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What is dYdX?

DYDX is a decentralized protocol for margin trading and derivatives on the Ethereum blockchain. It allows users to trade and speculate on the prices of various assets, including cryptocurrency pairs, using leverage. The DYDX protocol uses smart contracts to allow users to open and close margin positions and manage the underlying collateral for those positions. It also offers a number of features to help users manage risk, such as automatic liquidation. One of the main advantages of the DYDX protocol is that it allows users to trade on margin without going through a centralized exchange or intermediaries. This means that trades can be settled directly between users, reducing the risk of counterparty default and making trading faster and more efficient. You can safely and reliably buy, sell, send and store DYDX at LiteBit.

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What is dYdX? A decentralized exchange explained

Dec 20, 2022

Decentralized finance is not only about providing liquidity and generating revenue. Trading has become one of the major use cases of the constantly evolving industry. But how to bring an exchange with features like order books and even futures trading right on the blockchain? Several projects are working on solutions that provide full fledge decentralized exchanges.

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