dYdX

DYDXRating B-
DeFiderivativesapplication chain2017 Founded

dYdX is a decentralized derivatives exchange that provides users with key financial tools such as perpetual contracts, margin and spot trading, as well as lending. dYdX offers traders an off-chain order book with on-chain settlement, enabling them to short tokens, increase risk exposure through leveraged long positions, or earn interest on deposited tokens to generate profits.

DYDX Price$0.1098+1.00% (24H)
Market Cap$93.18M
FDV$129.32M
Daily Volume$1.57M
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Project Profile

Project Profile

Overall AssessmentA- · Sector leader · dYdX is a veteran leader in crypto derivatives, with its strongest edge in combining on-chain settlement and an off-chain order book for better performance and

dYdX’s core strength is its mature derivatives trading infrastructure: on-chain settlement plus an off-chain order book delivers both efficiency and decentralization, giving it a clear brand and product moat in perpetuals. The main risks are the deep drawdown from its all-time high, only moderate community momentum, and limited holder-concentration health, which may cap valuation recovery.

AI Bull Case· 5
  • Clear focus on perpetuals and derivatives, a category with durable long-term demand
  • On-chain settlement plus an off-chain order book balances performance, UX, and decentralization
  • Veteran project with strong brand recognition and trading infrastructure depth
  • Backed by top-tier investors such as Paradigm and a16z, indicating strong fundraising quality
  • Listed on multiple major exchanges, supporting liquidity and accessibility
AI Bear Case· 3
  • Token is deeply below its all-time high, making recovery harder
  • Community heat is not especially strong, limiting new attention and viral momentum
  • Holder/token concentration health is only average, which can amplify volatility
4/ 5.0 Overall
Technical Architecture4.8
Market Performance4.4
Community Activity3.4
Tokenomics3.6
Team Background4.3
Token Concentration2.9
02

Funding History

Funding History
Funding rounds4
Total funding$85M
Latest roundSeries C
Latest funding date2021-06-15
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Team

Team

AI Team Profile AnalysisExecution 8.6 / 10

The team combines founder continuity with professional management: Antonio Juliano anchors the original product and technical DNA, Charles d'Haussy supports execution and operations, and Arthur Cheong adds governance and institutional connectivity. Overall, it is an experienced and increasingly institutionalized setup.

CoinbaseBinanceUC Berkeley
04

Product & Token

Product & Token
Price$0.1098
Circulating Mkt Cap$93.18M
FDV$105.23M
24H Volume$1.57M

DYDX is the core asset of the project ecosystem, connecting product usage, network incentives, staking or governance functions, and the broader on-chain application stack.

Native gas, staking and governance tokenhighcoingeckorootdata

Dydx Chain

high
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Token Unlock Details

Token Unlock
No unlock schedule available
06

Ecosystem Network

Ecosystem

dYdX V4

Stride

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On-chain Data

On-chain Data
Average Daily Volume$11.53M90D +79.4%
Protocol TVL$113.63M
Active Trading Addresses--
Derivatives Market Share5%

On-chain data shows the project has strong momentum across trading volume and capital locked. As a leading decentralized derivatives project, it continues to show solid usage and liquidity.

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