Ask about dYdX · freeTotal Value Locked$79.27m
TVL by Chain
dYdX$69.38m
Ethereum$9.89m
Key Metrics
Fees 30d$242,198
Fees 30d by chain
dYdX$242,198
Fees 7d$50,767
dYdX$50,767
Fees 24h$9,471
dYdX$9,471
Cumulative Fees$98.86m
dYdX$64.42m
Ethereum$34.43m
Revenue 30d$242,198
Revenue 30d by chain
dYdX$242,198
Revenue 7d$50,767
dYdX$50,767
Revenue 24h$9,471
dYdX$9,471
Cumulative Revenue$98.86m
dYdX$64.42m
Ethereum$34.43m
Holders Revenue 30d$242,198
Holders Revenue 30d by chain
dYdX$242,198
Holders Revenue 7d$50,767
dYdX$50,767
Holders Revenue 24h$9,471
dYdX$9,471
Cumulative Holders Revenue$64.42m
dYdX$64.42m
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$4.55m
Earnings 30d$242,198
Earnings 7d$50,767
Earnings 24h$9,471
Cumulative Earnings$98.86m
Perp Volume 30d$1.165b
Perp Volume 30d by chain
dYdX$1.165b
Perp Volume 7d$230.61m
dYdX$230.61m
Perp Volume 24h$50.44m
dYdX$50.44m
Cumulative Perp Volume$1.588t
Ethereum$1.211t
dYdX$377.69b
Open Interest$43.16m
Market Cap$92.69m
$DYDX Price$0.11
Fully Diluted Valuation$104.99m
Outstanding FDV$108.9m
$DYDX Volume 24h$2.73m
CEX Volume$2.45m
DEX Volume$950,481(34.76% of total)
Treasury$74.08
Majors$0
Stablecoins$0
Own Tokens$74.08
Others$0
Total Raised$87m
Dec 19, 2017$2mRound: SeedInvestors: 1Confirmation, a16z, Abstract Ventures, Avichal Garg, Brian Armstrong, Caffeinated Capital, Christopher Golda, David King, Elad Gil, Fred Ehrsam, Jack Herrick, Kindred Ventures, Polychain, Scott Belsky
Oct 19, 2018$10mRound: Series AInvestors: 1Confirmation, a16z crypto, Abstract Ventures, Bain Capital Crypto, Dragonfly Capital, Craft Ventures, Kindred Ventures, Naval Ravikant, Polychain, VY Capital
Jan 26, 2021$10mRound: Series BInvestors: a16z, DeFiance Capital, GSR, Hashed, Polychain Capital, RockTree Capital, Scalar Capital, The Spartan Group, 3AC, Wintermute Trading
Jun 15, 2021$65mRound: Series C
Protocol Information
The most powerful open trading platform for crypto assets. Margin trade, borrow, and lend cryptocurrency.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Hacks
Date: Nov 18, 2023
Protocol: dYdX V3
Amount: $9m
Classification: Market Manipulation
Technique: Risk Parameter Abuse
Chains: Ethereum
Target Type: DeFi Protocol
Date: Jul 23, 2024
Protocol: dYdX V3
Amount: $31,000
Classification: Frontend & Infrastructure
Technique: DNS Hijack
Chains: Ethereum
Target Type: DeFi Protocol
Competitors
dYdX history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 9, 2020 to Oct 28, 2026.
All-time high TVL: $1.123b on Oct 29, 2021. All-time low TVL: $33.63m on Nov 9, 2020.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $111.87m |
| Sep 30, 2026 | $111.43m |
| Oct 1, 2026 | $109.05m |
| Oct 2, 2026 | $108.09m |
| Oct 3, 2026 | $107.87m |
| Oct 4, 2026 | $108.04m |
| Oct 5, 2026 | $108.2m |
| Oct 6, 2026 | $108.91m |
| Oct 7, 2026 | $108.82m |
| Oct 8, 2026 | $109.81m |
| Oct 9, 2026 | $108.62m |
| Oct 10, 2026 | $108.58m |
| Oct 11, 2026 | $108.53m |
| Oct 12, 2026 | $108.73m |
| Oct 13, 2026 | $108.87m |
| Oct 14, 2026 | $108.85m |
| Oct 15, 2026 | $107.95m |
| Oct 16, 2026 | $101.39m |
| Oct 17, 2026 | $100.86m |
| Oct 18, 2026 | $101.19m |
| Oct 19, 2026 | $101.22m |
| Oct 20, 2026 | $102.33m |
| Oct 21, 2026 | $100.28m |
| Oct 22, 2026 | $84m |
| Oct 23, 2026 | $81.45m |
| Oct 24, 2026 | $81.83m |
| Oct 25, 2026 | $81.86m |
| Oct 26, 2026 | $81.6m |
| Oct 27, 2026 | $80.61m |
| Oct 28, 2026 | $79.17m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $398.68m |
| Dec 31, 2024 | $431.56m |
| Jan 31, 2025 | $404.9m |
| Feb 28, 2025 | $307.93m |
| Mar 31, 2025 | $260.76m |
| Apr 30, 2025 | $245.88m |
| May 31, 2025 | $283.61m |
| Jun 30, 2025 | $259.5m |
| Jul 31, 2025 | $308.22m |
| Aug 31, 2025 | $308.85m |
| Sep 30, 2025 | $295.98m |
| Oct 31, 2025 | $209.07m |
| Nov 30, 2025 | $200.49m |
| Dec 31, 2025 | $199.01m |
| Jan 31, 2026 | $189.51m |
| Feb 28, 2026 | $170.53m |
| Mar 31, 2026 | $158.11m |
| Apr 30, 2026 | $141.02m |
| May 31, 2026 | $136.02m |
| Jun 30, 2026 | $133.96m |
| Jul 31, 2026 | $115.09m |
| Aug 31, 2026 | $113.73m |
| Sep 30, 2026 | $111.43m |
| Oct 28, 2026 (latest) | $79.17m |
TVL at each year end, Dec 31, 2020 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2020 | $61.2m |
| Dec 31, 2021 | $1.007b |
| Dec 31, 2022 | $395.24m |
| Dec 31, 2023 | $347.57m |
| Dec 31, 2024 | $431.56m |
| Dec 31, 2025 | $199.01m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $3.15m | $3.15m | $3.15m |
| Dec 2024 | $3.47m | $3.47m | $3.47m |
| Jan 2025 | $2.18m | $2.18m | $2.18m |
| Feb 2025 | $1.29m | $1.29m | $1.29m |
| Mar 2025 | $1.29m | $1.29m | $1.29m |
| Apr 2025 | $983,351 | $983,351 | $983,351 |
| May 2025 | $1.21m | $1.21m | $1.21m |
| Jun 2025 | $1.05m | $1.05m | $1.05m |
| Jul 2025 | $1.78m | $1.78m | $1.78m |
| Aug 2025 | $1.82m | $1.82m | $1.82m |
| Sep 2025 | $1.27m | $1.27m | $1.27m |
| Oct 2025 | $1.74m | $1.74m | $1.74m |
| Nov 2025 | $1.14m | $1.14m | $1.14m |
| Dec 2025 | $427,896 | $427,896 | $427,896 |
| Jan 2026 | $309,724 | $309,724 | $309,724 |
| Feb 2026 | $356,213 | $356,213 | $356,213 |
| Mar 2026 | $327,152 | $327,152 | $327,152 |
| Apr 2026 | $267,184 | $267,184 | $267,184 |
| May 2026 | $245,164 | $245,164 | $245,164 |
| Jun 2026 | $102,724 | $102,724 | $102,724 |
| Jul 2026 | $279,952 | $279,952 | $279,952 |
| Aug 2026 | $280,112 | $280,112 | $280,112 |
| Sep 2026 | $266,761 | $266,761 | $266,761 |
| Oct 2026 (to date) | $202,874 | $202,874 | $202,874 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/dydx
Frequently asked questions
What is dYdX's TVL?
As of Oct 28, 2026, dYdX has $79.27m in total value locked. TVL has decreased 29.1% over the past 30 days.
What chains does dYdX operate on?
dYdX operates on 2 chains: Ethereum and dYdX. dYdX holds the largest share at 87.5%.
How much has dYdX generated in fees and revenue?
Over the past 30 days, dYdX generated $242,198 in fees. Of that, $242,198 was protocol revenue. Based on the trailing year, the annualized rate is $4.55m in fees and $4.55m in revenue.
What is the DYDX token price and valuation?
DYDX is currently trading at $0.11. Its circulating market capitalization is $92.69m, ranking it #423. Its fully diluted valuation is $104.99m. Supply currently stands at 846.09m circulating, 958.34m total supply, 1b maximum supply.
How has DYDX performed recently?
DYDX is down 8.1% over the past 7 days and down 19.4% over the past 30 days. Its all-time high is $4.52, reached on Mar 7, 2024. The token is currently 97.6% below that level.
How does dYdX's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, dYdX ranks #7 by TVL. The category holds $1.973b across 425 protocols, and dYdX accounts for 4% of that total. Similar protocols include Extended Perps, AZverse Perps, Apex Omni, Aevo Perps, Contango V2, Hakka Finance, AlphaX, Strike Finance Perpetuals, ApeX Pro, and Synthetix V4.
How much perpetual futures volume does dYdX process?
dYdX processed $1.165b in perpetual futures volume over the past 30 days.
Does dYdX have a treasury?
dYdX has a tracked treasury currently valued at $74.08. Its holdings include $74.08 in its own tokens.
Has dYdX ever been exploited?
dYdX has 2 recorded security incidents. The most recent incident occurred on Jul 23, 2024 and involved $31,000. It was classified as Frontend & Infrastructure.