dYdX is a decentralized application built on the Ethereum network, allowing for decentralized leveraged trading through smart contracts since 2017. Last year, dYdX announced its plan to transition to their own blockchain for a stronger, more decentralized, and optimized token economy.
Currently, operations on the decentralized exchange take place on Starkware, a layer two solution on the Ethereum network, with proofs being sent to the Ethereum main chain.
With the V4 update announced in 2022, dYdX will operate on a customized blockchain for their decentralized application in the future. This update will also provide an opportunity to participate in the network's revenue by holding dydx tokens. It aims to realize a significantly different vision for a decentralized exchange.
For more detailed information, we recommend watching our video and exploring the dYdX documentation. To stay updated on dYdX developments, news, technical analysis, and updates, you can follow dYdX Turkey's social media channels and stay connected with us.