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An overview of the ethDYDX token and governance.
Ethereum-based DYDX ($ethDYDX) is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol built on Ethereum ("dYdX v3"). By enabling shared control of dYdX v3, ethDYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced dYdX v3.
$ethDYDX and $wethDYDX enable a robust ecosystem around governance and rewards — each designed to drive future growth and decentralization of dYdX v3, resulting in a better experience for users.