dYdXDYDX
Overview
What is dYdX?
dYdX is a non-custodial trading and derivatives protocol initially built on Ethereum and later expanded to their own blcokchain built on top of the Cosmos SDK. dYdX was founded by Antonio Juliano and launched in 2017.
How does dYdX work?
Market makers offer trades through order book & make money on bid-ask spreads (supply-side fees).
Who governs dYdX?
DYDX tokenholders own and govern the protocol. dYdX Trading Inc. currently takes all of the total trading fees paid by traders (revenue). dYdX’s investors include a16z, Polychain, The Spartan Group, etc.
The values in this graphic are examples and do not reflect actual values. Treat them as approximations.