dYdX
Also known as: dYdX Exchange, Decentralized Derivatives Platform, Perpetual Trading DEX
A decentralized derivatives exchange offering perpetual contracts, margin trading, and advanced order types.
dYdX is a non-custodial trading platform built on blockchain that specializes in derivatives, including perpetual contracts and margin trading. It combines decentralized finance (DeFi) principles with advanced trading features typically found on centralized exchanges. dYdX uses smart contracts for trustless trading and supports up to 20x leverage on popular crypto assets. The protocol has migrated to a Cosmos-based appchain (dYdX Chain) to enhance performance and scalability. DYDX is its governance token, used for staking, rewards, and voting on protocol decisions.