"dYdX is a Layer-2 decentralized exchange that operates on the Ethereum blockchain, offering various crypto-asset financial products. The governance token of the dYdX exchange is called DYDX.
The exchange provides support for perpetual futures, margin trading, borrowing, lending, and advanced trading features. It is built on Ethereum smart contracts. Additionally, dYdX offers programmatic trading and allows traders to build their trading bots on the platform.
dYdX ensures liquidity on its platform through staking pools. There are two types of staking pools: safety pools and liquidity pools. Both pools provide liquidity and support the creation of new markets on the Layer-2 protocol. Users receive staking rewards proportional to their share in the pools. Long-term holders of DYDX tokens also enjoy trading rewards and discounts as incentives."