dYdX Exchange (DYDX) Project Analysis
1. Research Comment
A leading project of the decentralized derivatives, cumulative transaction volume has exceeded 9.8 billion US dollars. Previously, dYdX has obtained 5-6 rounds of financing, with a total of more than 95 million US dollars, but has not conducted any ICO. The cumulative number of accounts has reached 36,414. Since there were cleaning-up of the accounts of click trading and wrong ip address some time ago, the circulation when opening was greatly reduced.
2. Recent Flashpoint
Token formally starts to circulate in the market
3. Project Introduction
dYdX is a decentralized perpetual exchange based on Ethereum second-layer protocol - Starkware. There’s no Gas fee for dYdX trading, only a certain amount required for deposit and withdrawal. Unlike AMM DEX, dYdX adopts order book mode.
4. Token Roles
- As the ecosystem governance token of protocol
- Token holders (with equal to or more than 100 DYDX) can enjoy fee discount.
5. Token Allocation
Total supply: 1,000,000,000
- In circulation when opening: 55,000,000
- Community treasury: 5%
- Safety staking pool: 2.5%
- Liquidity staking pool: 2.5%
- Liquidity provider rewards: 7.5%
- User trading rewards: 25%
- Retroactive rewards: 7.5%
- Investors: 27.7%
- Employees&consultants of dYdX trading or foundation: 15.3%
- Future Employees&consultants of dYdX trading or foundation: 7%
6. Investment Institutions
A16Z, 3AC, paradigm, Polychain Capital and angel investor Brian Armstrong (Co-founder and CEO of CoinBase)
dYdX Exchange (DYDX) Basic Information
Token name: DYDX
Project website: https://dydx.exchange/
Block query:
https://etherscan.io/token/0x92D6C1e31e14520e676a687F0a93788B716BEff5#balances
CoinW Research
September 8, 2021