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He first entered the crypto space in upon getting a job as a software engineer at Coinbase — a cryptocurrency exchange platform. As a Princeton University graduate with a degree in computer science, Antonio Juliano embarked on his entrepreneurial journey and founded dYdX in early Zhuoxun Yin is head of operations at dYdX.

Zhuoxun Yin studied at University of Queensland and has a bachelor's degree in commerce. What Makes dYdX Unique? The platform supports margin trading — a financial product enabling investors to increase their exposure to digital assets through leverage. Perpetuals — a type of futures contract that does not have a predetermined selling date, is also available for trading on dYdX.

The exchange currently offers a maximum of 25x leverage on synthetic assets with no expiry date. Upon depositing funds into the account, dYdX users automatically begin to earn interest, as their assets are entered into the global lending pool specific to each cryptocurrency. The platform guarantees security for lenders by ensuring that borrowers have enough collateral in their account at all times. Borrowing on dYdX enables users to instantly acquire any asset available on the platform using funds in their possession as collateral for the loan.

The technology receives proofs, while validating a batch of transactions off-chain. The bulk of dYdX crypto margin trading products reside atop the Ethereum blockchain. However, the exchange recently rolled out on Layer 2 for instantly settled, inexpensive trades. The hype around dYdX has intensified because the exchange finally presents a clear decentralized alternative to perpetuals exchanges BitMex, FTX , and Bitfinex.

Should you be trading on dYdX? What is dYdX Crypto Exchange? Cryptocurrency exchanges like Coinbase, Binance, Kraken, and Huobi are all pretty similar. A handful of decentralized exchanges like Uniswap, Sushi, Curve, and 1inch offer traders the same capabilities without intermediaries. However, exchanges like FTX and Bitfinex allow you to margin trade crypto with advanced derivatives products like leveraged tokens for more adventurous traders. Now, dYdX upped its game by rolling out margin and perpetuals for many cryptocurrencies.

It also added lending and borrowing services to decentralize the entire trading experience altogether. This is an excellent place to pause and quickly explain crypto margin trading and perpetual contracts to the new people in the room. If you already understand these concepts, feel free to skip ahead. Crypto Margin Trading Explained Margin trading with cryptocurrencies is when you borrow crypto to bet more on your trading position. In margin trading, you can take two positions: margin long or short.

So, the margin part of margin trading means you use your funds as collateral to borrow more, thus allowing you to trade with a larger stack of assets. The more collateral you deposit, the more you can borrow. Crypto margin trading entails using different powers of leverage, usually denoted as 5x, 10x, 25x, and so on.

Using higher leverage lets you capture more significant gains and entails greater risk since you also capture more downside. Crypto Perpetual Contracts Explained Crypto perpetual contracts are a type of derivative trading similar to trading products like BTC futures.

The way Bitcoin futures contracts work is straightforward — a buyer and a seller agree to trade BTC at a specific price on a fixed date. If BTC is higher than the agreed price when that date arrives, the buyer wins, and the seller loses. A crypto perpetual contract is similar, except there is no fixed date specified for the exchange.

Instead, you can keep riding the position by funding it, allowing for a potential reversal of fortunes later. Traders can also apply margined leverage to perpetual contracts. How dYdX Crypto Exchange Works Crypto derivatives exchanges have traditionally relied on centralization to organize lending and borrowing for trading on margin and perpetual contracts.

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If you would like to know where to buy dYdX at the current rate, the top cryptocurrency exchanges for trading in dYdX stock are currently Binance , XT. You can find others listed on our crypto exchanges page. To find out even more about this project, check out our deep dive of dYdX. DYDX dYdX is the governance token for the layer 2 protocol of the eponymous non-custodial decentralized cryptocurrency exchange. It serves to facilitate the operation of layer 2 and allows traders, liquidity providers and partners to contribute to the definition of the protocol's future as a community.

An open-source platform with smart contract functionality, dYdX is designed for users to lend, borrow and trade crypto assets. Although dYdX supports spot trading, the main focus of the platform is on derivatives and margin trading. Who Are the Founders of dYdX? He first entered the crypto space in upon getting a job as a software engineer at Coinbase — a cryptocurrency exchange platform.

As a Princeton University graduate with a degree in computer science, Antonio Juliano embarked on his entrepreneurial journey and founded dYdX in early Zhuoxun Yin is head of operations at dYdX. Zhuoxun Yin studied at University of Queensland and has a bachelor's degree in commerce. The way Bitcoin futures contracts work is straightforward — a buyer and a seller agree to trade BTC at a specific price on a fixed date.

If BTC is higher than the agreed price when that date arrives, the buyer wins, and the seller loses. A crypto perpetual contract is similar, except there is no fixed date specified for the exchange. Instead, you can keep riding the position by funding it, allowing for a potential reversal of fortunes later. Traders can also apply margined leverage to perpetual contracts.

How dYdX Crypto Exchange Works Crypto derivatives exchanges have traditionally relied on centralization to organize lending and borrowing for trading on margin and perpetual contracts. However, smart contracts have enabled decentralized liquidity pools, collateralization, and lending across popular protocols like Uniswap, Compound, and Sushi.

The basic flow for trading crypto perpetual contracts on dYdX is straightforward. Fire up the dYdX trading app. Connect your wallet MetaMask, Ledger, Coinbase, etc. Deposit funds, then select trade. However, there are two different versions of dYdX, so your mileage may vary.

Borrowing to fund your positions is quickly done with funds deposited directly to your wallet as long as you collateralize appropriately. Also, because this version is built directly on Ethereum, transaction fees and speed are dependent on Ethereum network activity. Layer 2 dYdX is fast, seamless, inexpensive to use, and feels just like trading on a centralized exchange like Binance. Layer 2 dYdX offers crypto perpetual contract trading for a wide assortment of digital assets.

In terms of leverage, you can use up to 25x, which represents a hefty step up from Layer 1 dYdX. Additionally, Layer 2 dYdX offers unique features like: Fast withdrawal: A special withdrawal liquidity provider sends funds immediately when this option is selected. No wait time for withdrawal equals speedier trading. Allows real-time yet secure decentralized trading. In a nutshell, the difference between Layer 1 and Layer 2 dYdX is the former is the legacy version, and the latter is the future of dYdX.

Who is dYdX Built for? All of this talk about crypto margin, spot, and perpetuals trading misses a key point about the intended audience of those trading products. What kind of crypto trader uses dYdX? In fact, the spot trading function looks built-in just to generate an early revenue stream for the platform but will be phased out later.