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dYdX (DYDX) Price

DYDX

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Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.

Digital currencies are very high risk. Do not invest money you can’t afford to lose. Please consider the suitability of crypto for your individual position before trading.

Token Description & Project Background

DYDX is a decentralized exchange (DEX) that provides trading services, including access to crypto spot pairs, perpetual futures, and lending/borrowing facilities. The platform utilizes StarkWare’s layer-2 scalability engine, known as “DYDX layer-2” to eliminate the reliance on traditional centralized intermediaries. This approach ensures high levels of transparency, security, and speed. 

The native currency of the DYDX protocol is DYDX. It primarily serves as a governance token, granting holders the right to vote on future protocol changes. Additionally, token holders are rewarded for providing liquidity and enjoy discounted trading fees based on the current holding of DYDX tokens. 

According to the project’s whitepaper, DYDX combines off-chain order books with on-chain settlement, enabling the creation of new asset classes that derive value from existing blockchain-based assets. 

The DYDX platform is open source and smart contract enabled, allowing users to engage in permissionless lending, borrowing, and trading of digital assets. The protocol’s governance is fully decentralized and overseen by the DYDX foundation. 

DYDX was founded by Antonio Juliano, who previously a developer at Coinbase and Uber. 

Risks of DYDX

Like an investment in other crypto assets, there are some general risks to investing in DYDX. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in DYDX is subject to the following specific risks:

  • DYDX operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks. Furthermore, the project’s future trajectory hinges on the decisions made by a global community of DYDX token holders. 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with DYDX. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The DYDX community and aforementioned founders are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of DYDX have no recourse to DYDX holders, founder, or Uphold if DYDX declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing DYDX on the Uphold Platform, Uphold performed due diligence on DYDX and determined that DYDX is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of DYDX, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of DYDX.
  • Any marketing materials put forward by the DYDX social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with DYDX, including any code defects, security breaches and other threats concerning DYDX and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with DYDX, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of DYDX.

How to buy dYdX (DYDX)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

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0% withdrawal fees

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© Uphold 2024. All Rights Reserved.

Uphold (FRN: 938277) is registered with the Financial Conduct Authority (FCA) for AML purposes and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer).

Uphold is also an EMD agent (FRN: 900577) of Optimus Cards UK Limited (FRN: 902034) which is authorised and regulated by the Financial Conduct Authority to issue e-money pursuant to the Electronic Money Regulations 2011.

The purchase, sale and custody of cryptoassets are regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Cryptoassets are very high risk and speculative.  When purchasing, selling and/or holding cryptoassets, you will not have access to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) if something goes wrong. You should be aware and prepared to potentially lose some or all of your money. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial circumstances.

Fiat money payments and balances (fiat is another name for traditional currencies, such as GBP, USD and EUR) constitute regulated e-money and payment services. In providing fiat balances, you are being issued with e-money by Optimus and Uphold is acting as its agent. See specific e-money terms. E-money is not a deposit or investment account which means that your e-money will not be protected by the FSCS. Your funds will be held in a designated safeguarding account with a regulated financial institution. E-money will not earn any interest.

Additional risk warnings are contained in Uphold’s Terms & Conditions