Interview

dYdX – a non-custodial trading, lending and derivates protocol

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In 15-minute fundamentals, we break down the business of a crypto project and learn about the drivers behind the data you can see on Token Terminal's charts. In this episode, we dive into the current state of dYdX with Corey Miller.

dYdX's dashboard: https://tokenterminal.com/terminal/projects/dydx

Timestamps:
00:00 What is dYdX?
01:25 What is a perpetual contract?
02:35 dYdX’s business model
03:16 How and why is dYdX moving towards full decentralization?
05:15 Protocol revenue — who does it accrue to and how is it used?
05:52 Growth drivers and challenges
08:00 User composition on dYdX
10:06 Trading volume composition on dYdX
11:50 Token incentives on dYdX
13:42 Governance on dYdX
15:42 What’s next for dYdX

The authors of this content, or members, affiliates, or stakeholders of Token Terminal may be participating or are invested in protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Token Terminal does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only, and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Token Terminal at any time without notice. Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.

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