dYdX is a protocol for the decentralized exchange of cryptoasset derivatives.
dYdX is a blockchain protocol for decentralized derivatives and margin trading of cryptoassets. thatit was created in 2017 by Antonio Juliano in San Francisco, California. dYdX utilizes Ethereum smart contracts to settle trades from off-chain order books. They present a set of protocols that allow several types of financial products to be created, issued, and traded for any pair of underlying ERC20 tokens. Their approach uses off-chain order books with on-chain settlement to allow creation of efficient markets. All described protocols are trustless, attempting to create open markets that are not governed by a central authority. The protocols are extensible, requiring no special permissions to be used with other smart contracts.
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