A decentralized platform for your decentralized finance activity
dYdX is a decentralized platform for lending and borrowing assets and is based on Ethereum blockchain. It also offers a decentralized margin trading and betting tools for its users. On top of other DeFi platforms that focuses on lending and borrowing activities, dYdX, focuses more on building advanced trading tools on the Ethereum blockchain.
As of April 2020, dYdX has more than $500 million traded volume on its platform. The popularity comes from their decentralized margin trading platform where users can trade ETH, DAI, and USDC with up to 5x leverage. It competes directly with centralized exchanges such as BitMEX. dYdX was founded by Antonio Juliano in 2017 and at the time of writing offers isolated margin trading and cross margin trading in the DeFi space.