out Huobi Token ( HT ) — the native nominal of cryptocurrency exchange Huobi Global. Look into Tidex Token ( TDX ) — the native of cryptocurrency exchange ​​Tidex .

How Many DYDX Coins Are There in Circulation?

There is a entire of 1,000,000,000 DYDX minted, which will be distributed over a five year period, starting on August 3rd 2021. 50.00 % of the provide will go to the community ; 25.00 % will be used as trade rewards ; 7.50 % will be set aside for retroactive mine rewards, 7.50 % will be assigned for fluidity provider rewards ; 5.00 % will go to a residential district treasury ; 2.50 % will be dedicated to users staking USDC to a liquid staking pool and 2.50 % — to users staking DYDX to a safety staking pool. 27.73 % will be set aside for past investors.15.27 % will go to founders, employees, advisors, and consultants.7.00 % will be kept for future employees and consultants of dYdX .

How Is the dYdX Network Secured?

DYDX is an ERC-20 token deployed on the Ethereum mainnet. dYdX ’ mho layer 2 scale solution is built on Starkwire ’ s ZK-STARKS engineering and relies on Ethereum blockchain to verify transaction proof. When Will DYDX Trading Begin ? DYDX token foremost became available for purchase in September 2021.

Can DYDX Hit $50?

During the two instances of luminary Bitcoin price drops over the calendar month of September 2021, DYDX did not experience a considerable decrease in prize. Furthermore, DYDX managed to double its value and went from $ 10.23 to $ 22.66 in a short over a calendar month. Taking into account that dYdX is soon one of the leading decentralize exchanges that has already established itself in the crypto populace, its newly released administration keepsake has a good prospect in maintaining the monetary value growth and reaching $ 50 .

Where Can You Buy DYDX?

DYDX is presently available for buy on the following exchanges : Binance, Huobi Global, FTX, KuCoin, Gate.io, Kraken, Poloniex, Uniswap ( V3 ), ​​ OKEx, LBank, Sushiswap, Crypto.com Exchange, 0x Protocol, XT.COM, BitZ, WhiteBIT, 1inch Exchange, WOO Network, CoinDCX, Deepcoin, Cryptology, BKEX, DigiFinex, Pionex, BW.com, BitMart, AEX, ZBG, MEXC, BiONE, Bibox, Hoo, Hotbit, Decoin, Bitrue, HitBTC, Tokocrypto, Mandala Exchange, CoinW, BigONE, ZT, AOFEX, WBF Exchange, CoinBene and Bitget. Cryptocurrency newcomer ? You can read more about how to enter the commercialize and how to buy BTC, DYDX or any other token in CoinMarketCap education portal site — Alexandria .

beginning : https://congnghenews.net
Category : TÀI CHÍNH

Related Posts

Trả lời

Email của bạn sẽ không được hiển thị công khai.