dYdX is a decentralized derivatives exchange that provides users with key financial instruments such as perpetual contracts, margin and spot trading, and borrowing. dYdX provides traders with an off-chain order book settled on the chain, allowing them to sell short tokens, increase risk exposure through leverage, or earn interest on deposited tokens to generate profits.
On October 20th, dYdX announced that its new platform dYdX Unlimited will be launched soon, bringing multiple powerful features including MegaVault, permissionless marketplace, rewards program, and affiliate program. This series of updates will provide users with more freedom, rewards, and revenue opportunities, further enhancing the platform's competitiveness.