dYdX is a leading decentralized finance (DeFi) protocol exchange focusing on trading and investment tools like perpetual futures, a type of derivative that allows traders to speculate on the price of a crypto asset without owning it. 100% of protocol fees are distributed to DYDX stakers for bolstering the chain’s security.

Fireblocks offers secure and efficient access to dYdX’s decentralized exchange features.

About dYdX

Since its inception in 2017, dYdX has provided non-custodial trading and support for popular trading pairs, including Ethereum, Bitcoin, Solana, Polygon, Avalanche, and Uniswap.

In October 2023, the dYdX Chain open-source software was deployed, and the dYdX Chain validators created the first block. The chain is a proof-of-stake blockchain network built using the Cosmos SDK. The motivation behind the move was full decentralization, higher throughput, and customizability. This switch has enabled the team to reach their immediate goals of decentralization and performance while implementing exciting new features like Isolated Markets, LP Vaults, and more.

What Fireblocks users can do with dYdX

Fireblocks users can do the following with DYDX:

• Custody DYDX in their Fireblocks Vault.
• Securely transfer DYDX on the Fireblocks Network.
• Stake DYDX through our staking partners Figment and Kiln.

dYdX: At a glance

Since the dYdX Chain’s launch six months ago, it has seen:

• $150+ billion in cumulative trading volume (source)
• $25.3 million in USDC distributed as staking rewards to over 20,000 stakers (source)
• An annual return rate of 19.2% as of May 28, 2024, according to Mintscan (source)
• 68 active markets with more markets added every week (source)