dYdX v4 chain
Overview
The dYdX v4 iteration, branded as the dYdX Chain, is a standalone blockchain built for the dYdX derivatives exchange, succeeding its previous Ethereum layer-2 setup. This appchain architecture enables onchain settlement while the orderbook and matching engine function at exchange-level speed. The platform, described as 'DeFi's Pro Trading Platform', supports spot and perpetual futures trading across over 220 markets, featuring advanced order types, professional tools, and mobile applications for iOS and Android, alongside a desktop client and Telegram interface. Users maintain self-custody of assets and can bridge funds from Ethereum, Base, Arbitrum, Polygon, Avalanche, and Optimism. According to dydx.xyz as of 22 July 2026, the protocol has recorded $1.5 trillion in cumulative trading volume, with open interest near $200 million and approximately $12 million in total value locked within MegaVault. The DYDX token is used for governance, and dYdX International Ltd asserts it does not develop, control, or operate any public-facing component of the protocol, with front ends managed by independent third-party deployers. The v4 release transitioned from a centrally run Ethereum layer-2 orderbook to the independent dYdX Chain, bringing matching and governance onchain and delegating front-end operation to external parties. The protocol has subsequently introduced spot markets in addition to perpetuals, along with community initiatives like Surge.
Within The Counterparty graph, dYdX v4 connects to 7 tracked entities, most strongly to Cosmos SDK, Cosmos SDK, dYdX Trading.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 7 of 7 total).
| Relation | Connected entity | Confidence |
|---|---|---|
built_with | Cosmos SDK | 95% |
forked_from | Cosmos SDK | 90% |
sequenced_by | dYdX Trading | 90% |
affected | dYdX v4 launch | 85% |
affected | dYdX v3 launch | 85% |
affected | dYdX v3 sunset | 85% |
affected | dYdX v4 monthly volume drop post-migration | 85% |
Frequently asked questions
What is dYdX v4?
dYdX v4 is a chain tracked in The Counterparty knowledge graph. It is connected to 7 other tracked entities, most strongly to Cosmos SDK, Cosmos SDK, dYdX Trading.
What type of entity is dYdX v4?
dYdX v4 is classified as a chain (chain) in The Counterparty knowledge graph.
What is dYdX v4 connected to?
In The Counterparty knowledge graph, dYdX v4 is linked to 7 other tracked entities, most strongly to Cosmos SDK, Cosmos SDK, dYdX Trading.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.