ethDYDX is currently undergoing a migration to enable to the dYdX Chain. You can read more about the migration here. If you want to migrate ethDYDX to dYdX Chain DYDX, to enable staking, security and governance of the dYdX Chain you can use the how-to-bridge guide here.

If you want to read about the new token utility for dYdX Chain DYDX you can read the blog here

ethDYDX (dYdX) is the governance token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the operation of layer 2 and allows traders, liquidity 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 benefit through token staking and trading fee discounts.

Built on Starkwire’s StarkEx scalability engine, layer 2 is used for trading of cross-margined perpetuals on the platform. The scaling solution allows dYdX to increase transaction speed, eliminate gas costs, reduce trading fees and lower​​ minimum trade sizes on the protocol.

The exchange was founded in 2017 with over $10 million in seed venture capitalist funding and went live in 2019. DXDY token Initial coin offering (ICO) was on September 9th 2021.

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 upon getting a job as a software engineer at Coinbase — a cryptocurrency exchange platform. As a Princeton University graduate with a degree in computer science, Antonio Juliano embarked on his entrepreneurial journey and founded dYdX in early 2017 .

dYdX is a cryptocurrency exchange that combines advanced financial tools with decentralization. The platform supports margin trading — a financial product enabling investors to increase their exposure to digital assets through leverage. dYdX’s isolated margin allows users to assign particular funds in the account as part of a trade, 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 selling date, is also available for trading on dYdX. The exchange currently offers a maximum of 20x leverage on synthetic assets.

dYdX Layer 2 increases scalability of the network through use of a form of zero-knowledge rollup — zkSTARKS. The technology 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 smart contract. zkSTARKS makes it possible to remove expensive computations from the mainnet with no sacrifices in decentralization.

Together, with trading and liquidity provider rewards, dYdX introduces retroactive mining benefits, allowing the platform to show appreciation to historical users and incentivize them to trade on layer 2 protocol.

A total of 1,000,000,000 ethDYDX have been minted, and started to become accessible over five (5) years, on August 3rd, 2021, at 15:00:00 UTC.

The five-year allocation of the total supply of ethDYDX was initially as follows:

• 27.7% is allocated to Investors
• 14.5% is allocated to User Trading Rewards
• 15.3% is allocated to Employees and Consultants of dYdX Trading or Foundation
• 5.0% is allocated to Retroactive Rewards
• 5.2% is allocated to Liquidity Provider Rewards
• 7.0% is allocated to Future Employees & Consultants of dYdX
• 24.2% is allocated to Community Treasury
• 0.6% is allocated to Liquidity Staking Pool
• 0.5% is allocated to Safety Staking Pool

Since the launch of ethDYDX, several governance proposals have resulted in changes to the initial allocation. The updated allocation as of the start of Epoch 28 (October 24, 2023) is reflected in the pie chart below.

The updated allocation of ethDYDX tokens as of the start of Epoch 28 (October 24, 2023) is as follows:

DYDX is an ERC-20 token deployed on the Ethereum mainnet. dYdX’s layer 2 scaling solution is built on Starkwire’s ZK-STARKS technology and relies on Ethereum blockchain to verify transaction proofs.

DYDX token first became available for purchase in September 2021.

During the two instances of notable Bitcoin price drops over the month of September 2021, DYDX did not experience a considerable decrease in value. Furthermore, DYDX managed to double its value and went from $10.23 to $22.66 in a little over a month. Taking into account that dYdX is presently one of the leading decentralized exchanges that has already established itself in the crypto world, its newly released governance token has a good chance in maintaining the price growth and reaching $50.

DYDX is currently available for purchase on the following exchanges: Binance, Huobi Global, 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 newbie? You can read more about how to enter the market and how to buy BTC, DYDX or any other token in CoinMarketCap education portal — Alexandria.

The all-time high of ETHDYDX was 27.78 USD on 2021-09-30, from which the coin is now down 94.81641468682504%. The all-time high price of dYdX (ethDYDX) (ETHDYDX) is 27.78. The current price of ETHDYDX is down 94.81641468682504% from its all-time high.

As of , there is currently 216.00M ETHDYDX in circulation. ETHDYDX has a maximum supply of 0.

The current market cap of ETHDYDX is 311.28M. It is calculated by multiplying the current supply of ETHDYDX by its real-time market price of 1.44.

The all-time low of ETHDYDX was 0 , from which the coin is now up 0%. The all-time low price of dYdX (ethDYDX) (ETHDYDX) is 0. The current price of ETHDYDX is up 0% from its all-time low.

dYdX (ethDYDX) (ETHDYDX) has a market capitalization of $311.28M and is ranked #273 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze dYdX (ethDYDX) (ETHDYDX) price trends and patterns to find the best time to purchase ETHDYDX.