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

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

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