Learn about the DYDX token and what you can do with it
dYdX
DYDX
DYDX price
1.4212
USD
Dec 22, 2024
dYdX statistics
Ranking
#97
Market cap
1,014,076,105
USD
24h Volume
52,504,106
USD
Circulating supply
711,241,102
DYDX
All-time high
4.5285
USD
About DYDX
DYDX is the governance token of the DeFi lending protocol, dYdX. With it, it is possible to receive yields by making DYDX available on the platform for loans and mar...
Website
https://dydx.exchange/Understand DYDX, the dYdX's governance token
What is the dYdX platform?
The dYdX exchange emerged as a DeFi lending protocol that offers advantages to those who make their assets available on its network. The protocol allows for margin trading, that is, you can trade cryptocurrencies with amounts greater than those you have in your account. Thus, the dYdX protocol operates with investment leverage, which provides greater reward possibilities.
What is the DYDX token used for?
DYDX is the dYdX protocol token that allows for a number of uses in that ecosystem. With DYDX you can operate on the exchange, do margin trading and leverage your yields. It is also a governance token that allows voting on protocol improvement proposals. So, the more DYDX tokens you own, the greater the weight of your vote in these decisions. In the dYdX protocol it is possible to give and obtain loans in cryptocurrencies.
How to get DYDX?
There are different ways to obtain DYDX. You can access the dYdX protocol and purchase it directly from the network or use an exchange such as Bitso. Just access our app or website and make an initial deposit of 5 USD to convert your money into DYDX! In addition to DYDX, Bitso offers other crypto assets you can add to your basket.