DFC PAY

dYdX is the developer of a leading non-custodial decentralized exchange (DEX) focused on advanced crypto products — namely derivatives like crypto perpertuals. dYdX runs on audited smart contracts on blockchains like Ethereum, which eliminates the need of trusted intermediaries. The origins of the name is obtained from the mathematical derivative equation: dy/dx, a measure of rate of change. The DEX launched its own native token — $DYDX — in August 2021, to function as a governance token for voting on proposals and as rewards for traders based on their trading volume on the platform. To scale trading, dYdX and StarkWare launched a custom-built layer 2 (L2) protocol for cross-margined perpetuals on Feb. 24, 2021. It is based on StarkWare’s StarkEx scalability engine, based on zero-knowledge rollup (zk-Rollup) technology, and dYdX’s perpetual smart contracts. Traders can now trade with zero gas costs, lower trading fees and reduced minimum trade sizes. As of June 2022, dYdX has announced that for v4, they will launch their own independent blockchain based on Cosmos SDK and Tendermint PoS. The team stated the motivation behind their move was the speed and other centralization concerns surrounding Ethereum L2. The team believes that this switch will help them improve their performance and meet their goal of total decentralization by the end of the year.