What is dYdX? - dYdX Crypto Derivatives DEX Protocol Explained
➤SUBSCRIBE FOR MORE CONTENT ➤ / @universityofcrypto 💹 TRY HYPERLIQUID PLATFORM ➤ https://app.hyperliquid.xyz/join/CRYP... 💹 START TRADING ON WOOFI ➤ https://pro.woofi.com/en/trade?ref=CR... This video answers the questions: What is dYdX Crypto? What is the dYdX Crypto DEX Derivatives Protocol? How does dYdX Crypto DEX Derivatives Protocol work? - dYdX Crypto DEX Derivatives/Perpetual DeFi Protocol will be explained. Timestamps: 0:00 Introduction 0:26 What is dYdX DEX? 1:26 How exactly does dYdX DEX work? 2:21 What is a DYDX token? 2:58 Future of dYdX protocol 3:47 Video end Perpetual contract trading, including margin trading, is permitted on the decentralized exchange (DEX) known as dYdX. The term "dYdX" refers to the derivatives idea in mathematics. Derivatives, which are written as "dy/dx" in calculus, explain the rate of change of a variable under specific input conditions. In conventional finance, the term "derivatives" refers to trader agreements to speculate on the future values of underlying assets. Leverage is frequently utilized to do this. These contracts, such as futures and options, can be purchased and sold on the market and receive their value from other securities, such as stocks. Historically, some centralized exchanges have given cryptocurrency traders the chance to employ leverage via margin trading perpetual futures contracts. Also known as everlasting swaps, these enable traders to place wagers on the future values of ETH, BTC, and other cryptocurrencies using borrowed assets. Through the use of margin trading for perpetual futures contracts, dYdX also makes use of leverage possible. The platform used the Ethereum mainnet to handle platform transactions up until 2021, when it switched to StarkEx, a type of zk-rollup that lowers gas costs for customers. The zk-rollup technology from StarkEx adds a second layer (also known as "layer 2") to the blockchain as a scaling option. It utilizes Ethereum's security while processing transactions quickly. Because of activity from the previous year, dYdX might support over 60,000 distinct depositors on its platform by July 2022. In order to give some of those depositors the chance to take part in community governance, staking, and trading fee reductions, the DYDX token was airdropped to some of them upon launch. Not only in this video various crypto topics will be explained. Remember to leave a like, and subscribe to the channel for more materials like this.
