Decentralized Exchange dYdX Attracts Traders with Profitability, Transparency, and Lower Fees

dYdX is one of the few profitable DeFi protocols, generating more revenue than it pays out in rewards. This attracts professional traders.
Transparency of funds on Ethereum provides assurances against misuse, unlike centralized exchanges like FTX.
dYdX offers regulatory arbitrage, with better accessibility than centralized exchanges in some jurisdictions.
Traders praise lower fees on dYdX for depositing, withdrawing, and trading in many cases.
Upcoming v4 release will decentralize orderbook, allow permissionless listings, and distribute fees to token holders.

coindesk.com

Relevant topic timeline:

8/26/2023

Crypto builders should ‘give up’ serving US customers for 5–10 years — DYdX founder

Antonio Juliano, founder of decentralized exchange dYdX, believes that early-stage crypto projects should prioritize markets outside the United States and only consider serving U.S. customers in 5-10 years when the regulatory climate is more favorable, in order to scale faster and focus on platform growth and user adoption.

9/6/2023

DYdX to launch decentralized order book exchange on Cosmos: KBW 2023

Decentralized exchange platform dYdX plans to migrate to the interchain network Cosmos and offer a purely decentralized order book exchange, according to CEO Charles d’Haussy.

9/20/2023

dYdX Decentralized Exchange Moving to Its Own Blockchain Citing Ethereum Scalability Issues

Antonio Juliano, founder of decentralized exchange dYdX, discusses the upcoming launch of the dYdX blockchain built on Cosmos technology, highlighting the need for scalability and decentralization in order to meet the demands of institutional traders and create a fully decentralized platform.

9/23/2023

BitMEX Evolves Under New Leadership to Offer More Sophisticated Crypto Trading

BitMEX, the derivatives exchange known for popularizing perpetual swaps, has undergone changes and has a new CEO, Stephan Lutz, who discusses market trends, crypto cycles, and the evolution of BitMEX. Lutz emphasizes the importance of diversifying portfolios, managing risk exposure, and using derivatives like perpetual swaps to reduce capital exposure and amplify profit and loss through leverage. BitMEX is also exploring the possibility of listing options in response to market demand.

10/14/2023

Whales Accumulating DYDX, OCEAN, and REQ Tokens as Ethereum Wallets Grow, Traders Eye ETH Price Action

Crypto analytics platform Santiment suggests that decentralized exchange protocol dYdX, data exchange platform Ocean Protocol, and crypto payments network Request may be poised for a turnaround as whale activity increases, while Ethereum (ETH) is experiencing a rise in social dominance and movement of old coins.

10/27/2023

dYdX Launches New Blockchain with Unique Fee Model to Reward Validators

The decentralized derivatives platform dYdX has implemented a new tokenomics scheme, with trading fees now being denominated in both the stablecoin USD Coin and the platform's native governance token DYDX, giving validators the choice of currency; DYDX can also be used for staking purposes and holders can delegate their holdings to other validators, with all fees generated from trading being distributed to validators and stakers.

10/27/2023

dYdX Launches New Blockchain with Staking Rewards in USD Coin

Decentralized cryptocurrency exchange dYdX has launched its layer-1 blockchain, the dYdX Chain, which operates on native DYDX tokens and distributes fees to validators and stakers in USDC.

Topics

Posted 9/28/2023, 3:28:00 PM

Decentralized Exchange dYdX Attracts Traders with Profitability, Transparency, and Lower Fees

dYdX is one of the few profitable DeFi protocols, generating more revenue than it pays out in rewards. This attracts professional traders.
Transparency of funds on Ethereum provides assurances against misuse, unlike centralized exchanges like FTX.
dYdX offers regulatory arbitrage, with better accessibility than centralized exchanges in some jurisdictions.
Traders praise lower fees on dYdX for depositing, withdrawing, and trading in many cases.
Upcoming v4 release will decentralize orderbook, allow permissionless listings, and distribute fees to token holders.

coindesk.com

Relevant topic timeline:

8/26/2023

Crypto builders should ‘give up’ serving US customers for 5–10 years — DYdX founder

9/6/2023

DYdX to launch decentralized order book exchange on Cosmos: KBW 2023

Decentralized exchange platform dYdX plans to migrate to the interchain network Cosmos and offer a purely decentralized order book exchange, according to CEO Charles d’Haussy.

9/20/2023

dYdX Decentralized Exchange Moving to Its Own Blockchain Citing Ethereum Scalability Issues

9/23/2023

BitMEX Evolves Under New Leadership to Offer More Sophisticated Crypto Trading

10/14/2023

Whales Accumulating DYDX, OCEAN, and REQ Tokens as Ethereum Wallets Grow, Traders Eye ETH Price Action

10/27/2023

dYdX Launches New Blockchain with Unique Fee Model to Reward Validators

10/27/2023

dYdX Launches New Blockchain with Staking Rewards in USD Coin

Decentralized cryptocurrency exchange dYdX has launched its layer-1 blockchain, the dYdX Chain, which operates on native DYDX tokens and distributes fees to validators and stakers in USDC.