Background:
As a reminder, the dYdX v3 exchange has an offshore matching engine supported by dYdX Trading. All funds and settlement on v3 occur on smart contracts controlled by tokenholder governance. Trading fees on v3 accrue to dYdX Trading.
By contrast, dYdX Chain is fully decentralized. All of the trading fees paid on dYdX Chain accrue to validators and DYDX stakers. All dYdX Chain code is open source.
What are we doing?
dYdX Trading is exploring strategic alternatives related to the v3 technology, which does not include the Ethereum smart contract or other technology governed by the utility token. Token holders would, of course, have to vote to approve any changes to the smart contracts that underly v3.
Why are we doing this?
dYdX Trading is all in on dYdX Chain. While v3 has been successful, we believe dYdX Chain better represents the vision of dYdX Trading Inc. and the ethos of DeFi, and we will be dedicating ourselves to the development of this software.
Considering strategic alternatives for the v3 technology is a way to clarify our focus to allow us to make dYdX Chain software as successful as possible.
What’s next?
We have some incredible things in store for the dYdX Chain software. Novel new liquidity mechanisms including an integration with our friends at Elixir, permissionless market listings, and new ways to trade, all coming in the next few months.
Check out our product roadmap here.
Legitimacy and Disclaimer
© 2025 dYdX International Ltd. All rights reserved.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as for Restricted Persons as set out in the dYdX Software Terms of Use, accessible: https://dydx.exchange/v4-terms. dYdX International Ltd (“DI”) does not develop, control or participate in the operation of any component of the dYdX Protocol (including the MegaVault).
The information provided in this website is for general informational purposes only and DI reserves the right to update, modify, or amend any contents herein, at its sole discretion and without prior notice. Nothing herein should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act in any way by anyone.
Engaging in any activity involving crypto-assets (including trading crypto assets and depositing into the MegaVault) is risky due to high volatility. Returns are not guaranteed and may fluctuate over time depending on multiple factors, and you may lose your entire investment, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be suitable for retail investors. You should perform your own research and due diligence before engaging in any activity involving crypto-assets.
In no event will DI be liable for any loss or damage, including without limitation, indirect or consequential loss or damage, arising from or in connection with the use of this website. By continuing to access this website, you agree to the above and accept the possibility of changes in the information provided.
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