dYdX (DYDX)

dYdX는 무엇입니까?

dYdX (DYDX) is the governance token for the dYdX decentralized derivatives trading platform, a protocol designed for trading perpetual contracts. Launched in 2021, the project was founded by Antonio Juliano. The primary function of the DYDX token is to empower community-led governance, allowing token holders to propose and vote on changes to the protocol's parameters and future development. It operates within the decentralized finance (DeFi) and decentralized exchange (DEX) categories, focusing specifically on derivatives. The platform enables users to trade complex financial instruments without relying on traditional intermediaries, contributing to the expansion of DeFi services and related technologies in the market.

dYdX는 어떻게 작동하나요?

The dYdX protocol operates on its own standalone blockchain built using the Cosmos SDK. This architecture allows for a high degree of customization and performance tailored specifically for trading. The chain is designed to handle a large volume of transactions required for a derivatives exchange.

Validators are responsible for securing the network and processing transactions on the dYdX Chain. These participants run nodes, propose new blocks, and validate transactions from other users on the network. In return for their services, validators receive rewards, which helps maintain network integrity and participation.

When a user places a trade, the order is submitted to the off-chain order book for matching. Once matched, the trade is then settled on-chain, with the transaction recorded permanently on the blockchain. This hybrid model aims to provide both the speed of a centralized exchange and the security of a decentralized one.

dYdX의 사용 사례

dYdX 토큰 경제학

The tokenomics of DYDX are defined by a fixed maximum supply, which is capped at 1 billion tokens. This finite supply means that no new DYDX tokens can be created beyond this limit, establishing a clear ceiling on the total number of tokens that will ever exist. The circulating supply represents the portion of these tokens that are currently active and available on the market. As of the latest data, the circulating supply is 844,084,129 DYDX. The distribution of these tokens is allocated over time to community members, investors, and the development team, with specific vesting schedules in place to manage the release into the market.

dYdX 가격 변동 내역 및 주요 이정표

The DYDX token was introduced to the market in 2021 as part of the launch of the dYdX platform's governance system. Since its debut, the token's value has experienced significant fluctuations, which is common for assets in the digital currency markets. The token recorded its all-time high price of $4.53 on March 7, 2024. Conversely, its all-time low was registered at a price of $0.06665 on October 10, 2025. These historical price points reflect the extremes in its valuation over its trading history. Based on market capitalization, DYDX holds a market rank of 170 among other crypto assets.