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Difference between revisions of "Dydx"
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[[File:Dydx.png|thumb|dydx]] | [[File:Dydx.png|thumb|dydx]] | ||
dYdX<ref>https:// | dYdX<ref>https://dxdy.exchange</ref> is a [[Layer 2|L2]] [[DEX]] that currently supports [[perpetual trading]]. dYdX runs on smart contracts on the [[Ethereum]], and allows users to trade with no intermediaries.<ref>https://help.dydx.exchange/en/articles/3047379-introduction-and-overview</ref> It was founded in 2019 by [[Antonio Juliano]] and launched in 2020. | ||
Trades are settled in an L2 (layer-2) system, which publishes ZK (zero-knowledge) proofs periodically to an Ethereum smart contract in order to prove that state transitions within L2 are valid. Funds must be deposited to the Ethereum smart contract before they can be used to trade on dYdX. | Trades are settled in an L2 (layer-2) system, which publishes ZK (zero-knowledge) proofs periodically to an Ethereum smart contract in order to prove that state transitions within L2 are valid. Funds must be deposited to the Ethereum smart contract before they can be used to trade on dYdX. | ||