What is DYDX?

_{What is DYDX (ETHDYDX)?}

DYDX is the regulatory coin for the DYDX protocol.
It is a decentralized exchange (DEX) platform focused on derivatives trading.
DYDX coins allow coin holders to participate in governance.
This contributes to the future development of the DYDX platform.

_{Native Blockchain:}

DYDX coin first launched on Ethereum as coin on ERC-20
However, the DYDX project is transitioning to its own blockchain, the dYdX Chain.
Built using Cosmos SDK and Tendermint

_{Protokola Konsensus:}

DYDX operates under Ethereum's Proof-of-Stake (PoS) mechanism
The move to dYdX Chain will use the Tendermint Byzantine Fault Tolerant (BFT) procedure.
This improves the efficiency of the network.

_{Trilemma (Security, Speed, Scalability):}

Seguridad:DYDX Adopts Ethereum's Strong Security Standards
By benefiting from the comprehensive security measures of the network

Hastighet:On Ethereum, transaction speed may be limited by network congestion
But Layer 2 solutions like zk-rollups reduce this problem.

Scalabilità:Ethereum's scalability has been improved through Layer 2 solutions such as zk-rollups.
This reduces the load on the mainnet and improves the workload of transactions.

_{Founder/Date Founded:}

The dYdX protocol was founded by Antonio Juliano in 2017.
Antonio, a former software engineer for Coinbase and Uber, has envisioned the creation of a decentralized platform.
able to compete with traditional financial exchanges in terms of functionality and user experience.

_{Objective/Use Case:}

The primary purpose of the DYDX coin is to facilitate decentralized governance of the dYdX protocol.
Coin holders can propose and vote on protocol changes, such as fee structure, prize distribution.
and other important aspects of operation. In addition, the coin incentivizes users to provide liquidity and engage in trading activities.
This ensures that the platform continues to have users and is competitive.

_{Total Supply/ Limit or Unlimited:}

The total supply of DYDX coins is capped at 1,000,000,000. This limited supply may add value.
As the need to participate in the regulation of the protocol increases.

_{Supply Deflation:}

The DYDX protocol includes mechanisms such as coin burning and reducing the return on staking to reduce circulating supply over time.

_Source:

https://drive.google.com/file/d/1C1hnrjVqCHvsiEZuTO8xA3d2Y6upW3KE/view

https://www.dydx.foundation/blog/dydx-annual-ecosystem-report-2023

https://docs.dydx.community/dydx-token-migration

https://dydx.trade/markets

https://coinmarketcap.com/currencies/dydx-ethdydx/