A decentralized exchange (DEX) platform called dYdX provides endless trading possibilities for more than 35 well-known cryptocurrencies, including as Ether, Cardano, Dogecoin, and Bitcoin. In terms of trading volume and market share, it is among the largest decentralized exchanges globally.
Antonio Juliano, an entrepreneur located in California, launched dYdX in August 2017. When the exchange was opened in July 2017, it provided Ethereum layer-1 services for lending, borrowing, and cryptocurrency margin trading.
The dYdX exchange began providing cross-margin perpetual trading in August 2021. Cross-margin trading is a well-liked strategy to prevent liquidations during periods of extreme volatility. Users can use their available balance on the platform to give liquidity to open deals.
The dYdX protocol was developed on top of STARK (zero-knowledge) Rollups powered by Starkware and Ethereum smart contracts. The platform began its existence in the cryptocurrency space by providing spot trading, and in order to decentralize its components, it has since relaunched three versions of its services. The majority of the dYdX exchange is based on trustless protocols, which are openly extendable without authorization, in an effort to decentralize the exchange.
dYdX Airdrop
If you want the grab a chance to get dYdX tokens for free, follow the steps of the airdrop below.
- Open an Alphador account by clicking this referral link: https://alphador.ai/start/karlo
- Perform all tasks stated here https://alphador.ai/crypto-events/dydx-airdrop-guide
- Paste your dYdX address in Google Sheets
- Use this instructions to open and close short/long positions in dydx https://help.dydx.exchange/en/articles/5108531-choosing-the-appropriate-position-buy-or-sell
