What Is DYDX (dYdX)?

Ethereum-based DYDX ($ethDYDX) is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol built on Ethereum ("dYdX v3"). ethDYDX is currently undergoing a migration from Ethereum to the dYdX Chain. More information is available here. If you want to migrate ethDYDX to dYdX Chain DYDX, to enable staking, security and governance of the dYdX Chain you can follow the how-to-bridge guide here. If you want to read about the new token utility for dYdX Chain DYDX you can read the blog here ethDYDX (dYdX) is the governance token for the layer 2 protocol built on Ethereum. By enabling shared control of dYdX v3, ethDYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced dYdX v3. Built on StarkWare’s StarkEx scalability engine, layer 2 is used for trading of cross-margined perpetuals on the platform. The scaling solution allows dYdX to increase transaction speed, eliminate gas costs, reduce trading fees and lower​​ minimum trade sizes on the protocol. A total of 1,000,000,000 ethDYDX have been minted, and started to become accessible over five (5) years, on August 3rd, 2021, at 15:00:00 UTC.

Who Are the Founders of dYdX?

Antonio Juliano — an experienced programmer with a background in blockchain technology is the founder and CEO of dYdX Trading Inc. He first entered the crypto space in 2015 upon getting a job as a software engineer at Coinbase — a cryptocurrency exchange platform. As a Princeton University graduate with a degree in computer science, Antonio Juliano embarked on his entrepreneurial journey and founded dYdX in early 2017 .

What Makes dYdX Unique?

dYdX Layer 2 increases scalability of the network through use of a form of zero-knowledge rollup — zkSTARKS. The technology receives proofs, while validating a batch of transactions off-chain. These proofs are then sent back to the blockchain, where they are verified by a smart contract. zkSTARKS makes it possible to remove expensive computations from the mainnet with no sacrifices in decentralization.

What is the allocation of ethDYDX?

A total of 1,000,000,000 ethDYDX have been minted, and started to become accessible over five (5) years, on August 3rd, 2021, at 15:00:00 UTC. The five-year allocation of the total supply of ethDYDX was initially as follows: - 27.7% is allocated to Investors - 14.5% is allocated to User Trading Rewards - 15.3% is allocated to Employees and Consultants of dYdX Trading or Foundation - 5.0% is allocated to Retroactive Rewards - 5.2% is allocated to Liquidity Provider Rewards - 7.0% is allocated to Future Employees & Consultants of dYdX - 24.2% is allocated to Community Treasury - 0.6% is allocated to Liquidity Staking Pool - 0.5% is allocated to Safety Staking Pool Since the launch of ethDYDX, several governance proposals have resulted in changes to the initial allocation. The updated allocation as of the start of Epoch 31 (December 19, 2023) is reflected in the pie chart below. The updated allocation of ethDYDX tokens as of the start of Epoch 31 (December 31, 2023) is as follows:

How Is the dYdX Network Secured?

DYDX is an ERC-20 token deployed on the Ethereum mainnet. dYdX’s layer 2 scaling solution is built on StarkWare’s ZK-STARKS technology and relies on Ethereum blockchain to verify transaction proofs.

When Will DYDX Trading Begin?

DYDX token first became available for purchase in September 2021.

What tools does Nimbus offer for effortlessly monitoring dYdX (ethDYDX)?

Nimbus provides a user-friendly tracking solution equipped with intuitive tools to monitor dYdX (ethDYDX) effortlessly. These tools are specifically designed for user convenience, allowing individuals to stay seamlessly updated on the latest trends, prices, and information related to dYdX (ethDYDX). Users can also explore the world of cryptocurrency effortlessly while simultaneously tracking dYdX (ethDYDX) prices. The platform also offers insights into profit and loss, providing a comprehensive experience without the complexity typically associated with monitoring cryptocurrencies.

How does Nimbus enable tracking dYdX (ethDYDX) prices with profit and loss?

Nimbus facilitates the tracking of dYdX (ethDYDX) prices with profit and loss through seamless integration with your crypto wallet for portfolio monitoring. By connecting with your crypto wallet, Nimbus provides a clear and comprehensive overview of various metrics, including profits, losses, revenue, expenses, return on investment (ROI), and other essential financial indicators. This integration ensures that users can analyze their cryptocurrency portfolio with precision, gaining valuable insights into their financial performance. With Nimbus, users can navigate the cryptocurrency landscape with a perfect blend of simplicity and sophistication, enhancing their ability to make informed investment decisions.

How does Nimbus analyze dYdX (ethDYDX), and what insights does it provide?

Certainly! Nimbus possesses a robust analysis tool that is adept at evaluating and interpreting dYdX (ethDYDX) . The tool employs diverse strategies, including delving into metadata details, tracking marketplace data, and calculating performance metrics such as Return on Investment (ROI). Through these methodologies, Nimbus provides users with valuable insights into the composition and performance of their dYdX (ethDYDX). Users can gain a comprehensive understanding of their investment. The analysis tool ensures that users are equipped with the necessary information to navigate the cryptocurrency landscape with confidence and intelligence.

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ETHDYDX Market Statistics

  • Price USD

    $1.64
  • Market Cap

    $402,480,563.67
  • Total Volume USD

    $26,241,402.46
  • Total Supply

    472,707,561.00 ETHDYDX
  • Circulating Supply

    245,868,220.00 ETHDYDX
  • Fully Diluted Market Cap

    $773,811,294.52
  • Socials

  • Official links

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