dYdX Overview
- What is dYdX?
dYdX is a perpetual decentralized exchange on the Ethereum offering advanced cryptocurrency trading options, including perpetual contracts, margin trading, and spot trading. Unlike some DEXs that rely on Automated Market Makers (AMMs), dYdX offers a traditional order book system, allowing users to place limit orders and have more control over their trades.
- Main Features
- Leverage up to 25xOff-chain order books with on-chain settlementsWeb and iOS mobile appTrading Leagues with rewardsEducational resources and support
- Blockchains
- Ethereum
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Frequently asked questions
To earn rewards through Trading Leagues, you need to participate in trading activities on the platform. The rewards are based on your performance and ranking within the leagues. The TradingLeagues parameter provides information about your current league and ranking. The TradingPnls parameter includes your 30-day absolute and percentage profit and loss, as well as your trading volume. The TradingRewards parameter provides information about the current epoch number and your estimated rewards in dYdX tokens for the current and previous epochs.
dYdX takes the security of user funds seriously. The insurance fund is initially centralized, with the dYdX team directly responsible for deposits and withdrawals. However, they may decentralize some aspects of the fund in the future. The smart contracts have undergone rigorous internal testing and have been audited by independent security firm PeckShield. dYdX has a track record of no bug reports or user funds being at-risk since its launch in October 2018. Therefore, based on this information, it can be concluded that user funds on dYdX are secure.
You can find educational resources and support for web3 on the dYdX Academy. The dYdX Academy offers a range of crypto topics from basic to advanced. Additionally, you can also find helpful tips and tricks for using dYdX on their Help Center.
Yes, you can use dYdX on mobile devices. It is available for iOS and will be coming to Android soon.
Unlike traditional futures contracts with expiry dates, perpetual swaps on dYdX are contracts that track the price of an underlying asset (like ETH) without an expiration. This allows you to hold positions for extended periods.
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