What it does
dYdX separates the exchange interface from a blockchain dedicated to trading. Orders and positions belong to the dYdX Chain, while users can reach markets through web, mobile and API interfaces. This is the current chain product; old Ethereum Layer 2 reward pages describe a different era.
The practical starting point is the market specification: margin requirements, funding and liquidity matter more than the maximum advertised leverage. For an API strategy, also check which interface or integration counts toward a particular promotion; protocol trading rewards and a temporary trading contest are separate programs.
Where it stands out
- An orderbook model supports deliberate order placement and programmatic trading.
- Dedicated chain documentation makes exchange mechanics and governance changes inspectable.
What you can do
- 01Perpetual futures order books
- 02Web, mobile and API access
- 03Chain-level trading rewards and market parameters
Who’s behind it
dYdX Trading Inc. is a product contributor. Its company announcement identifies Antonio Juliano as founder and describes the 2025 integration of several Foundation business teams.
Fees & availability
Fees and costs
Maker/taker tiers and market parameters are published in the trading documentation. Funding, spread and any interface-specific charges also affect the final cost.
Eligibility and availability
The official interface excludes U.S. users and other Restricted Persons. Chain access does not establish legal eligibility or eliminate liquidation risk.