Overview

$DYDX  is a permissionless perpetual futures trading exchange. dYdX has two primary offerings, dYdX Chain (dYdX V4) and dYdX V3.

dYdX Chain is a Delegated Proof-of-Stake (DPoS) Layer-1 network upon which a perpetual futures trading exchange is built. dYdX Chain was built using the Cosmos SDK and is secured by the CometBFT consensus mechanism (a fork of Tendermint Core). To start trading, users are required to connect a supported wallet to a supported network to deposit USDC or another supported token that is subsequently converted to USDC on Noble, which is used on the dYdX Chain. Users also have the option to deposit USDC on Noble Chain from Coinbase directly. dYdX V4 can also be accessed on iOS devices via a mobile application in eligible jurisdictions. Notably, unlike dYdX V3 where dYdX Trading Inc. receives trading fees, no central party receives trading fees on dYdX V4.