Key Stats

Total Value Locked24H
in USD$228.9M-0.6%
in ETH157.1K ETH+2.8%
in BTC4.9K BTC-0.8%
ETH Locked138.2K ETH-320 ETH
% Supply Locked0.12%
Most Locked$WETH
Protocol Token-

Total Value Locked (USD) in dYdX

  • TVL (USD)
  • ETH
  • DAI
  • All
  • 1 Year
  • 90 Day
  • 30 Day
defipulse chart

What is dYdX?

dYdX is a non-custodial trading platform on Ethereum geared toward experienced traders. Powered by the dYdX team’s latest open source protocol, Solo, the dYdX platform lets users lend, borrow, or margin trade any supported asset (as of March 2020: ETH, Dai, and USDC, with more planned). Borrowers’ interest rates vary by asset and adjust with supply and demand. Interest continuously accrues and is paid to lenders, minus 5% which is set aside for dYdX's insurance fund. Borrowed funds must initially be collateralized with 125% of their value; liquidation occurs if that ratio falls below 115%. Liquidation comes with a 5% penalty, which other dYdX users can take advantage of by running a bot such as the one open-sourced by dYdX. Traders can take leveraged long positions of up to 5x their collateral’s value (4x for shorts). Loans and margin trades can remain open for a max of 28 days, after which they’re automatically closed out with a 1% expiration fee. dYdX’s latest version launched on the Ethereum mainnet on May 1, 2019. As of March 2020, the dYdX platform now charges trading fees, 0.15%-0.5% for takers and 0.00% for makers. dYdX has no native token and has passed two security audits.

How to use dYdX?

To get started, visit dYdX’s interface and enable MetaMask, which connects your Ethereum address to your dYdX account. You can access some features directly from your wallet, but be sure to fund your dYdX account to enable all trading options and start earning interest.