Dydx is a set of protocols that allow any financial product to issue and trade erc20 tokens. Dydx takes off chain orders and on chain matching to create an effective market. All described agreements are fair and not subject to the jurisdiction of central authorities. The protocol can be extended by anyone without special permission and other smart contracts.
Dydx is a governance token that allows the dydx community to hold and govern the dydx protocol. It is mainly used for dydx agreement management and service charge discount.
Dydx is a decentralized derivatives exchange. Different from the common automatic market maker mode (AMM), dydx adopts the order book mode, which supports spot trading, margin trading and contract trading.
The dydx agreement aims to create an efficient, fair and untrusted financial market that is not controlled by any centralized institution.
In the upsurge of defi, the trading volume of DEX continues to rise, and new DEX is also pouring in. The exchange of AMM mode continues to emerge, but there is a lack of DEX like order book mode to facilitate users’ trading.
Based on the ox agreement, specific futures certificates are launched to participate in derivatives trading. Dydx builds derivatives smart contracts on the basis of ox agreement. Developers can launch specific futures passes to long or short the corresponding passes, and the contracts automatically execute transactions.
Team member information
The founder of dydx, who graduated from Princeton University in 2015 and majored in computer science with a Bachelor of Science degree, interned in mongodb before graduation. After graduation, he first worked as a software engineer in coinbase. After working for one year, he entered Uber to continue working as a software engineer. In 2017, he founded a search component in decentralized network called weipoint, and founded dydx in August 2017.
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