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Coinhouse SAS with a capital of €210,000, RCS Paris 815 254 545, headquarters: 14 Avenue de l'Opéra 75001 Paris – support@coinhouse.com. Registered with the AMF for activities related to the purchase/sale of digital assets against legal tender, the exchange of digital assets for other digital assets, and the custody of digital assets for third parties under the registration number: E2020-001.
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dYdX (DYDX) is a decentralized exchange platform (DEX) running on the Ethereum blockchain.
It offers its users the ability to access complex financial tools, such as margin trading and futures, without the need for a traditional intermediary, such as a bank or broker.
This means that dYdX users can trade directly with each other.
This gives them total control over their funds and greater transparency in their financial operations.
Launched in 2017 by Antonio Juliano and Brendan Chou, the platform has quickly established itself as a benchmark in decentralized finance(DeFi) thanks to innovative trading features such as perpetual contracts, margin trading, and flash borrowing. dYdX makes advanced financial tools easier for everyone to use, enabling users to trade with leverage and bet on what asset prices will be in the future.
Margin trading increases investment capital by borrowing money from a broker, offering the possibility of greater gains but also potentially greater losses.
Flash loans are ultra-short loans that use securities as collateral to obtain quick liquidity, often exploited to seize short-term market opportunities.
With a market capitalization of $701 million and ranking 70th on CoinMarketCap, dYdX is one of the top 100 projects in terms of value on the cryptocurrency market. Its price on August 22, 2024 is $1.12.
Founded in 2017 by Antonio Juliano, Brendan Chou and Zhuoxun YinThe dYdX team is made up of talents from prestigious institutions such as Stanford, and renowned companies such as Facebook and Google.
Antonio Juliano gained significant experience at Uber and Coinbase before founding dYdX.
Brendan Chou also has a background as a software engineer at Facebook.
In 2019, dYdX successfully raised $20 million from influential investors such as Andreessen Horowitz and Polychain Capital, as well as Olaf Carlson-Wee, one of the founders of Coinbase.
In 2023, dYdX underwent significant developments.
Ahead of a massive token release worth $500 million, the native DYDX token saw an increase of over 20% in 24 hours!
This indicates the growing interest on the part of investors.
Currently, the dYdX development team of over 40 experienced engineers is dedicated to the continuous improvement of the platform and the addition of new features.
dYdX is based on smart contracts hosted on Ethereum, guaranteeing transparent, autonomous, irreversible transactions without intermediaries.
Its system incorporates an AMM protocol, similar to Uniswap, where users feed liquidity pools to support a decentralized order book.
In other words, a system that enables users to pool their money, thereby facilitating automatic, decentralized trading. An AMM (Automated Market Maker) protocol is a system that enables crypto-currencies to be traded automatically on a decentralized finance platform (DeFi) without the intervention of a human intermediary.
It uses algorithms to determine asset prices and maintain liquidity.
This configuration enables traders to exchange various crypto-currencies, including BTC, for stablecoins or other cryptos, thus promoting greater flexibility and accessibility within the dYdX DeFi ecosystem.
The DYDX token serves as the central pivot in the dYdX ecosystem, taking on several essential functions and giving its holders an active role in governance by enabling them to vote on protocol changes and new features.
A particularly attractive feature of the platform is the rewards system, which rewards traders and liquidity providers with DYDX tokens in exchange for their active participation in the market.
The DYDX token incorporates a deflationary mechanism, meaning that a portion of the fees generated by transactions on the dYdX platform is destroyed or “burned”.
This process of token destruction reduces the total supply in circulation, which can, according to the economic principles of supply and demand, increase the value of the remaining tokens if demand remains constant or increases.
DYDX can also be used as collateral to secure loans on dYdX, making the token even more useful.
This collateral feature can increase demand for DYDX, as users need to hold it to access lending services, which can also help boost its value on the market.
| Launch | May 2021. |
|---|---|
| Total supply | 1 billion DYDX. |
| Consensus | Proof of Stake. |
| Allocation | 20% for the team, 40% for the community, 20% for investors, 20% for the foundation. |
In 2024, dYdX is focusing on developing its decentralized trading platform by implementing the transition to an independent blockchain, dYdX Chain, based on the Cosmos SDK.
This project aims to improve the efficiency and decentralization of the protocol while reducing transaction costs.
dYdX also plans to introduce new trading functionalities, increase the number of asset pairs available and enhance staking capabilities for users, while continuing to optimize the user experience for professional and retail traders.
Coinhouse recognizes dYdX as a major player in the world of decentralized trading.
As of September 17, 2024, the price of dYdX is €0.81 (token price).
Its strong market presence and growing adoption, reinforced by a significant number of active users, demonstrate the attractiveness of dYdX in 2024.
In the medium term, dYdX is developing other projects, such as the expansion of its decentralized trading services and its increased integration into the DeFi ecosystem.
In particular, these new projects will support dYdX’s growth.
In the exciting adventure of crypto-assets, Coinhouse positions itself as an essential companion, providing clarity and support at every stage of your journey.
At Coinhouse, we value investor education and ongoing support, recognizing the importance of an individualized approach in the complex and ever-changing world of crypto-currencies.
With our in-depth expertise and cutting-edge technology, we offer tailor-made support, helping you to confidently navigate the crypto-asset space, especially assets such as DYDX.
As the first digital asset service provider(DASP) registered in France, Coinhouse complies with strict regulations, ensuring you a reliable and secure investment environment.
Our personalized service equips you to make sound investment decisions, supported by detailed analysis and advice tailored to your objectives.
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