Market makers offer trades through order book & make money on bid-ask spreads (supply-side fees).

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.

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.

governance

github

twitter

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etherscan

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Derivative exchanges

dYdX

# dYdX Transactions per second Methodology

## 1. Overview

The dYdX transactions per second (TPS) metric measures the average number of transactions processed per second on the dYdX blockchain on a daily basis. This metric provides insight into the network's transaction throughput and activity levels by dividing the daily count of successful transactions by the number of seconds in a day (86,400). The calculation focuses on successful transactions only, filtering out failed or incomplete transactions to provide an accurate measure of actual network utilization.

## 2. Data sources

The metric relies on the following data sources:

- **dYdX blockchain transaction records**: Individual transaction data from the dYdX blockchain including transaction hashes, block timestamps, transaction fees, and transaction tips
- **Chain configuration metadata**: Protocol classification data defining market sectors, business segments, and product identifiers for the dYdX ecosystem

## 3. Step-by-step calculation

### Component A: Transaction processing
- **Purpose**: Filter and prepare raw dYdX transaction data for analysis
- **Logic**: Extract transaction records from dYdX blockchain data, filtering to include only successful transactions by excluding records where `transaction_fee` is null (which indicates failed transactions). Calculate the total transaction fee by combining the base `fee_amount` and `tip_amount` fields, handling null values by converting them to zero. Preserve key identifiers including `transaction_hash` and `block_timestamp` for downstream processing.
- **Key fields**: `transaction_hash` (unique identifier), `block_timestamp` (transaction timing), `transaction_fee` (combined fee and tip amounts)

### Component B: Daily transaction aggregation  
- **Purpose**: Aggregate transaction data into daily counts with proper metadata classification
- **Logic**: Group transactions by day using timestamp truncation on `block_timestamp` to establish daily boundaries. Count distinct `transaction_hash` values per day to determine the `transaction_count`, ensuring each transaction is counted only once even if it appears in multiple records. Apply consistent metadata classification by assigning `chain_id` as 'dydx', `product_id` as 'dYdX Chain', `market_sector_id` as 'blockchains_l1', and `business_segment_id` as 'blockchain'. Use gap-filling logic to ensure zero values are recorded for days with no transactions.
- **Key fields**: `timestamp` (daily boundary), `transaction_count` (distinct daily transactions), `chain_id`, `product_id` (classification metadata)

### Final aggregation
- **Combining components**: Sum the daily transaction counts (to handle any potential multiple records per day) and divide by the number of seconds per day
- **Currency conversion**: Not applicable - this is a count-based metric measured in transactions per second
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation, with each day representing a 24-hour period starting at midnight UTC
- **Final calculation**: The transactions per second value is calculated by dividing the sum of daily transaction counts by 86,400 (the number of seconds in a day), using safe division to handle edge cases. The result represents the average number of successful transactions processed per second during each day. Chain availability filtering is applied to ensure results align with network operational status.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Average confirmed user transactions added per second.

dYdXDYDX

Transactions per second

Transactions per second

Competitive landscape

Chain breakdown