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DerivaDEX is a decentralized exchange built for trading Ethereum based derivatives. This exchange is governed by a decentralized autonomous organization known as DerivaDAO.
In an attempt to distinguish itself from competing decentralized and centralized exchanges, DerivaDEX boasts that traders will no longer need to ‘choose between performance and security’. It states that it is able to achieve both by taking a couple of unique approaches. The first is by utilizing its own operators network to complete transactions, as opposed to a public blockchain. The second is leveraging staked insurance funds to prevent auto de-leveraging (ADL).
Aside from this unique approach, DerivaDEX believes that the following features it offers set it apart.
- Governed by a DAO (censorship resistance, no single point of failure)
- Open Order Books
- On-chain Settlements
Making operations at DerivaDEX possible are its native token known as ‘DDX’. These tokens are used as not only means of governance, but can be used to reduce platform fees, and allow for staking. DDX tokens are capped at 100 million.
Notably, DerivaDEX was able to attract $2.7 million in financing during its first two rounds from investors such as,
- Coinbase Ventures
- Dragonfly Capital Partners
- Polychain Capital
- Three Arrows Capital
To learn more, make sure to visit out Investing in DerivaDEX (DDX) guide.
We list the top 3 exchanges that offer the ability to buy DerivaDEX (DDX) cryptocurrency with a credit card, debit card, or Bitcoin (BTC).
Coinbase is a publicly traded crypto exchange listed on the NASDAQ. It is one of the most widely used exchanges in the United States and accepts clients from 100+ countries including Australia, Canada, Singapore, and the UK.
Over 460 billion dollars in volume has been traded by over 70 million users at Coinbase. Security is a paramount feature with 98% of customer funds being stored in secure offline storage. The platform is simple to use and is available on desktop, Android, and iOS, offering trading opportunities in over 140 cryptocurrencies including DerivaDEX (DDX).
This exchange currently accepts USA residents excluding Hawaii.
Uniswap is a decentralized exchange (DEX) for swapping tokens, which uses an automated market maker (AMM) model that allows users to trade against a liquidity pool. While this is obviously a good option to purchase DerivaDEX (DDX), we only recommend this platform for advanced users. Due to the fact that this is exchange is decentralized, you are liable for any losses due to errors made.
Learning to use decentralized exchanges is not for the faint of heart. We recommend coinbase.com instead.
SushiSwap is an AMM (automated market maker) and DeFi (Decentralized Finance) platform that enables users to swap tokens in a decentralized manner. The platform currently supports over 20 wallets, and is one of the more popular DEX (Decentralized Exchanges) to offer DerivaDEX (DDX) buying opportunities.
It should be noted that with SushiSwap being a decentralized exchange, there is no recourse should a problem occur. Due to this and the confusing terminology on the website we recommend coinbase.com instead.
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