What is the dYdX Chain?

dYdX Chain is a custom Cosmos SDK blockchain that hosts the fully decentralized dYdX v4 perpetuals exchange, with order matching done on-chain by validators.

Can I swap DYDX without KYC?

Yes. SyntheticSwap supports DYDX swaps with no registration or identity verification required.

How do validators earn on dYdX Chain?

dYdX Chain validators and stakers earn 100% of protocol trading fees distributed in USDC, providing real yield for participating in network security.

Is dYdX available in the US?

dYdX geo-blocks US users from its front-end interface due to regulatory concerns, though the underlying protocol is permissionless.

What is the difference between DYDX and ethDYDX?

ethDYDX is the original ERC-20 token on Ethereum; DYDX is the native token on dYdX Chain. A bridge allows conversion between the two.

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dYdX

Leading Decentralized Perpetuals Exchange with Its Own Chain

Launch Year

2021

Consensus

Proof of Stake

Max Supply

1,000,000,000 DYDX

Block Time

~1 second

DYDX

dYdX

Price—

24h Change—

Market Cap—

Volume (24h)—

Circulating Supply—

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dYdX Price Chart

DYDX / USD

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Data by CryptoCompare

About dYdX

dYdX (DYDX) is the governance token of dYdX Protocol, one of the largest decentralized derivatives exchanges by volume. Originally built on Ethereum and later StarkEx (a ZK-rollup), dYdX migrated to its own Cosmos SDK-based blockchain — dYdX Chain — in 2023, enabling full decentralization of its order book and matching engine. DYDX holders stake tokens to secure the network, participate in governance, and earn trading fee revenue. dYdX supports perpetuals trading for BTC, ETH, and 35+ other markets with deep liquidity comparable to centralized exchanges.

History

2017

dYdX founded by Antonio Juliano, former Coinbase engineer, as a decentralized margin trading protocol.

2021

DYDX governance token launches via retroactive airdrop; dYdX becomes top perpetuals DEX by volume.

2022

dYdX v4 development announced — a move to a fully decentralized, app-specific Cosmos blockchain.

2023

dYdX Chain mainnet launches; DYDX token migrates to the new chain as native staking/governance token.

2024

dYdX Chain processes billions in monthly volume; validators and stakers earn real trading fee revenue in USDC.

How to Swap DYDX

Swapping dYdX (DYDX) on SyntheticSwap is easy and requires no account or KYC. DYDX is part of the Cosmos ecosystem, supported by Keplr, Leap Wallet, Cosmostation, and Ledger. Select DYDX in SyntheticSwap, choose your target asset, provide a receiving wallet address, and confirm the exchange rate. After sending DYDX to the deposit address, the destination asset is automatically delivered to your wallet once the IBC or on-chain transaction is confirmed.

How to Store DYDX

DYDX on dYdX Chain is stored in Cosmos-compatible wallets like Keplr or Leap. The Ethereum version (ethDYDX) can be stored in MetaMask, Ledger, or any EVM wallet. For staking and governance, use the dYdX Chain directly via the dYdX web app or a validator dashboard.

Popular Pairs

ETH

BTC

Frequently Asked Questions

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