❓FAQ & Resources
Documentation & Repository FAQ
Is the code open source and what is the Github link?
Yes, dYdX Chain Github repositories are fully public and can be found here https://github.com/dydxprotocol/v4-chain
Also see Open Source Repositories
Is there a documentation available to send USDC to dYdX Chain?
You can find the instructions here.
Token Information FAQ
What is the token name and symbol?
*DYDX is the native token of the dYdX Chain based on Cosmos SDK.*
If you have an existing token market for Ethereum ERC20 tokens, you shall change the ticker to ethDYDX for all ERC20 markets.
What is the circulating and max supply of DYDX?
Circulating supply was 377,821,714 and Total supply was 691,508,237 as on 1st Jan 2024
What is the function and utility of the project tokens?
DYDX has Staking, Security, Governance utilities over dYdX Chain. Read the blog for more information here.
What is the token allocation?
50.0% (500,000,000 $ethDYDX) to the community as follows:
25.0% (250,000,000 $ethDYDX) based on the Trading Rewards Formula,
7.5% (75,000,000 $ethDYDX) to past users who complete certain trading milestones on the Layer 2 protocol (Retroactive Mining Rewards),
7.5% (75,000,000 $ethDYDX) based on the Liquidity Provider Rewards Formula(s),
5.0% (50,000,000 $ethDYDX) to a Community Treasury,
2.5% (25,000,000 $ethDYDX) to users staking $USDC to a Liquidity Staking Pool,
2.5% (25,000,000 $ethDYDX) to users staking $ethDYDX to a Safety Staking Pool,
27.7% (277,295,070 $ethDYDX) to past investors of dYdX Trading Inc.,
15.3% (152,704,930 $ethDYDX) to founders, employees, advisors, and consultants of dYdX Trading Inc. or dYdX Foundation, and
7.0% (70,000,000 $ethDYDX) to future employees and consultants of dYdX Trading Inc. or dYdX Foundation.
More information on the token allocation can be found here.
Token Migration FAQ
Is the token chain-swapped and how was it decided by the community?
ethDYDX is migrating to DYDX on dYdX Chain. Check the Dune dashboard for latest numbers. Read more about the migration and bridging here.
The community decided to adopt DYDX as the L1 token of the dYdX Chain, built using Cosmos SDK. The utility functionalities of the token have expanded to the dYdX Chain, the DYDX token can now be used for staking and contributing to the security and governance of the dYdX Chain.
Will dYdX continue supporting the old smart contract on Ethereum or at what time/block height will it stop?
DYDX is a native token powering the dYdX Chain, a standalone PoS blockchain network built using Cosmos SDK, which can be used for gas, staking and governance. ethDYDX will still exist on Ethereum until all tokens are migrated to dYdX Chain.
wethDYDX will continue existing as a governance token for dYdX v3, relevant until the v3 exchange is live. dYdX Trading team plans to sunset the v3 product in due course of time, though there is not fixed date announced on shutting down the v3 product yet.
If the old contract still running but without a long-term swap support, what's the solution of old token depositing into new contract？
Users can convert their ethDYDX into (i) wethDYDX on Ethereum plus (ii) DYDX on the dYdX Chain anytime using the wethDYDX Smart Contract. Visit the front-end interface to interact with the bridge smart contract here.
What is the method of token migration?
The ethDYDX tokens are bridged and locked on the Ethereum side and are distributed on the dYdX Chain by the validators reading the bridge transaction.
If a user interacts with the wethDYDX Smart Contract, then each dYdX Chain validator participating in the consensus process would read the event information of the wethDYDX Smart Contract and allocate DYDX tokens on the dYdX Chain to a given user’s dYdX Chain address. The wethDYDX Smart Contract emits an event log in order for the dYdX Chain to understand when a call to bridge() has occurred. You can read more about it here.
What is the exchange rate of old token to new token？
1:1 (Users receive 1 wethDYDX on Ethereum + 1 DYDX on the dYdX Chain in exchange for every ethDYDX sent to the wethDYDX Smart Contract).
Is there a bridge to migrate DYDX on dYdX Chain back to ethDYDX on Ethereum?
There is only a one-way bridge for migrating ethDYDX to DYDX and no smart contract for other way around.
Who is Bridge Module Authority Account? Is it Governance?
Gov module and delaymsg module are authorities of bridge module.
In the wethdydx, Bridge function does not verify if address is in type of bech32. What happens, If the user enters wrong bech32 address type through direct contract interaction?
Funds are unretrievable in that case.
Technology Stack FAQ
Is the node code open source?
Yes, read more here to get started.
What is the transaction model? (On-chain accounting model, e.g. BTC is a UTXO model and ETH is an Account model)
Account model
What is the average block production speed?
1.05 - 1.20 seconds, Check the latest blocktime on https://www.mintscan.io/dydx.
How many block confirmations can ensure safe credit?
On Cosmos SDK-type chains block finality is 1-block. Finality comes as soon as a transaction and block are verified.
Whether the underlying layer of mainnet supports contract?
Not at the moment but we expect the ecosystem contributors will consider activating Cosmwasm on chain which can enable smart contract functionalities.
Are there other tokens apart from the mainnet token (eg. contract like token)?
No, not at the moment.
Does the public address or account needs to be activated on the chain after the public and private key is generated?
No.
Do transactions support multiple signatures?
Yes, signing with multiple signers is done with the tx multisign command.
Is there a fee on the transaction？
There is a gas fee usually in the range of 0.001 to 0.025 DYDX. Placing trades on the dYdX Chain incur trading fee in DYDX or USDC.
Is it possible for signature transactions to be carried out offline?
Yes, and the flag to consider in the tx sign command is —offline.
Describe all types of transactions related to changes in account funds, such as dividends, fees, airdrops, etc.
IBC Transfers
After the transaction goes on chain, whether there will be possibilities that the execution fails? And how to judge the transaction is successful?
In the scenario of sending transactions, if the same sending address sends transactions continuously, is there a need to wait for the previous transaction to be confirmed before sending the next transaction?
It uses sequence_number like most other cosmos chains. This is the same as nonce in a transaction on Ethereum.
Please provide block data of mainnet or snapshots.
You can access the information by https://dydx-ops-rpc.kingnodes.com/block_results?height=<BLOCK#>
Is there a public API interface url?
You can access the indexer APIs at this link.
Please provide more information on configuring file directory.
Visit the page here.
How to customize RPC Port and directory of block data?
Check out the ports here.
How to access the account balance, history, and information of trade?
You can access the inform on Mintscan.
What are the rules of ab address? (such as start with 0x, max_length is 60, etc.)
dYdX Chain address starts with dydx, max length = 43.
Is there a need for wallet node expose its port to outside? If so, is the machine with NAT IP is ok?
No.
What are the support transaction types from the x/bank module? (e.g. /cosmos.bank.v1beta1.MsgSend, /cosmos.bank.v1beta1.MsgMultiSend)
They are both supported on the dYdX chain.
How to change the USDC on the dYdX chain to the USDC on the ERC20 chain?
There are 2 bridges, the first is the pure USDC bridge https://cctp.money/ and second is the generic bridge https://app.squidrouter.com/. Both of these have different fees which is shown to you on the frontend.
Where can I find network constants and parameters?
You can find the params at https://docs.dydx.trade/networks/network1/network_constants
Security FAQ
Is there a third-party security audit of the source code of the dYdX Chain protocol?
Yes, dYdX v4 protocol has been audited by Informal System. Audit report available here.
Is there a third-party security audit of the bridge smart-contract?
The token bridge and governance contracts have been audited by Peckshield. Audit report available here.
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