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    dYdX

    DYDX

    Evaluation Score

    Overall rating on a scale of 0-10

    RiskReturn
    08.310
    Risk Level:
    High
    Recommendation:Buy
    Evaluated:December 4, 2025 (v6)

    Crypto Token Health Score Explained

    Our AI-powered health score evaluates on-chain metrics, community support, tokenomics, and more. This helps DeFi investors understand risk, compare tokens, and make informed decisions. Learn how to analyze DeFi tokens' risk and use these insights for DeFi portfolio risk management.

    AI Analysis

    Comprehensive evaluation of the token

    dYdX stands as a market leader in the decentralized perpetuals space, backed by a strong team, active development, and a highly engaged community. Its migration to the dYdX Chain and transition to a real-yield tokenomics model, where stakers earn USDC from protocol revenue, are significant fundamental strengths. However, the investment thesis is tempered by notable risks, including a history of significant security incidents and a high initial allocation of tokens to insiders (43%), which could create future sell pressure. While it faces intense competition, its market traction and robust ecosystem position it well for future growth.

    Detailed Analysis by Category

    Development Activity

    Code updates and developer engagement

    RiskReturn
    08.510

    Community Support

    Social media presence and community engagement

    RiskReturn
    08.210

    Tokenomics

    Supply, distribution, and utility

    RiskReturn
    08.210

    Market & Use Case

    Value proposition and competitive landscape

    RiskReturn
    08.510

    Team & Governance

    Team background and project governance

    RiskReturn
    08.810

    Security & Audits

    Security history and audit status

    RiskReturn
    07.810

    About dYdX (DYDX)

    dYdX (DYDX)

    dYdX is the native governance and staking token of the dYdX decentralized exchange. Built on Ethereum Layer 2 via StarkWare, dYdX powers protocol governance, fee discounts, and staking rewards for perpetual trading in DeFi.

    Key Features

    • Governance: Vote on proposals, protocol upgrades, and parameter changes.
    • Staking Rewards: Stake DYDX to earn network incentives and trading fee discounts.
    • Layer 2 Scalability: Leverages StarkWare for low-cost, high-throughput perpetual contracts.
    • Fee Sharing: Eligible token holders receive a portion of exchange fees.

    Token Metrics

    • Symbol: DYDX
    • Standard: ERC-20
    • Total Supply: 1,000,000,000 DYDX
    • Launch Date: August 2021
    • Network: Ethereum Layer 2 (StarkWare)

    Use Cases

    1. Governance Voting: Influence the future of the dYdX protocol.
    2. Staking: Secure the network and earn rewards.
    3. Fee Discounts: Reduce trading costs on dYdX Exchange.

    Resources

    • Official Website: https://dydx.exchange
    • Documentation & Whitepaper: https://docs.dydx.exchange

    Keywords: dYdX, DYDX, governance token, decentralized exchange, Layer 2, StarkWare, DeFi, perpetual trading

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