What is dYdX (DYDX)? | DYDX Token Explained in Under 60 Seconds

dYdX Exchange - dYdX is a decentralized exchange (DEX) that uses smart contracts to offer perpetual trading, margin trading, & spot trading. Lending & borrowing is also supported on the platform.

dYdX Token (DYDX) - The dYdX ecosystem is powered by its governance token DYDX. The DYDX token is used for rewards, staking and protocol governance.

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Exchange Trading - The dYdX exchange provides users with 3 trade offerings (perpetual, margin, & spot), with cross-margining across perpetual accounts.

Perpetuals on Layer 2 - dYdX partnered with StarkWare to provide a Layer 2 scaling solution for perpetual contracts. Provides up to 25x leverage on synthetic assets.

Spot / Margin Trading - As one of the most liquid and highest volume DEXs, dYdX exchange offers Layer 1 margin trading & spot trading with up to 5x initial leverage.

Lending / Borrowing - Lending and borrowing is also supported on dYdX. Deposit funds to start lending to the protocol, or borrow supported assets directly to your wallet.

WEBSITE: https://dydx.exchange/