dYdX

dYdX is the Protocol for Decentralized Financial Derivatives. dYdX enables trustless peer-to-peer short sells and options on any ERC20 token. The protocol is open source and free to use.

dYdX is a protocol for short selling and derivatives built on the Ethereum blockchain. dYdX provides decentralized peer-to-peer shorting, lending, and options trading of any Ethereum based token. dYdX enables a wide array of financial strategies:

Short sells allow investors to profit on price decreases, and can be used for speculation or to hedge existing positions; Fully-collateralized low risk loans for short sellers allow token holders to earn interest fees; Options can be used to hedge positions, manage volatility, increase leverage, and more.

dYdX is fully trustless, so you’ll never need to trust your coins to an exchange or anyone else. dYdX utilizes the 0x Protocol for decentralized exchange functionality, as well as its own fully collateralized peer-to-peer lending protocol. dYdX uses off-chain order books with on-chain settlement to enable efficient markets. Using 0x orders for token exchange allows dYdX derivatives to use existing 0x buy/sell liquidity.