dYdX is a management token that allows the community to manage dYdX Layer 2. The token was deployed in Ethereum, its features are two strategies proposed by DeFi: short deals that allow you to profit from price cuts and loans with full collateral.

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Derivative markets are considerably larger than spot markets.

@charlesdhaussy discusses how perpetual trading pairs will be defined permissionlessly, by users of @dYdX V4, following a risk framework approved by @dydxfoundation DAOs.

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