dYdX Chain becomes largest DEX in terms of volume

By dYdX
Jan 18, 2024, 6:04 PM
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dYdX Chain has become the largest decentralized exchange (DEX) in the world by trading volume, reaching over $930 million in 24-hour trading volume.​ However, dYdX products are currently unavailable to US/restricted persons.​ Furthermore, it should be noted that dYdX doesn't operate or control dYdX Chain infrastructure, which is owned and operated by the @dydx_ops_subdao.​ The @dydx_ops_subdao is an independent third-party and is not affiliated with dYdX.​

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dYdX Chain launched by the @dydx_ops_subdao !! 🥳🎊🎉 Check out the details below:

dYdX Ops subDAO
dYdX Ops subDAO
@dydx_ops_subdao

The dYdX Chain has officially launched 🎉 At 17:00 UTC today, dYdX Chain Validators created the Genesis block of the dYdX Chain 📢The dYdX Operations subDAO public front-end for bridging is set to go live on October 30, 2023 (subject to confirmation) dydxopsdao.com/blog/dydx-chai…

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Now you can see analytics/data in real time from dYdX Chain 🧠 Shoutout to @chaos_labs for furthering accessibility and transparency for our open-source software. dydx.trade

Chaos Labs
Chaos Labs
@chaos_labs

1/ Chaos Labs is excited to introduce the dYdX Chain Analytics and Risk Monitoring Portal! This platform is a pivotal piece in our ongoing efforts to support the @dydx community in the launch of the dydx Chain and the Launch Incentives Program.

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The Alpha period for the @dydx_ops_subdao (DOS) dYdX Chain is now live 🍎 The Alpha period will consist of bridging & staking while the security and efficacy of the chain is confirmed by the DOS. See more details here:

dYdX Ops subDAO
dYdX Ops subDAO
@dydx_ops_subdao

After the successful launch of the dYdX Chain yesterday at 17:00 UTC, we are in the Post Genesis Phase & this involves two crucial stages; 🔒Alpha - Network Gains Security 🖥️ Beta - Limited Trading Enabled In this 🧵 we deep dive on the Alpha Stage dydxopsdao.com/blog/dydx-chai…

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The Beta period for the dYdX Chain run by the dydx_ops_subdao is here! 🔥🔥 Traders can now start trading on the dYdX Chain in a limited capacity. Try it out: dydx.trade

dYdX Ops subDAO
dYdX Ops subDAO
@dydx_ops_subdao

The Beta Stage is live on dydx.trade 🎉 After the dYdX community voted to transition to the Beta Stage, the dYdX Chain now offers 📊 Perpetual Trading in 33+ Markets 🤝 Trading Fees accrue to Validators and Stakers Read the blog 👇 dydxopsdao.com/blog/dydx-chai…

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See here for updates on dYdX Chain Launch Incentives program from @chaos_labs 👇👇👇

Chaos Labs
Chaos Labs
@chaos_labs

1/ dYdx Launch Incentives Program Mid-Season Update 🥇 🥈 🥉 On November 28th, 2023, the @dYdX community voted to transition the dYdX Chain to full trading. This enabled the transition to staking rewards, trading rewards, and the launch of the 6-month launch incentive program.

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Read more about dYdX

🤖 Telegram Trading Bot

dYdX launched **Pocket Pro Bot**, bringing professional trading directly into Telegram chats. The bot enables users to: - Trade 200+ perpetual markets and Solana tokens - Execute trades with up to 50x leverage using simple commands - Copy trades and compete on social leaderboards - Access real-time alerts and P&L tracking The integration targets the next 100 million Web3 users by **meeting them where they already communicate** - in Telegram groups. No separate apps or extensions required. Key features include: - One-command trading for long/short positions - Social trading with friends in group chats - Instant position management - Cross-platform compatibility To celebrate the launch, dYdX is running a **$100,000 trading competition** until October 31, with both individual and squad leaderboards. The move represents a shift toward integrating deeper into user behavior rather than just building new interfaces. [Learn more about the Pocket Pro Bot](https://www.ccn.com/education/crypto/dydx-telegram-bot-crypto-trading-guide/)

🚀 2Z Token Launches

**dYdX adds new trading pair with leverage** - **#2Z token** (@doublezero) now available for trading - **Up to 5x leverage** supported on the platform - Direct trading link: [dydx.trade/trade/2Z-USD](https://dydx.trade/trade/2Z-USD) **Risk warnings included:** - Low liquidity and high volatility expected - Increased liquidation risk for leveraged positions - Listing does not constitute endorsement - Users advised to only trade familiar assets **Key reminder:** Exercise control and understand risks before trading. This follows dYdX's pattern of instant market listings, allowing users to trade new tokens with immediate liquidity through their platform.

dYdX Launches Surge Season 7 with Zero Trading Fees for Front-End Users

dYdX Launches Surge Season 7 with Zero Trading Fees for Front-End Users

**dYdX has launched Surge Season 7**, eliminating trading fees entirely for front-end users. **Key Features:** - **0.00% fees** for all web and mobile traders - **50% fee rebates** for API traders - **$1M in $DYDX rewards** available - Claims to be the **cheapest place to trade DeFi perpetuals** This represents a significant upgrade from Season 6, which offered 50% fee rebates. The new season provides 100% fee rebates for front-end users while maintaining substantial rewards for API traders. [Learn more about Surge Season 7](https://www.dydx.xyz/blog/fee-free-trading-1m-rewards-surge-season-7-launches-on-dydx)

dYdX Adds HOLO Trading with 5x Leverage

**dYdX has listed $HOLO** from @HoloworldAI for trading with up to 5x leverage. Traders can now access the token through the platform's instant market listing feature. This follows recent additions of other tokens including Tesla tokenized stock ($TSLAX) and Sky Ecosystem ($SKY). **Key details:** - Available immediately on dYdX - Up to 5x leverage supported - Part of dYdX's expanding token offerings The exchange continues its pattern of adding new trading pairs to provide more options for users. [Start trading HOLO](https://dydx.trade/trade/HOLO-USD?utm_source=dYdXTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial)

dYdX Details Token Utility Strategy

dYdX outlined its comprehensive strategy to maximize **$DYDX token utility** through multiple interconnected mechanisms. **Current Features:** - Staking $DYDX earns USDC from protocol fees while securing the network - **25% of net protocol fees** fund monthly buybacks (4M+ DYDX already repurchased) - Purchased tokens are staked to validators, boosting security **Coming Soon:** - **5-10% validator commission discounts** for stakers - Direct USDC ↔ DYDX swapping via Osmosis integration - One-click staking after purchase **The Strategy:** Create a flywheel where trading activity feeds back into token value through rewards, governance, and network security. Each component reinforces the others - trade to earn, stake to secure, govern to steer. dYdX emphasizes that protocol success should directly connect to governance token performance, strengthening the community-run network. [Read the full 2025 roadmap](https://www.dydx.xyz/blog/august-roadmap-update)

DeFi