dYdX (DYDX) is a cryptocurrency that powers a decentralized trading platform, offering perpetual contracts and other financial instruments. The platform is built on a proof-of-stake blockchain network using the Cosmos SDK and CometBFT for consensus ¹.$DYDX

*Key Stats:*

- _Market Capitalization_: $667 million ¹

- _Circulating Supply_: 636 million DYDX ¹

- _Total Supply_: 771 million DYDX ¹

*Token Utilities:*

- _Governance_: DYDX token holders can participate in governing the platform ¹ ²

- _Staking_: Holders can stake their tokens to validators to secure the network and earn rewards ¹ ²

- _Trading_: DYDX is used for trading perpetual contracts and other financial instruments on the platform ³

*Token Migration:*

The ethDYDX token, which is the governance token for the dYdX Layer 2 protocol built on Ethereum, is currently undergoing migration to the dYdX Chain [