dYdX
DYDX #237Project Safety Score: 45%
Updated 7 minutes agoRecord
Health
Security
Behavioral
& Liquidity
dYdX is a decentralized finance platform founded in 2018, known for its initial offerings in decentralized margin trading and derivatives, as well as for developing flash loans and decentralized exchange (DEX) aggregators. It operates on a custom Layer-1 blockchain using the Cosmos SDK and is designed to facilitate a professional trading experience characterized by leverage, liquidity, and cost efficiency.
The governance of dYdX is conducted through the DYDX token, which allows the community to participate in decision-making processes. The platform aims to provide a transparent financial system and is set to introduce features such as market listings, a liquidity engine, trading rewards, and affiliate commissions in the near future. The total supply cap and specific quantitative metrics are not disclosed in the available information.
Risk Report
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
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Prior: dYdXFounder of dYdX, previously worked at Coinbase.
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No critical vulnerabilities found; some recommendations for improvement.
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hack 2023-11-17 · $9000000dYdX's insurance fund lost $9 million due to a targeted attack affecting the YFI market. ↗
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The Block · 2023-11-18
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LinkedIn · 2023-04-01
- ✓Shortlisted for Institutional DeFi Solution of the Year.
- ✓Strong backing from reputable venture capital firms.
- ✗No recent code commits
- ✗Security breach leading to significant financial loss.
- ✗Targeted attack on the platform's insurance fund.
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