dYdX is a decentralized exchange (DEX) that allows users to trade cryptocurrency without intermediaries. It operates based on smart contracts and provides access to advanced financial instruments, including margin trading and perpetual futures. dYdX is built on the Ethereum blockchain, ensuring transparency, security, and decentralization of operations.
The exchange uses its own token DYDX, which is used for voting in the platform's governance system and earning rewards for active participation in the ecosystem. The popularity of dYdX is related to low fees and the ability to interact directly with liquidity through decentralized infrastructure.
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