Will dydx drive the long tail market of cryptocurrency?

Fun coin 2021-09-14 14:07:24 阅读数:641

dydx drive long tail market

Qucoin reported ,9 month 8 Japan 23:00, Decentralized perpetual contract trading platform dYdX The governance token will be released on DYDX Transfer restrictions , Users can claim and transfer the rewards obtained , Including air drop rewards .

dYdX Express ,dYdX No intention of creating financial returns , Therefore, the foundation will not seek in any CEX or DEX go online . and dYdX The insurance pledge pool will be from 9 month 8 Japan 23:00 Start , To 2026 year 9 month 7 Japan 15:00:00UTC end , For five years .2.5% Of DYDX Tokens will be distributed through the liquidity pool dYdX Pledge user .

from 2017 year 12 Month to date ,dYdX stay 4 A total of... Was obtained in the round of financing 8700 Thousands of dollars , The investors include A16z、Polychain、 Three arrows capital (3AC)、Paradigm、Delphi Digital etc. .

According to the unlocking rules issued by the project party , Interest groups will be in 18 Months later, the first batch of tokens will be unlocked (30%), In the 19-24 Linear unlock the second batch of tokens in three months (40%), In the 25-36 Linear unlock the third batch of tokens in three months (20%), In the 37-48 Linear unlock the last batch of tokens in a month (10%).

8 month 27 Japan ,dYdX Of L2 Breakthrough in total product trading volume 100 Billion dollars . Daily trading volume exceeds 6.7 Billion dollars . Just a few days later ,8 month 30 Japan ,24 Hourly trading volume breakthrough 10 Billion dollars , exceed Uniswap V3, Rank DEX Top of the trading volume list .

Exchange is the core product of cryptocurrency industry , It is also one of the most mature products of profit model and development model , This conclusion goes through CEX Years of development have proved . from CEX To DEX, Development experience of trading market , It can make DEX Products are rising rapidly .

The demand of cryptocurrency exchange is trading , But the deal represents form , The essential goal of users is to invest , That is, the core demand is investment .

Let's divide the path of investors' demand upgrading , You can find DEX The progressive needs of .

Starting from the trading needs of investors , The following rules can be found :

1. Basic spot trading ( There is no targeted selection of trading pairs )

2. Upgrade spot trading ( Targeted selection of trading pairs )

3. Advanced spot trading ( Targeted and selective trading pairs 、 Transaction costs are required 、 Minimum loss )

4. Risk spot trading ( Targeted selection of trading pairs 、 Plus leverage )

5. Ordinary contract transactions ( Plus leverage 、 Do more 、 Short 、 Settle at any time )

6. Optimize contract transactions ( Targeted transactions are good for 、 Strategically long 、 Short 、 Require immediacy )

7. Other derivatives transactions ( Targeted transactions are good for )

2021 year 01 month 9 Japan ,dYdX Tweeted that , Since the product launch, the trading volume has exceeded 30 Billion dollars .1 month 11 Japan ,dYdX The trading volume of the day exceeded 1.2 Billion dollars . If from dYdX Calculate after the product goes online ,dYdX use 320 I finished the first 10 Billion dollar trading volume accumulation , use 124 Finish the second... In days 10 Billion dollar trading volume accumulation . And the third 10 The $billion increase in trading volume only took 46 God . Now breakthrough 100 Billion dollars of trading volume , These data prove dYdX The necessity of business and the growth potential of the contract market .

before , stay DEX Top ten in trading ,dYdX It's the only order book exchange , And now it's more than AMM Patterns represent Uniswap V3.

Contract trading is also a natural lending market . So to be precise ,dYdX It is a decentralized exchange that designs the cryptocurrency lending market and derivatives contract trading together , At present, it includes borrowing and lending 、 Spot trading 、 Contract trading three businesses .

dYdX The three businesses of the exchange are designed based on two protocols , Solo agreement and permanent agreement . The solo protocol is used to manage user base accounts and exchange transactions , The perpetual agreement is used for the execution and liquidation of the user's perpetual contract .

dYdX Take the form of order book transaction , And there are better off chain solutions to solve the problem of transaction matching . Without introducing complete layer2 When it comes to solutions ,dYdX Take the chain to execute transactions 、 Solve the experience problem by matching orders under the chain . But such , The contract matching process still needs to interact with the chain many times , Slightly higher gas fee . start-up Layer 2 After the solution , Ushered in the huge growth of transaction scale . The immediate reason is ,layer2 After starting ,dYdX Will be able to support more trading pairs and very low gas Fees facilitate the settlement of contracts .

before ,dYdX founder Antonio Express , In the next few years , Target online 30-50 A new deal for . This would mean higher volume expectations .

The reason why the volume of perpetual contracts is huge , Because as long as the price fluctuates, it will inevitably touch the liquidation of the transaction , This shortens the cycle of single comparison transactions by a single user , It is a trading product with excellent liquidity . And now in this track , There are not many competitors ,dYdX Has a strong first mover advantage .

Previously, the decentralized exchange with large trading volume was Uniswap、Curve、SushiSwap,Uniswap、Curve、Uniswap and SushiSwap Thanks to a large number of transactions , and Curve Benefit from DeFi The rise of mining . But the above three , Its trading mode is AMM Liquidity pool , These transaction models directly represent : Unable to design contract transactions . That's what it is. dYdX The competitiveness of the perpetual contract agreement . Smart contract is also a very effective way to solve the problems of financial credibility and transparency , Decentralized and sustainable contract products will be a model for the application of smart contract technology , It can also be exaggerated to say ,dYdX The perpetual contract agreement opens up the current DeFi Trading possibilities that the world does not have .

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