What is DYDX
DYDX is the ERC-20 governance token for dYdX, a non-custodial decentralized margin trading, lending, and derivatives protocol. DYDX token holders earn voting rights for proposals to add new features to the protocol. dYdX allows for the creation and exchange of new asset classes deriving their value from underlying blockchain assets, using off-chain order books with on-chain settlement to allow for the creation of efficient derivative markets. dYdX enables users to trade perpetual contracts with low fees, deep liquidity and up to 25x increased buying power.