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23 lines
904 B
Markdown
23 lines
904 B
Markdown
## dydx
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<br>
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### tl; dr
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<br>
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* founded in 2017, dydx is the most popular dex for trading perps and utilizes a central limit orderbook model (rather amm).
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* the oracle price is an aggregate price calculated using on-chain price oracles. collateralization and liquidations on dydx are determined using the oracle prices of each asset.
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* the index price is an aggregate price based on price data from multiple exchanges and is used to trigger stop orders.
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* the mid-market price is determined by the orderbook as tge midpoint or average between the lowest ask (sell price) and the highest bid (buy price).
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* funding rate is the fee paid between longs and shorts for each perpetual market. longs pay shorts if the funding rate is positive and vice versa.
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* it on starkware's L2 (migrated from ethereum in 2021) and soon moving to their own standalone cosmos chain (dydx v4).
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<br>
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---
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### resources
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