What is DerivaDAO?
DDX is the ERC-20 native token of DerivaDAO, a decentralized autonomous organization that governs DerivaDEX, a decentralized exchange (DEX) for trading derivatives contracts built on Ethereum. Similar to a centralized exchange (CEX) DerivaDAO uses an open order book with on-chain settlement, leveraging off-chain price feeds, matching engines, and liquidation operators for efficient trading of synthetic assets. DDX token holders earn voting rights to participate in community governance for decisions to be made on changes within DerivaDAO. DDX is also used to pay for DerivaDEX trading fees, and may be staked or bonded by operators of price feeds and matching engines.
