dYdX
WETHDYDX Price
No trading activity recorded by exchanges integrated on CoinGecko in the past 2 weeks
WETHDYDX Converter
dYdX (WETHDYDX) Price Today
The price of dYdX (WETHDYDX) is $0.2870 today with a 24-hour trading volume of $0.00. This represents a 0.0% price increase in the last 24 hours.
Wrapped Ethereum DYDX (wethDYDX)
wethDYDX is a wrapped version of ethDYDX obtained when a user interacts with the wethDYDX Smart Contract. wethDYDX cannot be bridged to the dYdX Chain via the wethDYDX Smart Contract and any wethDYDX tokens sent to the wethDYDX Smart Contract will be permanently locked and irrecoverable.
Ethereum-based DYDX (ethDYDX) launched on August 3, 2021. The ethDYDX token is a governance token for the dYdX Layer 2 protocol built on Ethereum (“dYdX v3”). Token holders are able to govern certain parameters of dYdX v3 to align incentives between traders, liquidity providers, and partners. The ethDYDX token enables a robust ecosystem around governance, rewards, and staking - each of which is designed to drive future growth and decentralization of dYdX v3.
wethDYDX token is a wrapped version of ethDYDX obtained when a user interacts with the wethDYDX Smart Contract.
The dYdX community through dYdX v3 governance voted to give wethDYDX the same governance and utility functions as ethDYDX in dYdX v3.
Read this detailed article to learn how dYdX v3 works.
Migration to the dYdX Chain
On June 22, 2022, dYdX Trading Inc.(“dYdX Trading”) announced the next iteration of the dYdX protocol - the dYdX Chain Open Source Software. The dYdX Chain is a proof-of-stake blockchain network and, as such, it requires a Layer 1 (“L1”) protocol token for staking to validators in order to secure the chain and for stakers of the L1 token to govern the network. Holders of the L1 token can use their tokens to run a Validator or stake their tokens to a Validator in order to participate in securing and governing the network.
The wethDYDX Smart Contract enables a potential migration of ethDYDX from Ethereum to the dYdX Chain.
When interacted with, the wethDYDX Smart Contract would carry out the following functions in a fully permissionless and automated manner:
-
Receive and permanently lock the ethDYDX tokens sent by the user to the wethDYDX Smart Contract;
-
Send a wrapped version of the Ethereum-based DYDX token (“wethDYDX”) to the user on a 1-1 proportional basis on Ethereum; and
-
dYdX Chain validators can also read and ingest the information in the wethDYDX Smart Contract such that corresponding DYDX can be distributed to users by validators on the dYdX Chain once there is confirmation that Step 1 above is complete and the ethDYDX is permanently locked in the wethDYDX Smart Contract.
Please note that wethDYDX tokens cannot be bridged to the dYdX Chain and, if sent to the wethDYDX Smart Contract, will be lost.
More information about the migration of ethDYDX from Ethereum to dYdX Chain is available here.
Where can you buy dYdX?
WETHDYDX tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade dYdX is N/A, where the most active trading pair wethDYDX/WETH has a trading volume of $0.00 in the last 24 hours.
What is the liquidity of dYdX (WETHDYDX)?
The total liquidity of dYdX is $0.00. If you own WETHDYDX tokens, liquidity of the token is low and prices may differ drastically. Proceed with caution.
What is the liquidity of dYdX (WETHDYDX)?
The fully diluted valuation (FDV) of dYdX (WETHDYDX) is $153,721,218. This is a statistical representation of the maximum market cap, assuming the maximum number of WETHDYDX tokens are in circulation today.