dYdX (DYDX) is the native cryptocurrency token of the dYdX Chain, a proof-of-stake blockchain network built using the Cosmos SDK and leveraging CometBFT for consensus ¹. It's primarily used for governance, staking, and transaction fees within the dYdX ecosystem, which focuses on decentralized trading of cryptocurrencies with low fees and deep liquidity ².$DYDX

*Key Features:*

- _Decentralized Governance_: DYDX holders can participate in governing the dYdX Chain ¹

- _Staking_: DYDX can be staked to secure the chain and earn rewards ¹

- _Trading Rewards_: Users can earn DYDX rewards for trading on the dYdX platform ²

- _Low Fees_: dYdX offers attractive fee structures for trading ²

*Token Information:*

- Market cap: $580,461,241 ¹

- Circulating supply: 643,931,707 DYDX ¹

- Total supply: 773,049,776 DYDX ¹

*Migration to dYdX Chain:*

ethDYDX, a governance token for the dYdX v3 protocol, is undergoing migration to dYdX Chain DYDX, with approximately 75% of all ethDYDX already bridged ³.

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