Crypto:
30601
Bitcoin:
$58.419
% 2.29
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.419
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

dYdX Project Review

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Launched in early 2018, dYdX was one of the first DeFi projects, offering users perpetuals, the most traded product in crypto. It is a leading decentralized exchange (DEX) developer with a mission to create open, secure, and powerful financial products. Operating on Ethereum, dYdX uses smart contracts to eliminate the need to trust a centralized exchange when trading.

Combining the security and transparency of a DEX with the speed and usability of a centralized exchange, dYdX is a standout project. However, trading and entering into perpetual contracts involve significant financial and other risks. dYdX does not provide financial advice. “Free Trading” means that dYdX waives order-related fees for accounts with less than $100,000 in trading volume in the previous thirty days.

Other costs, including continuous funding, deposits, withdrawals, and potential liquidation, may still apply. For additional information, please review the dYdX Terms of Use.

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dYdX does not take custody of user assets; they remain in smart contracts. This means that dYdX cannot steal, lose, or seize user assets. Other aspects of the exchange, such as oracles, are also decentralized, meaning liquidations occur based on prices reported by third-party protocols like Chainlink. Therefore, dYdX cannot unfairly liquidate user assets.

Users can earn numerous rewards in crypto through cross-collateralization on dYdX. This makes dYdX one of the few exchanges in the world that rewards users for using its product.

Another advantage of being a DEX is the seamless onboarding process for users. All they need is a Web3-enabled wallet like Metamask. Once they connect their wallet and deposit funds, they can start trading immediately.

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dYdX Investors

Prominent investors in the dYdX project include:

  • Hashed
  • a16zcrypto
  • Paradigm
  • Andreessen Horowitz

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dYdX Team

Key members of the dYdX team include:

  • Antonio Juliano – Founder & CEO
  • DL Daniel Lian – Head of Finance
  • Gian Raciti – Head of Talent and People
  • Vijay Chetty – Head of Business Development
  • Vivek Saini – Chief of Staff

Dydx Members

 

How to Register on dYdX

  1. Get a Web3 Wallet: Download and set up a Web3 wallet such as Metamask if you don’t already have one.
  2. Visit dYdX: Go to the official dYdX website.
  3. Connect Your Wallet: Click on the “Connect Wallet” button and choose your wallet provider (e.g., Metamask). Follow the prompts to connect your wallet.
  4. Deposit Funds: After connecting your wallet, deposit the desired amount of funds into your dYdX account by following the on-screen instructions.
  5. Start Trading: Once your wallet is connected and funds are deposited, you can begin trading on dYdX immediately.

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