dYdX is a decentralized exchange for trading perpetual futures. Through dYdX, traders can get synthetic long or short exposure to assets such as BTC, ETH, SOL, AVAX, and many other L1s and DeFi coins. Collateral is held as USDC and cross margin is enabled inherently (so a user can hold multiple positions.) Traders can hold positions with up to 20x leverage.
dYdX V4 is an application specific blockchain built with the Cosmos SDK. The exchange is fully non custodial with orderbook matching and storage facilitated by validators. The DEX also has an internalized oracle thanks to ABCI++ and an open source frontend. Circle's CCTP is utilized for easy bridging to to the chain with a simple UX.
