dYdX (DYDX) Crypto Exchange
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Why exchange dYdX (Ethereum) (DYDX) on ChangeNow
The average time for exchange is about 5 minutes. You can track the crypto swap progress on the exchange page.
- 98%Triumph Rate🔥Swaps completed with the better exchange rate or deviated from estimate for less than 0.5%
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Satisfied Clients - 3 minAverage Exchange Time
- 980Currencies available for exchange
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What is DYDX
DYdX is an Ethereum-based decentralized margin trading platform. It was founded in 2017 by [Antonio Juliano](https://www.linkedin.com/in/antoniojuliano/), a former Coinbase engineer. DYdX aims to create a next-generation exchange whilst providing traders all over the world with enhanced financial products. The platform allows users to lend and borrow assets; margin and spot trade.
DYdX contains two different levels, and each of them is dedicated to a specific type of trading. Level 1 is used for margin trading, while Level 2 is powered by StarkWare and is utilized for instant decentralized perpetual trading. DYDX is the platform’s native token that is mostly used for governance. DYDX holders can propose changes to the Layer-2 protocol, including token listing requests, risk parameter settings, and staking pool payouts. Moreover, DYDX holders can receive a number of rewards including the Retroactive Mining Reward, a trading reward, that encourages traders to use the dYdX Layer-2 protocol, and fee discounts, which are calculated according to the number of tokens in the holders’ wallets.
In June 2022, dYdX [announced](https://dydx.exchange/blog/dydx-chain) the development of the dYdX chain, explaining that dYdX V4 will be built as a standalone blockchain on the Cosmos SDK and Tendermint Proof-of-stake consensus protocol.
